CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
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| Interest income | ||||
| Interest and fees on loans | $ 361,407 | $ 345,138 | $ 1,037,537 | $ 975,443 |
| Investment securities | 38,389 | 27,070 | 104,117 | 79,840 |
| Interest bearing cash and cash equivalents | 52,737 | 53,561 | 150,325 | 157,568 |
| Total interest income | 452,533 | 425,769 | 1,291,979 | 1,212,851 |
| Interest expense | ||||
| Deposits | 190,255 | 160,117 | 547,135 | 417,602 |
| Short-term borrowings | 13,784 | 19,576 | 39,316 | 52,573 |
| Long-term debt | 8,392 | 14,005 | 33,835 | 43,270 |
| Total interest expense | 212,431 | 193,698 | 620,286 | 513,445 |
| Net interest income | 240,102 | 232,071 | 671,693 | 699,406 |
| Provision for credit losses | 10,000 | 18,000 | 49,000 | 53,000 |
| Net interest income after provision for credit losses | 230,102 | 214,071 | 622,693 | 646,406 |
| Non-interest income | ||||
| Service charges on deposit accounts | 6,307 | 5,297 | 18,557 | 15,477 |
| Wealth management and trust fee income | 4,040 | 3,509 | 11,306 | 10,653 |
| Brokered loan fees | 2,400 | 2,532 | 6,442 | 6,842 |
| Investment banking and advisory fees | 34,753 | 23,099 | 78,225 | 56,764 |
| Trading income | 5,786 | 6,092 | 16,148 | 18,693 |
| Available-for-sale debt securities gains/(losses), net | (179,581) | 0 | (179,581) | 489 |
| Other | 11,524 | 6,343 | 25,875 | 21,368 |
| Total non-interest income | (114,771) | 46,872 | (23,028) | 130,286 |
| Non-interest expense | ||||
| Salaries and benefits | 121,138 | 110,010 | 368,705 | 351,730 |
| Occupancy expense | 12,937 | 9,910 | 33,340 | 29,011 |
| Marketing | 5,863 | 4,757 | 17,895 | 20,168 |
| Legal and professional | 11,135 | 17,614 | 38,603 | 47,797 |
| Communications and technology | 25,951 | 19,607 | 69,078 | 57,655 |
| Federal Deposit Insurance Corporation insurance assessment | 4,906 | 5,769 | 18,897 | 11,632 |
| Other | 13,394 | 12,224 | 39,608 | 37,569 |
| Total non-interest expense | 195,324 | 179,891 | 586,126 | 555,562 |
| Income/(loss) before income taxes | (79,993) | 81,052 | 13,539 | 221,130 |
| Income tax expense/(benefit) | (18,674) | 19,373 | 7,054 | 52,139 |
| Net income/(loss) | (61,319) | 61,679 | 6,485 | 168,991 |
| Preferred stock dividends | (4,313) | (4,313) | (12,938) | (12,938) |
| Net income/(loss) available to common stockholders | (65,632) | 57,366 | (6,453) | 156,053 |
| Other comprehensive income/(loss) | ||||
| Change in unrealized gain/(loss) | 109,849 | (102,330) | 53,567 | (158,619) |
| Amounts reclassified into net income/(loss) | 199,599 | 19,285 | 239,132 | 48,531 |
| Other comprehensive income/(loss) | 309,448 | (83,045) | 292,699 | (110,088) |
| Income tax expense/(benefit) | 69,873 | (17,441) | 58,852 | (23,119) |
| Other comprehensive income/(loss), net of tax | 239,575 | (65,604) | 233,847 | (86,969) |
| Comprehensive income/(loss) | $ 178,256 | $ (3,925) | $ 240,332 | $ 82,022 |
| Basic earnings/(loss) per common share | ||||
| Basic earnings/(loss) per common share (in usd per share) | $ (1.42) | $ 1.19 | $ (0.14) | $ 3.24 |
| Diluted earnings/(loss) per common share | ||||
| Diluted earnings/(loss) per common share (in usd per share) | $ (1.41) | $ 1.18 | $ (0.14) | $ 3.20 |
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- Definition Fees And Commissions, Investment Banking and Advisory Fees No definition available.
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- Definition Fees And Commissions, Service Charges On Depositor Accounts No definition available.
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- Definition Fees And Commissions, Trading Income No definition available.
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- References No definition available.
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- Definition Other Comprehensive Income (Loss), after Reclassifications, before Tax No definition available.
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- Definition Other Comprehensive Income (Loss) after Reclassifications, Tax No definition available.
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- Definition Other Comprehensive Income (Loss), Gain (Loss), before Reclassifications and tax No definition available.
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- Definition Other Comprehensive Income (Loss), Gain (Loss), Reclassifications, before Tax No definition available.
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- Definition Wealth Management And Trust Fee Income No definition available.
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- Definition The amount of expense in the period for communications and data processing expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as other. No definition available.
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- Definition Interest expense incurred during the reporting period on subordinated notes and debentures. Includes amortization of expenses incurred in the issuance of subordinated notes and debentures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest earned on deposits in United States money market accounts and other United States interest earning accounts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) bank owned life insurance; (3) foreign currency transactions; and (4) mortgage servicing rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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