v3.25.2
Consolidated Statements of Income and Comprehensive Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income        
Interest and fees on loans $ 315,893 $ 317,664 $ 620,061 $ 621,057
Interest on taxable securities 20,696 16,948 39,188 30,040
Interest on nontaxable securities 334 335 663 665
Interest on deposits in other banks and federal funds sold 10,715 12,376 21,504 25,013
Total interest income 347,638 347,323 681,416 676,775
Interest expense        
Interest on deposits 106,796 121,245 212,011 239,419
Interest on other borrowings 9,029 14,157 15,753 24,047
Total interest expense 115,825 135,402 227,764 263,466
Net interest income 231,813 211,921 453,652 413,309
Provision for loan losses 3,110 25,348 19,629 50,871
Provision for unfunded commitments (335) (6,570) 5,038 (10,992)
Provision for other credit losses (3) (5) (3) (1)
Provision for credit losses 2,772 18,773 24,664 39,878
Net interest income after provision for credit losses 229,041 193,148 428,988 373,431
Noninterest income        
Service charges on deposit accounts 13,493 12,672 26,626 24,431
Mortgage banking activity 39,221 46,399 74,475 85,829
Other service charges, commissions and fees 1,158 1,211 2,267 2,413
Net gain on securities 0 12,335 40 12,328
Equipment finance activity 6,572 4,983 13,270 10,319
Other noninterest income 8,467 11,111 16,256 19,269
Total noninterest income 68,911 88,711 132,934 154,589
Noninterest expense        
Salaries and employee benefits 89,308 88,201 175,923 171,131
Occupancy and equipment 11,401 12,559 22,078 25,444
Data processing and communications expenses 15,366 15,193 30,221 29,847
Credit resolution-related expenses 657 840 1,422 1,326
Advertising and marketing 3,745 3,456 6,628 5,923
Amortization of intangible assets 4,076 4,407 8,179 8,829
Loan servicing expense 7,897 9,792 15,720 19,231
Other noninterest expenses 22,810 20,909 46,123 42,337
Total noninterest expense 155,260 155,357 306,294 304,068
Income before income tax expense 142,692 126,502 255,628 223,952
Income tax expense 32,858 35,717 57,859 58,855
Net income 109,834 90,785 197,769 165,097
Other comprehensive income (loss)        
Net unrealized holding gains (losses) arising during period on debt securities available-for-sale, net of tax expense (benefit) of $2,392, $682, $7,612 and $(717) 7,544 1,939 23,233 (2,081)
Total other comprehensive income (loss) 7,544 1,939 23,233 (2,081)
Comprehensive income $ 117,378 $ 92,724 $ 221,002 $ 163,016
Basic earnings per common share (in dollars per share) $ 1.60 $ 1.32 $ 2.88 $ 2.40
Diluted earnings per common share (in dollars per share) $ 1.60 $ 1.32 $ 2.87 $ 2.39
Weighted average common shares outstanding        
Basic (in shares) 68,594,608 68,824,150 68,689,506 68,818,618
Diluted (in shares) 68,796,577 69,013,834 68,912,750 69,010,010