v3.24.2
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME/(LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Interest and fees on loans $ 345,251 $ 332,867 $ 676,130 $ 630,305
Investment securities 33,584 27,478 65,728 52,770
Interest bearing cash and cash equivalents 43,233 41,571 97,588 104,007
Total interest income 422,068 401,916 839,446 787,082
Interest expense        
Deposits 181,280 137,391 356,880 257,485
Short-term borrowings 12,749 18,253 25,532 32,997
Long-term debt 11,457 14,282 25,443 29,265
Total interest expense 205,486 169,926 407,855 319,747
Net interest income 216,582 231,990 431,591 467,335
Provision for credit losses 20,000 7,000 39,000 35,000
Net interest income after provision for credit losses 196,582 224,990 392,591 432,335
Non-interest income        
Service charges on deposit accounts 5,911 5,158 12,250 10,180
Wealth management and trust fee income 3,699 3,715 7,266 7,144
Brokered loan fees 2,131 2,415 4,042 4,310
Investment banking and advisory fees 25,048 19,101 43,472 33,665
Trading income 5,650 8,397 10,362 12,601
Other 7,985 7,225 14,351 15,514
Total non-interest income 50,424 46,011 91,743 83,414
Non-interest expense        
Salaries and benefits 118,840 113,050 247,567 241,720
Occupancy expense 10,666 9,482 20,403 19,101
Marketing 5,996 6,367 12,032 15,411
Legal and professional 11,273 15,669 27,468 30,183
Communications and technology 22,013 20,525 43,127 38,048
Federal Deposit Insurance Corporation insurance assessment 5,570 3,693 13,991 5,863
Other 14,051 12,858 26,214 25,345
Total non-interest expense 188,409 181,644 390,802 375,671
Income before income taxes 58,597 89,357 93,532 140,078
Income tax expense 16,935 20,706 25,728 32,766
Net income 41,662 68,651 67,804 107,312
Preferred stock dividends (4,312) (4,312) (8,625) (8,625)
Net income available to common stockholders 37,350 64,339 59,179 98,687
Other comprehensive income/(loss)        
Change in unrealized gain/(loss) (13,939) (99,731) (56,282) (56,778)
Amounts reclassified into net income 19,825 16,762 39,533 29,735
Other comprehensive income/(loss) 5,886 (82,969) (16,749) (27,043)
Income tax expense/(benefit) (6,268) (17,423) (11,021) (5,678)
Other comprehensive income/(loss), net of tax 12,154 (65,546) (5,728) (21,365)
Comprehensive income $ 53,816 $ 3,105 $ 62,076 $ 85,947
Basic earnings per common share        
Basic earnings per common share (in usd per share) $ 0.80 $ 1.34 $ 1.26 $ 2.05
Diluted earnings per common share        
Diluted earnings per common share (in usd per share) $ 0.80 $ 1.33 $ 1.25 $ 2.02