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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans $ 638,730 $ 541,210
Money market investments 88,516 65,724
Investment securities 166,895 132,088
Total interest income 894,141 739,022
Interest expense:    
Deposits 329,496 193,215
Short-term borrowings 1,192 2,885
Long-term debt 12,709 11,266
Total interest expense 343,397 207,366
Net interest income 550,744 531,656
Provision for credit losses 72,598 47,637
Net interest income after provision for credit losses 478,146 484,019
Mortgage banking activities 4,360 7,400
Net gain, including impairment on equity securities 1,103 1,100
Net gain on trading account debt securities 361 378
Adjustments to indemnity reserves on loans sold (237) 612
Other operating income 26,517 27,717
Total non-interest income 163,818 161,961
Operating expenses:    
Personnel costs 215,377 198,760
Net occupancy expenses 28,041 26,039
Equipment expenses 9,567 8,412
Other taxes 14,375 16,291
Professional fees 28,918 33,431
Technology and software expenses 79,462 68,559
Processing and transactional services 34,194 33,909
Communications 4,557 4,088
Business promotion 20,989 18,871
Deposit insurance 23,887 8,865
Other real estate owned (OREO) income (5,321) (1,694)
Other operating expenses 28,272 24,361
Amortization of intangibles 795 795
Total operating expenses 483,113 440,687
Income before income tax 158,851 205,293
Income tax expense 55,568 46,314
Net Income 103,283 158,979
Net Income Applicable to Common Stock $ 102,930 $ 158,626
Net Income per Common Share - Basic $ 1.43 $ 2.22
Net Income per Common Share - Diluted $ 1.43 $ 2.22
Service charges on deposit accounts    
Interest expense:    
Revenue from contract with customer $ 37,442 $ 34,678
Other service fees    
Interest expense:    
Revenue from contract with customer $ 94,272 $ 90,076