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CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME/(LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Interest and fees on loans $ 1,300,653 $ 983,794 $ 820,476
Investment securities 108,294 63,179 42,820
Interest bearing cash and cash equivalents 220,976 97,271 13,233
Total interest income 1,629,923 1,144,244 876,529
Interest expense      
Deposits 587,775 190,663 65,507
Short-term borrowings 70,642 29,077 4,613
Long-term debt 57,383 48,739 37,628
Total interest expense 715,800 268,479 107,748
Net interest income 914,123 875,765 768,781
Provision/(benefit) for credit losses 72,000 66,000 (30,000)
Net interest income after provision for credit losses 842,123 809,765 798,781
Non-interest income      
Service charges on deposit accounts 20,874 23,266 19,054
Wealth management and trust fee income 13,955 15,036 13,173
Brokered loan fees 8,918 14,159 27,954
Investment banking and trading income 86,182 35,054 24,441
Gain on disposal of subsidiary 0 248,526 0
Other 31,490 13,481 53,664
Total non-interest income 161,419 349,522 138,286
Non-interest expense      
Salaries and benefits 459,700 434,906 350,197
Occupancy expense 38,494 44,222 33,232
Marketing 25,854 32,388 10,006
Legal and professional 64,924 75,858 41,152
Communications and technology 81,262 69,253 75,185
Federal Deposit Insurance Corporation insurance assessment 36,775 14,344 21,027
Servicing-related expenses 0 0 27,765
Other 49,938 56,561 40,448
Total non-interest expense 756,947 727,532 599,012
Income before income taxes 246,595 431,755 338,055
Income tax expense 57,454 99,277 84,116
Net income 189,141 332,478 253,939
Preferred stock dividends (17,250) (17,250) (18,721)
Net income available to common stockholders 171,891 315,228 235,218
Other comprehensive income/(loss)      
Change in unrealized gain/(loss) 3,834 (479,814) (80,366)
Amounts reclassified into net income 68,241 9,905 0
Other comprehensive income/(loss) 72,075 (469,909) (80,366)
Income tax expense/(benefit) 15,136 (98,681) (16,877)
Other comprehensive income/(loss), net of tax 56,939 (371,228) (63,489)
Comprehensive income/(loss) $ 246,080 $ (38,750) $ 190,450
Basic earnings per common share      
Basic earnings per common share $ 3.58 $ 6.25 $ 4.65
Diluted earnings per common share      
Diluted earnings per common share $ 3.54 $ 6.18 $ 4.60