XML 18 R4.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and Dividend Income      
Loan receivable $ 801,981 $ 649,224 $ 677,193
Investment securities 28,240 14,151 20,599
Federal Home Loan Bank stock 1,103 991 952
Deposits with banks 19,957 2,145 1,830
Total interest and dividend income 851,281 666,511 700,574
Interest Expense      
Time deposits 56,354 40,542 111,629
Other deposits 48,942 21,259 25,396
Advances from the Federal Home Loan Bank 5,880 1,182 5,299
Long-term debt 5,546 5,773 5,791
Deferred payments from acquisition 0 0 115
Short-term borrowings 862 0 234
Total interest expense 117,584 68,756 148,464
Net interest income before provision/(reversal) for credit losses 733,697 597,755 552,110
Provision/(reversal) for credit losses (14,543) 16,008 (57,500)
Net interest income after provision/(reversal) for credit losses 719,154 613,763 494,610
Non-Interest Income      
Net gains/(losses) from equity securities 392 (1,426) (1,148)
Securities gains, net 0 853 1,695
Letters of credit commissions 6,351 7,103 6,741
Other operating income 27,112 27,433 20,054
Total non-interest income 56,814 54,603 42,820
Non-Interest Expense      
Salaries and employee benefits 142,546 132,795 124,022
Occupancy expense 22,808 20,318 20,634
Computer and equipment expense 13,603 13,549 11,133
Professional services expense 28,237 23,666 21,856
Data processing service expense 13,181 13,607 14,897
FDIC and State assessments 8,037 7,132 8,999
Marketing expense 6,863 6,913 5,224
Other real estate owned expense/(income) 127 343 (3,091)
Amortization of investments in low income housing and alternative energy partnerships 42,065 45,447 58,225
Amortization of core deposit premium 1,892 687 687
Cost associated with debt redemption 0 732 693
Acquisition, integration and reorganization costs 4,127 1,425 0
Other operating expense 19,946 19,909 20,186
Total non-interest expense 303,432 286,523 283,465
Income before income tax expense 472,536 381,843 253,965
Income tax expense 111,894 83,539 25,105
Net income 360,642 298,304 228,860
Other Comprehensive Income/(Loss), Net of Tax:      
Net holding (losses)/gains on securities available-for-sale (105,043) (11,989) 6,486
Loss, net of taxes (1) 5,813 3,614 (3,478)
Total other comprehensive income/(loss), net of tax (99,230) (8,375) 3,008
Total comprehensive income/(loss) $ 261,412 $ 289,929 $ 231,868
Net Income Per Common Share      
Basic (in dollars per share) $ 4.85 $ 3.81 $ 2.88
Diluted (in dollars per share) 4.83 3.80 2.87
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) $ 1.36 $ 1.27 $ 1.24
Average Common Shares Outstanding:      
Basic (in shares) 74,337,265 78,268,369 79,584,560
Diluted (in shares) 74,664,735 78,570,638 79,777,847
Deposit Account [Member]      
Non-Interest Income      
Non-Interest Income $ 6,523 $ 5,584 $ 4,949
Asset Management [Member]      
Non-Interest Income      
Non-Interest Income $ 16,436 $ 15,056 $ 10,529