INVESTMENTS IN QUALIFIED AFFORDABLE HOUSING PARTNERSHIPS, TAX CREDIT AND OTHER INVESTMENTS, NET (Tables)

9 Months Ended

Sep. 30, 2015

INVESTMENTS IN QUALIFIED AFFORDABLE HOUSING PARTNERSHIPS, TAX CREDIT AND OTHER INVESTMENTS, NET

Summary of the impact of new accounting guidance

The following tables present the impact of the new accounting guidance on the Consolidated Balance Sheet and the Consolidated Statements of Income as of the periods indicated:

	December 31, 2014
($ in thousands)	As Previously Reported		As Revised
Consolidated Balance Sheet:
Investments 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 September 30, 2014						Nine Months Ended September 30, 2014
($ in thousands, except per share data)	As Previously Reported			As Revised			As Previously Reported		As Revised
Consolidated Statements of Income:
Noninterest expense — amortization of tax credit and other investments	$	36,936		$	26,749		$	55,751	$	33,731
Income before income taxes	$	75,112		$	85,299		$	302,408	$	324,428
Income tax (benefit) expense	$	(13,644	)	$	(6,601	)	$	52,923	$	74,052
Net income	$	88,756		$	91,900		$	249,485	$	250,376
Earnings Per Share
Basic	$	0.62		$	0.64		$	1.74	$	1.75
Diluted	$	0.62		$	0.64		$	1.74	$	1.74

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

The following table presents the balances of the Company’s investments in qualified affordable housing partnerships, net and related unfunded commitments as of September 30, 2015 and December 31, 2014:

($ in thousands)	September 30, 2015		December 31, 2014
Investments in qualified affordable housing partnerships, net	$	170,213	$	178,962
Accrued expenses and other liabilities — Unfunded commitments	$	41,985	$	43,311

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

The following table presents other information related to the Company’s investments in qualified affordable housing partnerships, net for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2015		2014		2015		2014
Tax credits and other tax benefits recognized	$	9,237	$	7,932	$	26,617	$	23,373
Amortization expense included in income tax expense	$	6,348	$	5,357	$	18,744	$	16,071