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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 255,316 $ 244,372 $ 763,189 $ 719,987
Investment securities 13,388 10,279 37,433 29,947
Resale agreements 7,834 4,411 22,479 13,940
Investment in FHLB and Federal Reserve Bank stock 611 1,380 2,008 4,922
Due from banks and short-term investments 3,168 4,190 10,245 14,542
Total interest and dividend income 280,317 264,632 835,354 783,338
INTEREST EXPENSE        
Customer deposits 21,049 18,519 60,708 53,677
Short-term borrowings 212 35 390 53
FHLB advances 1,361 1,074 4,153 3,156
Repurchase agreements 2,319 3,555 6,441 19,494
Long-term debt 1,228 1,160 3,726 3,460
Total interest expense 26,169 24,343 75,418 79,840
Net interest income before provision for credit losses 254,148 240,289 759,936 703,498
Provision for credit losses 9,525 7,736 17,018 16,217
Net interest income after provision for credit losses 244,623 232,553 742,918 687,281
NONINTEREST INCOME        
Branch fees 10,408 9,982 30,983 29,157
Letters of credit fees and foreign exchange income 10,908 7,468 31,404 24,999
Ancillary loan fees 6,135 4,839 13,997 10,307
Wealth management fees 4,033 4,374 9,862 14,310
Derivative commission income 5,375 4,274 12,005 12,037
Net gains on sales of loans 2,158 4,888 6,967 19,719
Net gains on sales of available-for-sale investment securities 1,790 17,036 8,468 26,994
Changes in FDIC indemnification asset and receivable/payable 0 (3,883) 0 (18,973)
Other fees and operating income 8,534 5,203 20,432 20,350
Total noninterest income 49,341 54,181 134,118 138,900
NONINTEREST EXPENSE        
Compensation and employee benefits 75,042 66,185 220,166 193,298
Occupancy and equipment expense 15,456 15,362 45,619 45,990
Amortization of tax credit and other investments 32,618 12,269 60,779 21,565
Amortization of premiums on deposits acquired 2,023 2,310 6,177 7,038
Deposit insurance premiums and regulatory assessments 6,450 4,726 17,341 13,723
Other real estate owned (“OREO”) (income) expense (67) (1,374) 1,484 (7,481)
Legal expense 5,361 2,099 12,714 13,103
Data processing 2,729 2,602 8,712 7,596
Consulting expense 4,594 4,983 19,027 9,596
Deposit related expenses 3,082 2,538 7,675 7,402
Computer software expense 3,331 2,355 9,267 6,404
Repurchase agreements’ extinguishment costs 0 15,193 0 21,818
Other operating expense 19,881 18,497 57,024 55,893
Total noninterest expense 170,500 147,745 465,985 395,945
INCOME BEFORE INCOME TAXES 123,464 138,989 411,051 430,236
INCOME TAX EXPENSE 13,321 44,892 90,108 137,364
NET INCOME $ 110,143 $ 94,097 $ 320,943 $ 292,872
EARNINGS PER SHARE (“EPS”)        
BASIC (in dollars per share) $ 0.76 $ 0.65 $ 2.23 $ 2.04
DILUTED (in dollars per share) $ 0.76 $ 0.65 $ 2.21 $ 2.03
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
BASIC (in shares) 144,122 143,861 144,061 143,788
DILUTED (in shares) 145,238 144,590 145,086 144,468
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.2 $ 0.2 $ 0.6 $ 0.6