Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
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INTEREST INCOME: | ||||
Loans, including fees | $ 337,451 | $ 308,678 | $ 980,107 | $ 842,434 |
Securities | 59,617 | 69,987 | 188,466 | 215,225 |
Federal funds sold and other earning assets | 20,835 | 1,689 | 44,195 | 10,452 |
Total interest income | 417,903 | 380,354 | 1,212,768 | 1,068,111 |
INTEREST EXPENSE: | ||||
Deposits | 107,758 | 76,069 | 306,574 | 187,376 |
Other borrowings | 46,792 | 62,190 | 142,020 | 153,937 |
Securities sold under repurchase agreements | 1,662 | 2,533 | 5,453 | 7,310 |
Subordinated debentures | 38 | 38 | ||
Total interest expense | 156,212 | 140,830 | 454,047 | 348,661 |
NET INTEREST INCOME | 261,691 | 239,524 | 758,721 | 719,450 |
PROVISION FOR CREDIT LOSSES | 0 | 0 | 9,066 | 18,540 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 261,691 | 239,524 | 749,655 | 700,910 |
NONINTEREST INCOME: | ||||
Nonsufficient funds (NSF) fees | 9,016 | 8,719 | 25,457 | 25,326 |
Credit card, debit card and ATM card income | 9,620 | 9,285 | 27,865 | 27,157 |
Service charges on deposit accounts | 6,664 | 6,262 | 19,506 | 18,266 |
Trust income | 3,479 | 3,326 | 11,236 | 9,909 |
Mortgage income | 962 | 857 | 2,317 | 1,756 |
Brokerage income | 1,258 | 1,067 | 3,679 | 3,216 |
Net gain (loss) on sale or write-down of assets | 3,178 | (45) | 2,240 | 2,070 |
Net gain on sale or write-up of securities | 224 | 11,245 | ||
Other | 6,698 | 9,272 | 22,427 | 28,997 |
Total noninterest income | 41,099 | 38,743 | 125,972 | 116,697 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 88,367 | 85,423 | 263,722 | 247,944 |
Net occupancy and equipment | 9,291 | 9,464 | 26,829 | 26,424 |
Credit and debit card, data processing and software amortization | 11,985 | 10,919 | 34,958 | 30,829 |
Regulatory assessments and FDIC insurance | 5,726 | 5,155 | 21,581 | 15,225 |
Core deposit intangibles amortization | 4,146 | 3,576 | 11,539 | 9,117 |
Depreciation | 4,741 | 4,585 | 14,263 | 13,676 |
Communications | 3,360 | 3,686 | 10,247 | 10,841 |
Net other real estate income | (85) | (581) | 64 | (1,033) |
Merger related expenses | 63 | 1,104 | 4,444 | 14,855 |
Other | 12,744 | 12,326 | 41,381 | 36,649 |
Total noninterest expense | 140,338 | 135,657 | 429,028 | 404,527 |
INCOME BEFORE INCOME TAXES | 162,452 | 142,610 | 446,599 | 413,080 |
PROVISION FOR INCOME TAXES | 35,170 | 30,402 | 97,289 | 89,240 |
NET INCOME | $ 127,282 | $ 112,208 | $ 349,310 | $ 323,840 |
EARNINGS PER SHARE: | ||||
Basic | $ 1.34 | $ 1.2 | $ 3.68 | $ 3.5 |
Diluted | $ 1.34 | $ 1.2 | $ 3.68 | $ 3.5 |
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- Definition Debit card data processing and software amortization. No definition available.
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- Definition Amount of revenue or expense recognized during the period for the foreclosure on real estate assets No definition available.
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- Definition Interest income federal funds sold and other earning assets. No definition available.
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- Definition Noninterest income, credit card, debit card and ATM card. No definition available.
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- Definition Noninterest income, mortgage. No definition available.
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- Definition Noninterest income, service charges on deposit accounts. No definition available.
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- Definition Noninterest income, trust. No definition available.
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- Definition Amount of nonsufficient funds fees. No definition available.
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- Definition Provision for credit losses. No definition available.
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance and regulatory assessments. No definition available.
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- Definition Subordinated debentures. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of commission revenue from buying and selling securities on behalf of customers. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense incurred in the period for communication, which is the exchange of information by several methods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of unrealized and realized gain (loss) on investment in debt and equity securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as other. No definition available.
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- Definition Gross expenses on securities sold coupled with an agreement to repurchase the same from the same counterparty at a fixed or determinable price within a fixed or variable time period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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