XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Interest and fees on loans and leases $ 575,044 $ 413,525
Interest and dividends on investment securities:    
Taxable 75,017 39,729
Exempt from federal income tax 6,904 3,397
Dividends 3,707 719
Interest on temporary investments and interest-bearing deposits 23,553 18,581
Total interest income 684,225 475,951
INTEREST EXPENSE    
Interest on deposits 198,435 63,613
Interest on securities sold under agreement to repurchase and federal funds purchased 1,266 406
Interest on borrowings 51,275 28,764
Interest on junior and other subordinated debentures 9,887 8,470
Total interest expense 260,863 101,253
Net interest income 423,362 374,698
PROVISION FOR CREDIT LOSSES  17,136 105,539
Net interest income after provision for credit losses 406,226 269,159
NON-INTEREST INCOME    
Residential mortgage banking revenue, net 4,634 7,816
Gain on sale of debt securities, net 12 0
(Loss) gain on equity securities, net (1,565) 2,416
Gain on loan and lease sales, net 221 940
Bank-owned life insurance income 4,639 2,790
Noninterest Income, Other Operating Income 8,705 13,603
Total non-interest income 50,357 54,735
NON-INTEREST EXPENSE    
Salaries and employee benefits 154,538 136,092
Occupancy and equipment, net 45,291 41,700
Communications 3,782 3,026
Marketing 1,936 1,059
Services 13,422 12,843
FDIC assessments 14,460 6,113
Intangible amortization 32,091 12,660
Business Combination, Acquisition Related Costs 4,478 115,898
Other expenses 17,518 13,427
Total non-interest expense 287,516 342,818
Income (loss) before provision for income taxes 169,067 (18,924)
Provision (benefit) for income taxes 44,987 (4,886)
Net income (loss) $ 124,080 $ (14,038)
Earnings (loss) per common share:    
Basic (in dollars per share) $ 0.60 $ (0.09)
Diluted (in dollars per share) $ 0.59 $ (0.09)
Weighted average number of common shares outstanding:    
Basic (in shares) 208,260 156,383
Diluted (in shares) 208,956 156,383
Service charges on deposits    
NON-INTEREST INCOME    
Revenue from contract with customer $ 16,064 $ 14,312
Card-based Fees    
NON-INTEREST INCOME    
Revenue from contract with customer 13,183 11,561
Financial services and trust revenue    
NON-INTEREST INCOME    
Revenue from contract with customer $ 4,464 $ 1,297