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Business Segments (Tables)
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Financial Information by Business Segment

Condensed financial information by business segment is presented below:

 

 

 

 

 

Trust and

 

 

 

 

 

 

Community

 

 

Investment

 

 

 

 

(unaudited, in thousands)

 

Banking

 

 

Services

 

 

Consolidated

 

For the Three Months Ended March 31, 2024

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

195,333

 

 

$

 

 

$

195,333

 

Interest expense

 

 

81,367

 

 

 

 

 

 

81,367

 

Net interest income

 

 

113,966

 

 

 

 

 

 

113,966

 

Provision for credit losses

 

 

4,014

 

 

 

 

 

 

4,014

 

Net interest income after provision for credit losses

 

 

109,952

 

 

 

 

 

 

109,952

 

Non-interest income

 

 

22,547

 

 

 

8,082

 

 

 

30,629

 

Non-interest expense

 

 

91,968

 

 

 

5,223

 

 

 

97,191

 

Income before provision for income taxes

 

 

40,531

 

 

 

2,859

 

 

 

43,390

 

Provision for income taxes

 

 

7,097

 

 

 

600

 

 

 

7,697

 

Net income

 

 

33,434

 

 

 

2,259

 

 

 

35,693

 

Preferred stock dividends

 

 

2,531

 

 

 

 

 

 

2,531

 

Net income available to common shareholders

 

$

30,903

 

 

$

2,259

 

 

$

33,162

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended March 31, 2023

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

160,555

 

 

$

 

 

$

160,555

 

Interest expense

 

 

36,223

 

 

 

 

 

 

36,223

 

Net interest income

 

 

124,332

 

 

 

 

 

 

124,332

 

Provision for credit losses

 

 

3,577

 

 

 

 

 

 

3,577

 

Net interest income after provision for credit losses

 

 

120,755

 

 

 

 

 

 

120,755

 

Non-interest income

 

 

20,159

 

 

 

7,494

 

 

 

27,653

 

Non-interest expense

 

 

91,617

 

 

 

4,508

 

 

 

96,125

 

Income before provision for income taxes

 

 

49,297

 

 

 

2,986

 

 

 

52,283

 

Provision for income taxes

 

 

9,315

 

 

 

627

 

 

 

9,942

 

Net income

 

 

39,982

 

 

 

2,359

 

 

 

42,341

 

Preferred stock dividends

 

 

2,531

 

 

 

 

 

 

2,531

 

Net income available to common shareholders

 

$

37,451

 

 

$

2,359

 

 

$

39,810