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Consolidated Statements of Income - USD ($)
$ in Millions
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 $ 218.3 $ 111.9 $ 561.7 $ 325.1
Interest and dividends on investment securities:        
Taxable 64.3 17.1 142.4 48.7
Exempt from federal taxes 1.4 1.4 4.1 4.2
Other Interest and Dividend Income 1.3 0.2 2.8 0.2
Interest on deposits in banks 1.4 0.7 6.5 1.7
Total interest income 286.7 131.3 717.5 379.9
Interest expense:        
Interest on deposits 13.3 1.9 20.6 6.4
Interest on securities sold under repurchase agreements 0.8 0.1 1.4 0.3
Interest Expense, Other Short-term Borrowings 2.4 0.0 2.4 0.0
Interest on long-term debt 1.5 1.5 4.6 4.5
Interest on subordinated debentures held by subsidiary trusts 1.9 0.7 4.3 2.1
Total interest expense 19.9 4.2 33.3 13.3
Net interest income 266.8 127.1 684.2 366.6
Provision for (reversal of) credit losses 8.4 0.0 68.0 (5.1)
Net interest income after provision for (reversal of) credit losses 258.4 127.1 616.2 371.7
Non-interest income:        
Payment Services Revenues 20.4 12.2 54.7 33.8
Mortgage banking revenues 2.7 11.6 16.1 32.8
Wealth management revenues 8.5 6.5 25.9 19.1
Service Charges on Deposit Accounts 5.7 4.4 19.7 12.1
Non-interest income 4.7 1.4 12.6 5.1
Debt Securities, Available-for-sale, Gain (Loss) (24.2) 0.3 (24.4) 0.2
Other income 5.1 3.1 17.0 9.8
Total non-interest income 22.9 39.5 121.6 112.9
Non-interest expense:        
Salaries and wages 71.9 42.0 206.7 122.6
Employee benefits 19.6 12.9 60.2 43.7
Outsourced technology services 15.9 8.2 40.0 24.7
Occupancy, net 11.3 7.3 32.5 21.7
Furniture and equipment 5.8 4.5 17.0 13.0
OREO expense, net of income 0.0 0.0 0.1 (0.1)
Professional fees 5.1 2.7 14.5 9.3
FDIC insurance premiums 4.1 1.7 10.2 4.8
Other intangibles amortization 4.1 2.4 11.8 7.4
Other expenses 31.4 17.6 82.7 49.6
Acquisition related expenses 4.0 6.6 115.0 6.6
Noninterest Expense 173.2 105.9 590.7 303.3
Income before income tax 108.1 60.7 147.1 181.3
Provision for income tax 22.4 13.6 30.7 40.3
Net income $ 85.7 $ 47.1 $ 116.4 $ 141.0
Earnings per common share, basic (in dollars per share) $ 0.80 $ 0.76 $ 1.13 $ 2.29
Earnings per common share, diluted (in dollars per share) $ 0.80 $ 0.76 $ 1.13 $ 2.28
Weighted average common shares outstanding, basic (in shares) 106,525,974 61,673,656 102,879,422 61,641,342
Weighted average common shares outstanding, diluted (in shares) 106,589,699 61,747,972 102,935,360 61,732,822