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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 968,625 $ 1,059,205 $ 979,394
Available-for-sale investment securities 41,375 44,684 43,846
Resale agreements 19,799 20,323 21,236
Investment in FHLB and Federal Reserve Bank stock 6,077 6,272 6,869
Due from banks and short-term investments 17,939 23,214 17,340
Total interest and dividend income 1,053,815 1,153,698 1,068,685
INTEREST EXPENSE      
Customer deposits 73,505 65,486 63,496
Short-term borrowings 58 0 6
FHLB advances 4,270 4,116 4,173
Repurchase agreements 20,907 38,395 41,381
Long-term debt 4,636 4,823 3,436
Total interest expense 103,376 112,820 112,492
Net interest income before provision for credit losses 950,439 1,040,878 956,193
Provision for credit losses 14,217 49,158 22,364
Net interest income after provision for credit losses 936,222 991,720 933,829
NONINTEREST INCOME (LOSS)      
Branch fees 39,495 37,866 32,036
Letters of credit fees and foreign exchange income 38,985 37,323 34,774
Ancillary loan fees 15,029 10,616 9,368
Wealth management fees 18,268 16,162 10,878
Derivative commission income 16,193 12,753 8,813
Changes in Federal Deposit Insurance Corporation (“FDIC”) indemnification asset and receivable/payable (37,980) (201,417) (228,585)
Net gains on sales of loans 24,874 39,132 7,750
Net gains on sales of available-for-sale investment securities 40,367 10,851 12,089
Other fees and other operating income 28,152 25,000 20,409
Total noninterest income (loss) 183,383 (11,714) (92,468)
NONINTEREST EXPENSE      
Compensation and employee benefits 262,193 231,838 175,906
Occupancy and equipment expense 61,292 63,815 56,641
Amortization of tax credit and other investments (1) [1] 36,120 44,092 5,973
Amortization of premiums on deposits acquired 9,234 10,204 9,365
Deposit insurance premiums and regulatory assessments 18,772 21,922 16,550
Deposit related expenses 9,582 7,536 6,536
Other real estate owned (“OREO”) income (8,914) (3,591) (1,128)
Legal expense 16,373 53,018 31,718
Data processing 10,185 15,888 9,095
Consulting expense 17,234 8,511 6,446
Repurchase agreements’ extinguishment costs 21,818 0 0
Other operating expense 86,995 79,750 77,113
Total noninterest expense [1] 540,884 532,983 394,215
Income before income taxes [1] 578,721 447,023 447,146
INCOME TAX EXPENSE [1] 194,044 101,145 153,822
NET INCOME [1] 384,677 345,878 293,324
PREFERRED STOCK DIVIDENDS 0 0 3,428
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS [1] $ 384,677 $ 345,878 $ 289,896
EARNINGS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS      
BASIC (in dollars per share) [1] $ 2.67 $ 2.42 $ 2.10
DILUTED (in dollars per share) [1] $ 2.66 $ 2.41 $ 2.09
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 143,818 142,952 137,342
DILUTED (in shares) 144,512 143,563 139,574
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.80 $ 0.72 $ 0.60
[1] Prior period was restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects Accounting Standards Update (“ASU”) 2014-01. Please see Note 9 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.