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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans $ 570,120 $ 446,245 $ 1,111,330 $ 873,036
Money market investments 100,775 23,742 166,499 30,206
Investment securities 123,112 101,774 255,200 198,240
Total interest income 794,007 571,761 1,533,029 1,101,482
Interest expense:        
Deposits 243,488 27,827 436,703 52,610
Short-term borrowings 1,624 248 4,509 328
Long-term debt 17,227 9,824 28,493 20,370
Total interest expense 262,339 37,899 469,705 73,308
Net interest income 531,668 533,862 1,063,324 1,028,174
Provision for credit losses (benefit) 37,192 9,362 84,829 (6,138)
Net interest income after provision for credit losses (benefit) 494,476 524,500 978,495 1,034,312
Mortgage banking activities 2,316 13,575 9,716 26,440
Net gain (loss), including impairment on equity securities 1,384 (4,109) 2,484 (6,203)
Net gain (loss) on trading account debt securities 35 51 413 (672)
Adjustments to indemnity reserves on loans sold (456) 170 156 (575)
Other operating income 25,146 24,464 52,863 52,006
Total non-interest income 160,471 157,411 322,432 312,103
Operating expenses:        
Personnel costs 191,468 168,788 390,228 335,784
Net occupancy expenses 27,165 26,214 53,204 50,937
Equipment expenses 9,561 8,674 17,973 17,063
Other taxes 16,409 15,780 32,700 31,495
Professional fees 50,132 38,430 83,563 75,222
Technology and software expenses 72,354 74,761 140,913 145,296
Processing and transactional services 36,801 31,037 70,710 61,990
Communications 4,175 3,497 8,263 7,170
Business promotion 25,083 21,353 43,954 36,436
FDIC deposit insurance 6,803 6,463 15,668 13,835
Other real estate owned (OREO) income (3,314) (7,806) (5,008) (10,519)
Other operating expenses 22,852 18,292 47,213 42,222
Amortization of intangibles 795 795 1,590 1,686
Total operating expenses 460,284 406,278 900,971 808,617
Income before income tax 194,663 275,633 399,956 537,798
Income tax expense 43,503 64,212 89,817 114,691
Net Income 151,160 211,421 310,139 423,107
Net Income Applicable to Common Stock $ 150,807 $ 211,068 $ 309,433 $ 422,401
Net Income per Common Share - Basic $ 2.10 $ 2.77 $ 4.32 $ 5.46
Net Income per Common Share - Diluted $ 2.10 $ 2.77 $ 4.32 $ 5.46
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 37,781 $ 41,809 $ 72,459 $ 82,522
Other services        
Interest expense:        
Revenue from contract with customer $ 94,265 $ 81,451 $ 184,341 $ 158,585