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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 2,048,301,000 $ 1,424,900,000 $ 1,464,382,000
Debt Securities 198,906,000 143,983,000 82,553,000
Resale agreements 29,767,000 32,239,000 21,389,000
Restricted equity securities 3,144,000 2,081,000 1,543,000
Interest-bearing cash and deposits with banks 41,113,000 15,531,000 25,175,000
Total interest and dividend income 2,321,231,000 1,618,734,000 1,595,042,000
INTEREST EXPENSE      
Deposits 251,838,000 69,159,000 184,742,000
Federal funds purchased and other short-term borrowings 1,801,000 42,000 1,504,000
FHLB advances 1,754,000 6,881,000 13,792,000
Repurchase agreements 14,362,000 7,999,000 11,766,000
Long-term debt and finance lease liabilities 5,595,000 3,082,000 6,045,000
Total interest expense 275,350,000 87,163,000 217,849,000
Net interest income before provision for (reversal of) credit losses 2,045,881,000 1,531,571,000 1,377,193,000
Provision for (reversal of) credit losses 73,500,000 (35,000,000) 210,653,000
Net interest income after provision for (reversal of) credit losses 1,972,381,000 1,566,571,000 1,166,540,000
NONINTEREST INCOME      
Lending fees 79,208,000 77,704,000 74,842,000
Deposit account fees 88,435,000 71,261,000 48,148,000
Interest rate contracts and other derivative income 29,057,000 22,913,000 31,685,000
Foreign exchange income 48,158,000 48,977,000 22,370,000
Wealth management fees 27,565,000 25,751,000 17,494,000
Net gains on sales of loans 6,411,000 8,909,000 4,501,000
Gains on sales of AFS debt securities 1,306,000 1,568,000 12,299,000
Other investment income 7,037,000 16,852,000 10,641,000
Other income 11,489,000 11,960,000 13,567,000
Total noninterest income 298,666,000 285,895,000 235,547,000
NONINTEREST EXPENSE      
Compensation and employee benefits 477,635,000 433,728,000 404,071,000
Occupancy and equipment expense 62,501,000 62,996,000 66,489,000
Deposit insurance premiums and regulatory assessments 19,449,000 17,563,000 15,128,000
Deposit account expense 25,508,000 16,152,000 13,530,000
Data processing 14,517,000 16,263,000 16,603,000
Computer software expense 28,259,000 30,600,000 29,033,000
Other operating expense 118,166,000 96,330,000 92,646,000
Amortization of Tax Credit and Other Investments 113,358,000 122,457,000 70,082,000
Repurchase agreements’ extinguishment cost 0 0 8,740,000
Total noninterest expense 859,393,000 796,089,000 716,322,000
INCOME BEFORE INCOME TAXES 1,411,654,000 1,056,377,000 685,765,000
INCOME TAX EXPENSE 283,571,000 183,396,000 117,968,000
NET INCOME $ 1,128,083,000 $ 872,981,000 $ 567,797,000
EARNINGS PER SHARE (“EPS”)      
BASIC (in dollars per share) $ 7.98 $ 6.16 $ 3.99
DILUTED (in dollars per share) $ 7.92 $ 6.10 $ 3.97
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 141,326 141,826 142,336
DILUTED (in shares) 142,492 143,140 142,991