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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Loans $ 541,210 $ 426,791
Money market investments 65,724 6,464
Investment securities 132,088 96,466
Total interest income 739,022 529,721
Interest expense:    
Deposits 193,215 24,783
Short-term borrowings 2,885 80
Long-term debt 11,266 10,546
Total interest expense 207,366 35,409
Net interest income 531,656 494,312
Provision for credit losses (benefit) 47,637 (15,500)
Net interest income after provision for credit losses (benefit) 484,019 509,812
Mortgage banking activities 7,400 12,865
Net gain (loss), including impairment on equity securities 1,100 (2,094)
Net gain (loss) on trading account debt securities 378 (723)
Adjustments to indemnity reserves on loans sold 612 (745)
Other operating income 27,717 27,542
Total non-interest income 161,961 154,692
Operating expenses:    
Personnel costs 198,760 166,996
Net occupancy expenses 26,039 24,723
Equipment expenses 8,412 8,389
Other taxes 16,291 15,715
Professional fees 33,431 36,792
Technology and software expenses 68,559 70,535
Processing and transactional services 33,909 30,953
Communications 4,088 3,673
Business promotion 18,871 15,083
FDIC deposit insurance 8,865 7,372
Other real estate owned (OREO) income (1,694) (2,713)
Other operating expenses 24,361 23,930
Amortization of intangibles 795 891
Total operating expenses 440,687 402,339
Income before income tax 205,293 262,165
Income tax expense 46,314 50,479
Net Income 158,979 211,686
Net Income Applicable to Common Stock $ 158,626 $ 211,333
Net Income per Common Share - Basic $ 2.22 $ 2.69
Net Income per Common Share - Diluted $ 2.22 $ 2.69
Service charges on deposit accounts    
Interest expense:    
Revenue from contract with customer $ 34,678 $ 40,713
Other services    
Interest expense:    
Revenue from contract with customer $ 90,076 $ 77,134