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Business Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Financial Results

Business Segment financial results for the three and six months ended June 30, 2021 and June 30, 2020 were as follows (in thousands):

 

 

 

Three Months Ended June 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

135,656

 

 

$

21,258

 

 

$

44,157

 

 

$

201,071

 

Provision for credit losses

 

 

22,009

 

 

 

147

 

 

 

1,844

 

 

 

24,000

 

Noninterest income

 

 

36,391

 

 

 

68,745

 

 

 

26,453

 

 

 

131,589

 

Noninterest expense

 

 

69,144

 

 

 

72,575

 

 

 

59,619

 

 

 

201,338

 

Income before taxes

 

 

80,894

 

 

 

17,281

 

 

 

9,147

 

 

 

107,322

 

Income tax expense

 

 

15,007

 

 

 

3,206

 

 

 

1,697

 

 

 

19,910

 

Net income

 

$

65,887

 

 

$

14,075

 

 

$

7,450

 

 

$

87,412

 

Average assets

 

$

14,993,000

 

 

$

11,611,000

 

 

$

7,660,000

 

 

$

34,264,000

 

 

 

 

Three Months Ended June 30, 2020

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

113,095

 

 

$

28,124

 

 

$

37,010

 

 

$

178,229

 

Provision for credit losses

 

 

19,281

 

 

 

298

 

 

 

1,921

 

 

 

21,500

 

Noninterest income

 

 

24,078

 

 

 

66,488

 

 

 

29,890

 

 

 

120,456

 

Noninterest expense

 

 

62,123

 

 

 

76,953

 

 

 

69,457

 

 

 

208,533

 

Income (loss) before taxes

 

 

55,769

 

 

 

17,361

 

 

 

(4,478

)

 

 

68,652

 

Income tax expense (benefit)

 

 

6,597

 

 

 

2,055

 

 

 

(529

)

 

 

8,123

 

Net income (loss)

 

$

49,172

 

 

$

15,306

 

 

$

(3,949

)

 

$

60,529

 

Average assets

 

$

12,390,000

 

 

$

9,671,000

 

 

$

6,075,000

 

 

$

28,136,000

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

268,687

 

 

$

43,397

 

 

$

83,102

 

 

$

395,186

 

Provision for credit losses

 

 

13,827

 

 

 

367

 

 

 

2,306

 

 

 

16,500

 

Noninterest income

 

 

43,777

 

 

 

137,166

 

 

 

59,543

 

 

 

240,486

 

Noninterest expense

 

 

134,789

 

 

 

143,857

 

 

 

123,638

 

 

 

402,284

 

Income before taxes

 

 

163,848

 

 

 

36,339

 

 

 

16,701

 

 

 

216,888

 

Income tax expense

 

 

27,825

 

 

 

6,171

 

 

 

2,837

 

 

 

36,833

 

Net income

 

$

136,023

 

 

$

30,168

 

 

$

13,864

 

 

$

180,055

 

Average assets

 

$

14,593,000

 

 

$

11,608,000

 

 

$

7,453,000

 

 

$

33,654,000

 

 

 

 

Six Months Ended June 30, 2020

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

220,044

 

 

$

61,159

 

 

$

70,967

 

 

$

352,170

 

Provision for credit losses

 

 

101,501

 

 

 

573

 

 

 

7,426

 

 

 

109,500

 

Noninterest income

 

 

35,318

 

 

 

128,440

 

 

 

55,122

 

 

 

218,880

 

Noninterest expense

 

 

121,166

 

 

 

145,406

 

 

 

130,580

 

 

 

397,152

 

Income (loss) before taxes

 

 

32,695

 

 

 

43,620

 

 

 

(11,917

)

 

 

64,398

 

Income tax expense (benefit)

 

 

3,709

 

 

 

4,951

 

 

 

(1,352

)

 

 

7,308

 

Net income (loss)

 

$

28,986

 

 

$

38,669

 

 

$

(10,565

)

 

$

57,090

 

Average assets

 

$

12,000,000

 

 

$

9,340,000

 

 

$

5,748,000

 

 

$

27,088,000