v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Loans $ 666,673 $ 638,730
Money market investments 70,166 88,516
Investment securities 180,159 166,895
Total interest income 916,998 894,141
Interest expense:    
Deposits 297,863 329,496
Short-term borrowings 1,426 1,192
Long-term debt 12,112 12,709
Total interest expense 311,401 343,397
Net interest income 605,597 550,744
Provision for credit losses 64,081 72,598
Net interest income after provision for credit losses 541,516 478,146
Service charges on deposit accounts 39,054 37,442
Other service fees 94,508 94,272
Mortgage banking activities 3,689 4,360
Net (loss) gain, including impairment on equity securities (414) 1,103
Net gain on trading account debt securities 520 361
Adjustments to indemnity reserves on loans sold 173 (237)
Other operating income 14,531 26,517
Total non-interest income 152,061 163,818
Operating expenses:    
Personnel costs 212,713 215,377
Net occupancy expenses 27,218 28,041
Equipment expenses 5,302 9,567
Other taxes 18,725 14,375
Professional fees 26,825 28,918
Technology and software expenses 83,668 79,462
Processing and transactional services 37,781 34,194
Communications 4,904 4,557
Business promotion 23,675 20,989
Deposit insurance 10,035 23,887
Other real estate owned (OREO) expense (income) (3,330) (5,321)
Other operating expenses 22,899 28,272
Amortization of intangibles 597 795
Total operating expenses 471,012 483,113
Income before income tax 222,565 158,851
Income tax expense 45,063 55,568
Net Income 177,502 103,283
Net Income Applicable to Common Stock $ 177,149 $ 102,930
Net Income per Common Share - Basic $ 2.56 $ 1.43
Net Income per Common Share - Diluted $ 2.56 $ 1.43