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INVESTMENTS IN QUALIFIED AFFORDABLE HOUSING PARTNERSHIPS, NET, TAX CREDIT AND OTHER INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2015
INVESTMENTS IN QUALIFIED AFFORDABLE HOUSING PARTNERSHIPS, NET, TAX CREDIT AND OTHER INVESTMENTS  
Summary of the impact of new accounting guidance

 

 

 

December 31, 2014

 

($ in thousands)

 

As Previously
Reported

 

As Revised

 

Consolidated Balance Sheet:

 

 

 

 

 

Investment in qualified affordable housing partnerships, net

 

 $

178,652 

 

 $

178,962 

 

Other assets   Deferred tax assets

 

 $

384,367 

 

 $

389,601 

 

Retained earnings

 

 $

1,598,598 

 

 $

1,604,141 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
 March 31, 2014

 

($ in thousands)

 

As Previously
Reported

 

As Revised

 

Consolidated Statement of Income:

 

 

 

 

 

Noninterest expense — Amortization of tax credit and other investments

 

 $

5,964 

 

 $

1,492 

 

Income before taxes

 

 $

111,690 

 

 $

116,163 

 

Provision for income taxes

 

 $

34,949 

 

 $

41,992 

 

Net income

 

 $

76,741 

 

 $

74,171 

 

Earnings per share

 

 

 

 

 

Basic

 

 $

0.54 

 

 $

0.52 

 

Diluted

 

 $

0.54 

 

 $

0.52 

 

 

 

 

 

 

 

Schedule of investments in qualified affordable housing partnerships and related unfunded commitments

($ in thousands)

 

March 31, 2015

 

December 31, 2014

 

Investment in qualified affordable housing partnerships, net

 

 $

182,719 

 

 $

178,962 

 

Accrued expenses and other liabilities — Unfunded commitments

 

 $

50,884 

 

 $

43,311 

 

 

 

 

 

 

 

 

Schedule of other information related to investments in qualified affordable housing partnerships

 

 

Three Months Ended March 31,

 

($ in thousands)

 

2015

 

2014

 

Tax credits and other tax benefits recognized

 

 $

8,775 

 

 $

7,792 

 

Amortization expense included in provision for income taxes

 

 $

6,244 

 

 $

5,357