XML 62 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest Income      
Investment securities $ 195,135 $ 201,930 $ 169,035
Residential real estate loans 89,596 71,328 57,243
Commercial loans 765,959 669,663 548,969
Consumer and other loans 89,160 74,734 54,393
Total interest income 1,139,850 1,017,655 829,640
Interest Expense      
Deposits 272,734 162,426 14,526
Securities sold under agreements to repurchase 55,723 36,414 3,200
Federal Home Loan Bank advances 72,620 26,910 17,317
FRB Bank Term Funding 27,097 93,388 0
Other borrowed funds 1,297 1,056 1,329
Subordinated debentures 5,747 5,779 4,889
Total interest expense 435,218 325,973 41,261
Net Interest Income 704,632 691,682 788,379
Provision for credit losses 28,306 14,795 19,963
Net interest income after provision for credit losses 676,326 676,887 768,416
Non-Interest Income      
Service charges and other fees 78,894 75,157 72,124
Miscellaneous loan fees and charges 18,694 16,935 15,350
Gain on sale of loans 16,855 12,202 20,032
Gain on sale of securities 30 1,510 620
Other income 13,973 12,275 12,606
Total non-interest income 128,446 118,079 120,732
Non-Interest Expense      
Compensation and employee benefits 336,906 309,048 319,303
Occupancy and equipment 47,055 43,578 43,261
Advertising and promotions 16,132 15,430 14,324
Data processing 36,887 33,752 30,823
Other real estate owned and foreclosed assets 217 119 77
Regulatory assessments and insurance 24,194 28,712 12,904
Amortization of core deposit and other intangibles 12,757 9,731 10,658
Other expenses 104,320 86,988 87,518
Total non-interest expense 578,468 527,358 518,868
Income Before Income Taxes 226,304 267,608 370,280
Federal and state income tax expense 36,160 44,681 67,078
Net Income $ 190,144 $ 222,927 $ 303,202
Basic earnings per share (in dollars per share) $ 1.68 $ 2.01 $ 2.74
Diluted earnings per share (in dollars per share) 1.68 2.01 2.74
Dividends declared per share (in dollars per share) $ 1.32 $ 1.32 $ 1.32
Average outstanding shares - basic (in shares) 113,170,157 110,864,501 110,757,473
Average outstanding shares - diluted (in shares) 113,243,427 110,890,447 110,827,933