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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income:        
Interest and fees on loans and leases $ 431,538 $ 185,919 $ 777,814 $ 376,455
Taxable interest and dividends on investments 69,538 40,303 123,262 79,917
Non-taxable interest on investment securities 12,664 5,283 22,466 10,616
Loans held for sale 7 53 33 144
Total interest income 513,747 231,558 923,575 467,132
Interest Expense:        
Deposits 12,459 5,094 19,858 11,533
Securities sold under agreements to repurchase and other borrowings 2,677 860 3,634 1,495
Federal Home Loan Bank advances 3,164 534 3,220 1,047
Long-term debt 8,787 4,218 15,955 8,441
Total interest expense 27,087 10,706 42,667 22,516
Net interest income 486,660 220,852 880,908 444,616
Provision (benefit) for credit losses 12,243 (21,500) 201,088 (47,250)
Net interest income after provision (benefit) for credit losses 474,417 242,352 679,820 491,866
Non-interest Income:        
Deposit service fees 51,385 41,439 99,212 81,908
Loan and lease related fees 27,907 7,862 50,586 16,175
Wealth and investment services 11,244 10,087 21,841 19,490
Mortgage banking activities 102 1,319 530 3,961
Increase in cash surrender value of life insurance policies 8,244 3,603 14,976 7,136
Other income 22,051 8,392 37,823 20,789
Total non-interest income 120,933 72,702 224,968 149,459
Non-interest Expense:        
Compensation and benefits 187,656 97,754 371,658 205,354
Occupancy 51,593 14,010 70,208 29,660
Technology and equipment 41,498 27,124 96,899 55,640
Intangible assets amortization 8,802 1,132 15,189 2,271
Marketing 3,441 3,227 6,950 5,731
Professional and outside services 15,332 21,025 69,423 30,801
Deposit insurance 6,748 3,749 11,970 7,705
Other expense 43,157 19,007 75,715 37,848
Total non-interest expense 358,227 187,028 718,012 375,010
Income before income taxes 237,123 128,026 186,776 266,315
Income tax expense 54,812 33,991 21,212 64,202
Net income 182,311 94,035 165,564 202,113
Less: Preferred stock dividends 4,163 1,969 7,594 3,938
Net income available to common shareholders 178,148 92,066 157,970 198,175
Earnings applicable to common shareholders $ 178,148 $ 92,066 $ 157,970 $ 198,175
Earnings per common share:        
Basic (in dollars per share) $ 1.00 $ 1.02 $ 0.97 $ 2.19
Diluted (in dollars per share) $ 1.00 $ 1.01 $ 0.97 $ 2.19