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Business Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Financial Results

Business Segment financial results for the three and nine months ended September 30, 2022 and September 30, 2021 were as follows (in thousands):

 

 

 

Three Months Ended September 30, 2022

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

150,080

 

 

$

43,382

 

 

$

40,023

 

 

$

233,485

 

Provision for credit losses

 

 

20,156

 

 

 

162

 

 

 

1,682

 

 

 

22,000

 

Noninterest income

 

 

16,785

 

 

 

89,386

 

 

 

22,552

 

 

 

128,723

 

Noninterest expense

 

 

87,120

 

 

 

82,073

 

 

 

62,203

 

 

 

231,396

 

Income (loss) before taxes

 

 

59,589

 

 

 

50,533

 

 

 

(1,310

)

 

 

108,812

 

Income tax expense (benefit)

 

 

11,403

 

 

 

9,670

 

 

 

(251

)

 

 

20,822

 

Net income (loss)

 

$

48,186

 

 

$

40,863

 

 

$

(1,059

)

 

$

87,990

 

Average assets

 

$

17,658,000

 

 

$

11,999,000

 

 

$

6,653,000

 

 

$

36,310,000

 

 

 

 

Three Months Ended September 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

150,871

 

 

$

21,203

 

 

$

37,691

 

 

$

209,765

 

Provision for credit losses

 

 

(5,720

)

 

 

172

 

 

 

548

 

 

 

(5,000

)

Noninterest income

 

 

17,048

 

 

 

65,568

 

 

 

25,291

 

 

 

107,907

 

Noninterest expense

 

 

78,708

 

 

 

73,369

 

 

 

56,792

 

 

 

208,869

 

Income before taxes

 

 

94,931

 

 

 

13,230

 

 

 

5,642

 

 

 

113,803

 

Income tax expense

 

 

16,130

 

 

 

2,248

 

 

 

958

 

 

 

19,336

 

Net income

 

$

78,801

 

 

$

10,982

 

 

$

4,684

 

 

$

94,467

 

Average assets

 

$

15,766,000

 

 

$

11,976,000

 

 

$

8,131,000

 

 

$

35,873,000

 

 

 

 

 

Nine Months Ended September 30, 2022

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

444,176

 

 

$

104,615

 

 

$

119,840

 

 

$

668,631

 

Provision for credit losses

 

 

25,183

 

 

 

402

 

 

 

3,315

 

 

 

28,900

 

Noninterest income

 

 

100,379

 

 

 

243,740

 

 

 

84,617

 

 

 

428,736

 

Noninterest expense

 

 

246,230

 

 

 

234,185

 

 

 

179,886

 

 

 

660,301

 

Income before taxes

 

 

273,142

 

 

 

113,768

 

 

 

21,256

 

 

 

408,166

 

Income tax expense

 

 

51,298

 

 

 

21,367

 

 

 

3,992

 

 

 

76,657

 

Net income

 

$

221,844

 

 

$

92,401

 

 

$

17,264

 

 

$

331,509

 

Average assets

 

$

17,122,000

 

 

$

13,396,000

 

 

$

7,148,000

 

 

$

37,666,000

 

 

 

 

Nine Months Ended September 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

430,158

 

 

$

64,599

 

 

$

110,194

 

 

$

604,951

 

Provision for credit losses

 

 

8,096

 

 

 

539

 

 

 

2,865

 

 

 

11,500

 

Noninterest income

 

 

62,306

 

 

 

202,769

 

 

 

83,318

 

 

 

348,393

 

Noninterest expense

 

 

221,883

 

 

 

217,257

 

 

 

172,013

 

 

 

611,153

 

Income before taxes

 

 

262,485

 

 

 

49,572

 

 

 

18,634

 

 

 

330,691

 

Income tax expense

 

 

44,584

 

 

 

8,419

 

 

 

3,166

 

 

 

56,169

 

Net income

 

$

217,901

 

 

$

41,153

 

 

$

15,468

 

 

$

274,522

 

Average assets

 

$

14,987,000

 

 

$

11,734,000

 

 

$

7,681,000

 

 

$

34,402,000