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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Loans and lease financing $ 194,098 $ 134,646 $ 551,777 $ 350,294
Available-for-sale investment securities 18,426 19,644 55,208 68,394
Held-to-maturity investment securities 18,271 17,950 55,510 36,239
Other 9,004 4,150 20,054 7,828
Total interest income 239,799 176,390 682,549 462,755
Interest expense        
Deposits 74,651 13,653 176,006 20,999
Short-term and long-term borrowings 6,838 1 20,057 1
Other 1,162   2,152  
Total interest expense 82,651 13,654 198,215 21,000
Net interest income 157,148 162,736 484,334 441,755
Provision (benefit) for credit losses 7,500 3,183 21,300 (1,564)
Net interest income after provision for credit losses 149,648 159,553 463,034 443,319
Noninterest income        
Service charges on deposit accounts 7,524 7,089 22,001 21,433
Credit and debit card fees 15,748 17,746 47,507 49,652
Other service charges and fees 9,546 9,179 27,764 27,851
Trust and investment services income 9,742 9,800 28,804 27,442
Bank-owned life insurance 1,872 (341) 10,263 (1,617)
Other 1,665 2,384 6,129 6,613
Total noninterest income 46,097 45,857 142,468 131,374
Noninterest expense        
Salaries and employee benefits 55,937 51,372 169,873 149,500
Contracted services and professional fees 16,393 16,625 50,204 52,389
Occupancy 6,711 8,115 22,047 22,859
Equipment 11,826 10,791 32,562 24,522
Regulatory assessment and fees 4,149 2,487 11,661 7,012
Advertising and marketing 2,289 1,902 6,174 5,924
Card rewards program 8,358 8,141 24,124 22,309
Other 13,720 13,899 42,186 42,034
Total noninterest expense 119,383 113,332 358,831 326,549
Income before provision for income taxes 76,362 92,078 246,671 248,144
Provision for income taxes 18,141 23,060 59,190 62,047
Net income $ 58,221 $ 69,018 $ 187,481 $ 186,097
Basic earnings per share (in dollars per share) $ 0.46 $ 0.54 $ 1.47 $ 1.46
Diluted earnings per share (in dollars per share) $ 0.46 $ 0.54 $ 1.47 $ 1.45
Basic weighted-average outstanding shares (in shares) 127,609,860 127,377,713 127,552,255 127,534,746
Diluted weighted-average outstanding shares (in shares) 127,936,440 127,796,617 127,897,829 127,996,672