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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Interest and fees on loans $ 241.6 $ 191.7 $ 477.2 $ 343.4
Interest and dividends on investment securities:        
Taxable 65.6 48.8 137.3 78.1
Exempt from federal taxes 1.3 1.4 2.7 2.7
Other Interest and Dividend Income 3.4 1.1 6.4 1.5
Interest on deposits in banks 5.4 3.4 9.6 5.1
Total interest income 317.3 246.4 633.2 430.8
Interest expense:        
Interest on deposits 53.6 4.3 93.9 7.3
Interest on securities sold under repurchase agreements 1.5 0.3 2.6 0.6
Interest Expense, Other Short-term Borrowings 39.3 0.0 70.5 0.0
Interest on long-term debt 1.4 1.4 2.9 3.1
Interest on subordinated debentures held by subsidiary trusts 3.1 1.4 6.0 2.4
Total interest expense 98.9 7.4 175.9 13.4
Net interest income 218.4 239.0 457.3 417.4
Provision for (reduction of) credit losses 11.7 (1.7) 26.9 59.6
Net interest income after provision for credit losses 206.7 240.7 430.4 357.8
Non-interest income:        
Payment Services Revenues 20.1 19.5 38.8 34.3
Mortgage banking revenues 2.6 5.0 4.9 13.4
Wealth management revenues 8.8 9.3 17.8 17.4
Service Charges on Deposit Accounts 5.8 6.3 11.0 14.0
Non-interest income 2.4 3.6 4.8 7.9
Debt Securities, Available-for-sale, Gain (Loss) (0.1) (0.1) (23.5) (0.2)
Other income 4.5 6.3 6.7 11.9
Total non-interest income 44.1 49.9 60.5 98.7
Non-interest expense:        
Salaries and wages 68.1 74.8 133.7 134.8
Employee benefits 19.3 19.4 42.1 40.6
Outsourced technology services 15.3 12.8 30.0 24.1
Occupancy, net 11.7 11.2 24.2 21.2
Furniture and equipment 5.6 5.8 11.5 11.2
OREO expense, net of income 0.6 0.0 0.8 0.1
Professional fees 5.3 5.5 9.8 9.4
FDIC insurance premiums 4.7 2.8 10.4 6.1
Other intangibles amortization 3.9 4.1 7.9 7.7
Other expenses 29.4 28.1 59.3 51.3
Acquisition related expenses 0.0 45.8 0.0 111.0
Noninterest Expense 163.9 210.3 329.7 417.5
Income before income tax 86.9 80.3 161.2 39.0
Provision for income tax 19.9 16.2 37.9 8.3
Net income $ 67.0 $ 64.1 $ 123.3 $ 30.7
Earnings per common share, basic (in dollars per share) $ 0.65 $ 0.59 $ 1.19 $ 0.30
Earnings per common share, diluted (in dollars per share) $ 0.65 $ 0.59 $ 1.19 $ 0.30
Weighted average common shares outstanding, basic (in shares) 103,820,649 109,106,891 103,779,386 101,025,926
Weighted average common shares outstanding, diluted (in shares) 103,822,891 109,131,718 103,821,925 101,076,331