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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income:        
Interest and fees on loans and leases $ 525,960 $ 196,273 $ 1,303,774 $ 572,728
Taxable interest and dividends on investments 77,570 38,208 200,832 118,125
Non-taxable interest on investment securities 13,999 5,154 36,465 15,770
Loans held for sale 40 57 73 201
Total interest income 617,569 239,692 1,541,144 706,824
Interest Expense:        
Deposits 37,492 4,571 57,350 16,104
Securities sold under agreements to repurchase and other borrowings 6,242 721 9,876 2,216
Federal Home Loan Bank advances 13,814 492 17,034 1,539
Long-term debt 9,018 4,217 24,973 12,658
Total interest expense 66,566 10,001 109,233 32,517
Net interest income 551,003 229,691 1,431,911 674,307
Provision (benefit) for credit losses 36,531 7,750 237,619 (39,500)
Net interest income after provision (benefit) for credit losses 514,472 221,941 1,194,292 713,807
Non-interest Income:        
Deposit service fees 50,807 40,258 150,019 122,166
Loan and lease related fees 26,769 10,881 77,355 27,056
Wealth and investment services 11,419 9,985 33,260 29,475
Mortgage banking activities 86 1,525 616 5,486
Increase in cash surrender value of life insurance policies 7,718 3,666 22,694 10,802
(Loss) on sale of investment securities, net (2,234) 0 (2,234) 0
Other income 19,071 17,460 56,894 38,249
Total non-interest income 113,636 83,775 338,604 233,234
Non-interest Expense:        
Compensation and benefits 173,983 105,352 545,641 310,706
Occupancy 23,517 12,430 93,725 42,090
Technology and equipment 45,283 28,441 142,182 84,081
Intangible assets amortization 8,511 1,124 23,700 3,395
Marketing 3,918 3,721 10,868 9,452
Professional and outside services 21,618 7,074 91,041 37,875
Deposit insurance 8,026 3,855 19,996 11,560
Other expense 45,215 18,240 120,930 56,088
Total non-interest expense 330,071 180,237 1,048,083 555,247
Income before income taxes 298,037 125,479 484,813 391,794
Income tax expense 64,069 29,766 85,281 93,968
Net income 233,968 95,713 399,532 297,826
Less: Preferred stock dividends 4,162 1,968 11,756 5,906
Net income available to common shareholders 229,806 93,745 387,776 291,920
Earnings applicable to common shareholders $ 229,806 $ 93,745 $ 387,776 $ 291,920
Earnings per common share:        
Basic (in dollars per share) $ 1.31 $ 1.03 $ 2.32 $ 3.23
Diluted (in dollars per share) $ 1.31 $ 1.03 $ 2.32 $ 3.22