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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Loans and leases $ 324,288 $ 326,099 $ 647,311 $ 651,647
Investment securities interest and dividend income 35,432 36,605 66,284 76,098
Overnight investments 2,105 553 3,553 5,071
Total interest income 361,825 363,257 717,148 732,816
Interest expense        
Deposits 8,542 17,916 17,335 42,110
Securities sold under customer repurchase agreements 356 399 694 841
Federal Home Loan Bank borrowings 2,099 2,472 4,186 5,456
Subordinated debt 4,181 4,677 8,369 7,432
Interest Expense, Other 254 399 519 1,183
Total interest expense 15,432 25,863 31,103 57,022
Net interest income 346,393 337,394 686,045 675,794
Provision (credit) for loan and lease losses (19,603) 20,552 (30,577) 48,907
Net interest income after provision for loan and lease losses 365,996 316,842 716,622 626,887
Noninterest income        
Other service charges and fees 8,959 7,145 17,448 14,937
Insurance commissions 11,654 64,570 27,665 13,162
Realized gains on investment securities available for sale, net 15,830 13,752 25,037 33,547
Other 1,864 2,697 3,724 3,322
Total noninterest income 134,150 165,402 270,799 229,413
Noninterest expense        
Salaries and wages 153,643 146,633 301,473 291,888
Employee benefits 35,298 30,364 71,023 68,875
Occupancy expense 28,439 29,556 58,182 57,036
Equipment expense 28,902 28,774 58,705 56,624
Processing fees paid to third parties 14,427 10,186 28,100 20,558
FDIC insurance expense 3,382 3,731 6,600 7,197
Collection and foreclosure-related expenses 173 3,949 2,371 8,003
Merger-related expenses 5,769 4,369 12,588 8,601
Other 31,545 34,117 58,462 72,868
Total noninterest expense 301,578 291,679 597,504 591,650
Income before income taxes 198,568 190,565 389,917 264,650
Income taxes 45,780 36,779 89,813 53,695
Net income 152,788 153,786 300,104 210,955
Preferred stock dividends 4,636 4,790 9,272 4,790
Net income available to common shareholders $ 148,152 $ 148,996 $ 290,832 $ 206,165
Average shares outstanding (in shares) 9,816,405 10,105,520 9,816,405 10,289,320
Net income per share $ 15.09 $ 14.74 $ 29.63 $ 20.04
Service charges on deposit accounts        
Noninterest income        
Revenue from contract with customers $ 22,471 $ 17,587 $ 42,431 $ 35,747
Cardholder services, net        
Noninterest income        
Revenue from contract with customers 8,532 5,363 17,449 11,251
Mortgage income        
Noninterest income        
Revenue from contract with customers 31,753 22,371 63,951 48,783
Merchant services, net        
Noninterest income        
Revenue from contract with customers 21,883 17,522 43,419 43,935
ATM income        
Noninterest income        
Revenue from contract with customers 5,929 9,811 18,920 15,035
Realized gains on investment securities available for sale, net        
Noninterest income        
Revenue from contract with customers 3,704 3,189 7,702 6,877
Gain on extinguishment of debt        
Noninterest income        
Revenue from contract with customers $ 1,571 $ 1,395 $ 3,053 $ 2,817