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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 293,039 $ 254,331 $ 565,100 $ 507,873
Investment securities 13,861 12,852 29,108 24,045
Resale agreements 7,853 7,968 17,321 14,645
Restricted equity securities 470 602 1,247 1,397
Interest-bearing cash and deposits with banks 7,552 3,112 12,668 7,077
Total interest and dividend income 322,775 278,865 625,444 555,037
INTEREST EXPENSE        
Customer deposits 27,045 20,362 50,717 39,659
Federal funds purchased and other short-term borrowings 252 169 665 178
FHLB advances 1,761 1,292 3,791 2,792
Repurchase agreements 2,273 2,196 5,416 4,122
Long-term debt 1,353 1,262 2,642 2,498
Total interest expense 32,684 25,281 63,231 49,249
Net interest income before provision for credit losses 290,091 253,584 562,213 505,788
Provision for credit losses 10,685 6,053 17,753 7,493
Net interest income after provision for credit losses 279,406 247,531 544,460 498,295
NONINTEREST INCOME        
Branch fees 10,700 10,353 20,996 20,575
Letters of credit fees and foreign exchange income 11,986 10,943 23,055 20,496
Ancillary loan fees and other income 5,907 4,285 10,889 7,862
Wealth management fees 3,537 2,778 8,067 5,829
Derivative fees and other income 3,765 1,444 6,271 3,987
Net gains on sales of loans 1,546 2,882 4,300 4,809
Net gains on sales of available-for-sale investment securities 2,720 2,836 5,194 6,678
Net gains on sales of fixed assets 1,042 2,241 73,049 2,430
Other fees and operating income 6,197 6,502 11,602 12,111
Total noninterest income 47,400 44,264 163,423 84,777
NONINTEREST EXPENSE        
Compensation and employee benefits 80,744 73,287 165,347 145,124
Occupancy and equipment expense 15,554 15,748 31,194 30,163
Deposit insurance premiums and regulatory assessments 5,779 5,473 11,708 10,891
Legal expense 2,552 4,346 5,614 7,353
Data processing 3,058 3,295 6,005 5,983
Consulting expense 4,769 5,981 6,688 14,433
Deposit related expense 2,505 2,273 4,870 4,593
Computer software expense 5,462 3,194 9,430 5,936
Other operating expense 19,064 19,226 35,527 38,694
Amortization of tax credit and other investments 27,872 14,006 42,232 28,161
Amortization of core deposit intangibles 1,762 2,050 3,579 4,154
Total noninterest expense 169,121 148,879 322,194 295,485
INCOME BEFORE INCOME TAXES 157,685 142,916 385,689 287,587
INCOME TAX EXPENSE 39,355 39,632 97,623 76,787
NET INCOME $ 118,330 $ 103,284 $ 288,066 $ 210,800
EARNINGS PER SHARE (“EPS”)        
BASIC (in dollars per share) $ 0.82 $ 0.72 $ 2.00 $ 1.46
DILUTED (in dollars per share) $ 0.81 $ 0.71 $ 1.98 $ 1.45
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
BASIC (in shares) 144,485 144,101 144,368 144,029
DILUTED (in shares) 145,740 145,078 145,774 144,973
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40