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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME        
Loans $ 216,970 $ 159,242 $ 536,359 $ 463,949
Securities:        
Taxable interest 50,003 33,307 140,680 90,249
Tax-exempt interest 24,692 24,458 72,085 74,165
Total securities income 74,695 57,765 212,765 164,414
Federal funds and resell agreements 6,056 2,389 12,003 7,762
Interest-bearing due from banks 2,545 1,699 9,209 3,235
Trading securities 73 231 372 579
Total interest income 300,339 221,326 770,708 639,939
INTEREST EXPENSE        
Deposits 48,457 6,741 70,069 20,113
Federal funds and repurchase agreements 14,709 1,596 21,855 5,261
Other 3,688 3,224 10,153 9,614
Total interest expense 66,854 11,561 102,077 34,988
Net interest income 233,485 209,765 668,631 604,951
Provision for credit losses 22,000 (5,000) 28,900 11,500
Net interest income after provision for credit losses 211,485 214,765 639,731 593,451
NONINTEREST INCOME        
Trust and securities processing 59,586 56,914 178,000 165,611
Trading and investment banking 5,387 5,936 17,950 23,962
Service charges on deposit accounts 19,932 19,881 65,409 64,449
Insurance fees and commissions 375 285 879 950
Brokerage fees 13,840 2,899 29,687 8,825
Bankcard fees 19,379 17,198 53,854 47,934
Investment securities (losses) gains, net (1,345) (3,510) 58,853 3,609
Other 11,569 8,304 24,104 33,053
Total noninterest income 128,723 107,907 428,736 348,393
NONINTEREST EXPENSE        
Salaries and employee benefits 136,467 124,986 388,491 373,082
Occupancy, net 12,231 12,207 36,439 36,438
Equipment 18,811 19,701 55,290 58,512
Supplies and services 3,139 3,379 9,893 10,340
Marketing and business development 6,671 4,863 16,911 12,005
Processing fees 20,901 16,562 58,682 48,480
Legal and consulting 10,255 7,646 28,431 21,548
Bankcard 6,551 4,795 18,998 14,280
Amortization of other intangible assets 1,092 1,110 3,388 3,647
Regulatory fees 4,200 3,186 11,146 8,501
Other 11,078 10,434 32,632 24,320
Total noninterest expense 231,396 208,869 660,301 611,153
Income before income taxes 108,812 113,803 408,166 330,691
Income tax expense 20,822 19,336 76,657 56,169
NET INCOME $ 87,990 $ 94,467 $ 331,509 $ 274,522
PER SHARE DATA        
Net income – basic $ 1.82 $ 1.96 $ 6.86 $ 5.69
Net income – diluted 1.81 1.94 6.80 5.64
Dividends $ 0.37 $ 0.37 $ 1.11 $ 1.01
Weighted average shares outstanding – basic 48,300,129 48,319,414 48,351,007 48,237,819
Weighted average shares outstanding – diluted 48,648,804 48,742,883 48,723,572 48,658,290