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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME:      
Interest and fees on loans $ 477,970 $ 444,137 $ 424,941
Interest on securities:      
Taxable 169,544 125,010 98,263
Nontaxable 24,006 19,268 12,484
Interest on federal funds sold 11 1 0
Interest on interest bearing deposits in other financial institutions 3,125 344 924
TOTAL INTEREST INCOME 674,656 588,760 536,612
INTEREST EXPENSE:      
Interest on deposits 56,880 14,797 30,287
Interest on short-term borrowings 2,717 471 610
Interest on other borrowings (includes $246, $1,601, and $(1,820) of interest expense (benefit) related to derivatives reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2022, 2021, and 2020, respectively) 16,823 12,932 13,986
TOTAL INTEREST EXPENSE 76,420 28,200 44,883
NET INTEREST INCOME 598,236 560,560 491,729
Provision (benefit) for credit losses 15,370 (17,575) 67,066
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 582,866 578,135 424,663
NONINTEREST INCOME:      
Revenue from contract with customers 93,587 87,666 71,085
Loan servicing income 2,741 3,276 2,977
Securities (losses) gains, net (includes $(1,892), $5,910, and $7,592 of net security gains (losses) reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2022, 2021, and 2020, respectively) (425) 5,910 7,793
Unrealized (loss) gain on equity securities, net (622) 58 640
Net gains on sale of loans held for sale 9,032 20,605 28,515
Valuation adjustment on servicing rights 1,658 1,088 (1,778)
Income on bank owned life insurance 2,341 3,762 3,554
Other noninterest income 19,952 6,570 7,505
TOTAL NONINTEREST INCOME 128,264 128,935 120,291
NONINTEREST EXPENSES:      
Salaries and employee benefits 254,478 240,114 202,668
Occupancy 28,155 29,965 26,554
Furniture and equipment 12,499 13,323 12,514
Professional fees 65,606 64,600 54,068
Advertising 6,221 7,257 5,235
Core deposit intangibles and customer relationship intangibles amortization 7,834 9,395 10,670
Other real estate and loan collection expenses 950 990 1,340
(Gain) loss on sales/valuations of assets, net (1,047) 588 5,101
Acquisition, integration and restructuring costs 7,586 5,331 5,381
Partnership investment in tax credit projects 5,040 6,303 3,801
Other noninterest expenses 56,055 53,946 43,631
TOTAL NONINTEREST EXPENSES 443,377 431,812 370,963
INCOME BEFORE INCOME TAXES 267,753 275,258 173,991
Income taxes (includes $(355), $1,896, and $2,376 of income tax expense (benefit) reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2022, 2021, and 2020, respectively) 55,573 55,335 36,053
NET INCOME 212,180 219,923 137,938
Preferred dividends (8,050) (8,050) (4,451)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 204,130 $ 211,873 $ 133,487
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 4.80 $ 5.01 $ 3.58
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) 4.79 5.00 3.57
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 1.09 $ 0.96 $ 0.80
Service charges and fees      
NONINTEREST INCOME:      
Revenue from contract with customers $ 68,031 $ 59,703 $ 47,467
Trust fees      
NONINTEREST INCOME:      
Revenue from contract with customers 22,570 24,417 20,862
Brokerage and insurance commissions      
NONINTEREST INCOME:      
Revenue from contract with customers $ 2,986 $ 3,546 $ 2,756