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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME        
Interest and fees on loans and leases $ 569,670 $ 278,830 $ 1,535,874 $ 727,908
Interest and dividends on investment securities:        
Taxable 80,066 18,175 198,831 54,156
Exempt from federal income tax 6,929 1,322 17,143 4,063
Dividends 4,941 86 8,241 256
Interest on temporary investments and interest bearing deposits 34,407 5,115 87,604 9,387
Total interest income 696,013 303,528 1,847,693 795,770
INTEREST EXPENSE        
Interest on deposits 126,974 9,090 290,995 17,021
Interest on securities sold under agreement to repurchase and federal funds purchased 1,220 545 2,697 674
Interest on borrowings 77,080 798 186,848 897
Interest on junior and other subordinated debentures 9,864 5,491 27,605 12,641
Total interest expense 215,138 15,924 508,145 31,233
Net interest income 480,875 287,604 1,339,548 764,537
PROVISION FOR CREDIT LOSSES  36,737 27,572 158,290 51,068
Net interest income after provision for credit losses 444,138 260,032 1,181,258 713,469
NON-INTEREST INCOME        
Residential mortgage banking revenue, net 7,103 17,341 12,577 108,671
Gain on sale of debt securities, net 4 0 4 2
Loss on equity securities, net (2,055) (2,647) (336) (7,383)
Gain on loan and lease sales, net 1,871 1,525 3,253 5,165
Bank owned life insurance income 4,440 2,023 11,293 6,220
Noninterest Income, Other Operating Income (5,117) (10,571) 12,297 (12,670)
Total non-interest income 43,981 29,445 138,394 164,649
NON-INTEREST EXPENSE        
Salaries and employee benefits 159,041 109,164 458,531 333,244
Occupancy and equipment, net 43,070 35,042 135,320 104,430
Communications 4,589 2,542 11,972 7,881
Marketing 2,886 1,505 5,882 5,552
Services 14,341 13,355 41,278 39,094
FDIC assessments 11,200 3,007 28,892 10,477
Intangible amortization 29,879 1,025 78,092 3,076
Merger related expenses 18,938 769 164,485 5,719
Other expenses 20,203 11,555 51,072 30,495
Total non-interest expense 304,147 177,964 975,524 539,968
Income before provision for income taxes 183,972 111,513 344,128 338,150
Provision for income taxes 48,127 27,473 88,944 84,362
Net income $ 135,845 $ 84,040 $ 255,184 $ 253,788
Earnings per common share (1):        
Basic (in dollars per share) [1] $ 0.65 $ 0.65 $ 1.34 $ 1.96
Diluted (in dollars per share) [1] $ 0.65 $ 0.65 $ 1.33 $ 1.96
Weighted average number of common shares outstanding (1):        
Basic (in shares) [1] 208,070 129,319 190,997 129,262
Diluted (in shares) [1] 208,645 129,733 191,546 129,702
Service charges on deposits        
NON-INTEREST INCOME        
Revenue from contract with customer $ 17,410 $ 12,632 $ 48,176 $ 36,226
Card-based Fees        
NON-INTEREST INCOME        
Revenue from contract with customer 15,674 9,115 40,670 28,353
Financial services and trust revenue        
NON-INTEREST INCOME        
Revenue from contract with customer $ 4,651 $ 27 $ 10,460 $ 65
[1] Periods prior to February 28, 2023 have been restated as a result of the adjustment to common shares outstanding based on the exchange ratio from the Merger of 0.5958.