Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information, by Segment

Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:


		Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
(in thousands)		Core Banking		Mortgage Banking		Consolidated		Core Banking		Mortgage Banking		Consolidated
Net interest income		$	247,009	$	1,161	$	248,170	$	226,915	$	2,848	$	229,763
Provision (recapture) for credit losses		18,692		—		18,692		(22,996)		—		(22,996)
Non-interest income
	Residential mortgage banking revenue:
	Origination and sale	—		15,101		15,101		—		41,367		41,367
	Servicing	—		9,505		9,505		—		9,120		9,120
	Change in fair value of MSR asset:
	Changes due to collection/realization of expected cash flows over time	—		(4,961)		(4,961)		—		(4,366)		(4,366)
	Changes due to valuation inputs or assumptions	—		10,899		10,899		—		(1,678)		(1,678)

	(Loss) gain on equity securities, net	(2,075)		—		(2,075)		4		—		4
	Gain (loss) on swap derivatives, net	7,337		—		7,337		(4,481)		—		(4,481)
	Change in fair value of certain loans held for investment	(15,210)		—		(15,210)		2,782		—		2,782
	Non-interest income (excluding above items)	34,461		178		34,639		48,151		176		48,327
	Total non-interest income	24,513		30,722		55,235		46,456		44,619		91,075
Non-interest expense
	Merger related expenses	2,672		—		2,672		—		—		—
	Exit and disposal costs	442		—		442		4,728		—		4,728
	Non-interest expense (excluding above items)	148,946		27,514		176,460		146,877		37,795		184,672
	Allocated expenses, net (1)	3,702		(3,702)		—		970		(970)		—
	Total non-interest expense	155,762		23,812		179,574		152,575		36,825		189,400
Income before income taxes		97,068		8,071		105,139		143,792		10,642		154,434
Provision for income taxes		24,530		2,018		26,548		35,630		2,661		38,291
Net income		$	72,538	$	6,053	$	78,591	$	108,162	$	7,981	$	116,143
(1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, partially offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs.


		Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
(in thousands)		Core Banking		Mortgage Banking		Consolidated		Core Banking		Mortgage Banking		Consolidated
Net interest income		$	474,096	$	2,837	$	476,933	$	444,489	$	6,705	$	451,194
Provision (recapture) for credit losses		23,496		—		23,496		(22,996)		—		(22,996)
Non-interest income
	Residential mortgage banking revenue:
	Origination and sale	—		31,945		31,945		—		103,872		103,872
	Servicing	—		18,645		18,645		—		18,207		18,207
	Change in fair value of MSR asset:
	Changes due to collection/realization of expected cash flows over time	—		(10,308)		(10,308)		—		(8,911)		(8,911)
	Changes due to valuation inputs or assumptions	—		51,048		51,048		—		(3,692)		(3,692)
	Gain on sale of debt securities, net	2		—		2		4		—		4
	Loss on equity securities, net	(4,736)		—		(4,736)		(702)		—		(702)
	Gain on swap derivatives, net	14,384		—		14,384		7,269		—		7,269
	Change in fair value of certain loans held for investment	(36,259)		—		(36,259)		2,272		—		2,272
	Non-interest income (excluding above items)	70,111		372		70,483		81,064		492		81,556
	Total non-interest income	43,502		91,702		135,204		89,907		109,968		199,875
Non-interest expense
	Merger related expenses	4,950		—		4,950		—		—		—
	Exit and disposal costs	3,475		—		3,475		5,928		—		5,928
	Non-interest expense (excluding above items)	297,369		56,210		353,579		292,038		79,026		371,064
	Allocated expenses, net (1)	7,437		(7,437)		—		180		(180)		—
	Total non-interest expense	313,231		48,773		362,004		298,146		78,846		376,992
Income before income taxes		180,871		45,766		226,637		259,246		37,827		297,073
Provision for income taxes		45,447		11,442		56,889		63,736		9,457		73,193
Net income		$	135,424	$	34,324	$	169,748	$	195,510	$	28,370	$	223,880
(1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs.


	June 30, 2022						December 31, 2021
(in thousands)	Core Banking		Mortgage Banking		Consolidated		Core Banking		Mortgage Banking		Consolidated
Total assets	$	29,721,590	$	414,104	$	30,135,694	$	30,155,058	$	485,878	$	30,640,936
Loans held for sale	$	—	$	228,889	$	228,889	$	—	$	353,105	$	353,105
Total loans and leases	$	24,432,678	$	—	$	24,432,678	$	22,553,180	$	—	$	22,553,180
Total deposits	$	25,925,294	$	207,129	$	26,132,423	$	26,370,568	$	224,117	$	26,594,685