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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Interest and fees on loans $ 715,172 $ 415,577 $ 1,370,398 $ 732,942
Interest and dividends on investment securities:        
Taxable 31,919 27,534 64,208 45,973
Tax-exempt 5,575 5,191 10,900 7,708
Dividends 7,517 3,076 12,702 4,752
Interest on federal funds sold and other short-term investments 27,276 1,569 49,481 2,030
Total interest income 787,459 452,947 1,507,689 793,405
Interest on deposits:        
Savings, NOW and money market 164,842 17,122 315,608 26,749
Time 125,764 3,269 206,062 6,100
Interest on short-term borrowings 50,208 4,083 84,156 4,889
Interest on long-term borrowings and junior subordinated debentures 26,880 10,313 46,078 19,838
Total interest expense 367,694 34,787 651,904 57,576
Net Interest Income 419,765 418,160 855,785 735,829
(Credit) provision for credit losses for available for sale and held to maturity securities (282) 286 4,705 343
Provision for credit losses for loans 6,332 43,712 15,782 47,212
Net Interest Income After Provision for Credit Losses 413,715 374,162 835,298 688,274
Non-Interest Income        
Insurance commissions 3,139 3,463 5,559 5,322
Capital markets 16,967 14,711 27,859 29,071
Gains (losses) on securities transactions, net 217 (309) 595 (1,381)
Fees from loan servicing 2,702 2,717 5,373 5,498
Gains on sales of loans, net 1,240 3,602 1,729 4,588
Bank owned life insurance 2,443 2,113 5,027 4,159
Other 11,649 12,592 26,451 19,559
Total non-interest income 60,075 58,533 114,374 97,803
Non-Interest Expense        
Salary and employee benefits expense 149,594 154,798 294,580 262,531
Net occupancy expense 25,949 22,429 49,205 44,420
Technology, furniture and equipment expense 32,476 49,866 68,984 75,880
FDIC insurance assessment 10,426 5,351 19,581 9,509
Amortization of other intangible assets 9,812 11,400 20,331 15,837
Professional and legal fees 21,406 30,409 38,220 45,158
Amortization of tax credit investments 5,018 3,193 9,271 6,089
Other 28,290 22,284 54,965 37,646
Total non-interest expense 282,971 299,730 555,137 497,070
Income Before Income Taxes 190,819 132,965 394,535 289,007
Income tax expense 51,759 36,552 108,924 75,866
Net Income 139,060 96,413 285,611 213,141
Dividends on preferred stock 4,030 3,172 7,904 6,344
Net Income Available to Common Shareholders $ 135,030 $ 93,241 $ 277,707 $ 206,797
Earnings Per Common Share:        
Basic (usd per share) $ 0.27 $ 0.18 $ 0.55 $ 0.45
Diluted (usd per share) $ 0.27 $ 0.18 $ 0.55 $ 0.44
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 11,176 $ 9,577 $ 20,763 $ 14,708
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 10,542 $ 10,067 $ 21,018 $ 16,279