XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 365,555 $ 293,039 $ 703,459 $ 565,100
Investment securities 15,059 13,861 30,515 29,108
Resale agreements 7,182 7,853 14,116 17,321
Restricted equity securities 800 470 1,434 1,247
Interest-bearing cash and deposits with banks 11,715 7,552 22,660 12,668
Total interest and dividend income 400,311 322,775 772,184 625,444
INTEREST EXPENSE        
Deposits 51,265 27,045 90,401 50,717
Federal funds purchased and other short-term borrowings 124 252 131 665
FHLB advances 2,552 1,761 4,812 3,791
Repurchase agreements 3,042 2,273 5,348 5,416
Long-term debt 1,649 1,353 3,120 2,642
Total interest expense 58,632 32,684 103,812 63,231
Net interest income before provision for credit losses 341,679 290,091 668,372 562,213
Provision for credit losses 15,536 10,685 35,754 17,753
Net interest income after provision for credit losses 326,143 279,406 632,618 544,460
NONINTEREST INCOME        
Branch fees 10,140 10,321 20,570 20,245
Letters of credit fees and foreign exchange income 15,673 12,365 25,275 23,806
Ancillary loan fees and other income 5,841 5,907 11,422 10,889
Wealth management fees 4,501 3,381 7,454 7,716
Derivative fees and other income 6,570 3,765 13,260 6,271
Net gains on sales of loans 2,354 1,546 3,936 4,300
Net gains on sales of available-for-sale investment securities 210 2,720 2,339 5,194
Net gains on sales of fixed assets 1,114 1,042 2,200 73,049
Net gain on sale of business 0 0 31,470 0
Other fees and operating income 1,865 6,197 4,786 11,602
Total noninterest income 48,268 47,244 122,712 163,072
NONINTEREST EXPENSE        
Compensation and employee benefits 93,865 80,744 189,099 165,347
Occupancy and equipment expense 16,707 15,554 33,587 31,194
Deposit insurance premiums and regulatory assessments 5,832 5,779 12,105 11,708
Legal expense 2,837 2,552 5,092 5,614
Data processing 3,327 3,058 6,728 6,005
Consulting expense 5,120 4,769 7,472 6,688
Deposit related expense 2,922 2,505 5,601 4,870
Computer software expense 5,549 5,462 10,603 9,430
Other operating expense 20,779 20,670 38,386 38,755
Amortization of tax credit and other investments 20,481 27,872 37,881 42,232
Total noninterest expense 177,419 168,965 346,554 321,843
INCOME BEFORE INCOME TAXES 196,992 157,685 408,776 385,689
INCOME TAX EXPENSE 24,643 39,355 49,395 97,623
NET INCOME $ 172,349 $ 118,330 $ 359,381 $ 288,066
EARNINGS PER SHARE (“EPS”)        
BASIC (in dollars per share) $ 1.19 $ 0.82 $ 2.48 $ 2.00
DILUTED (in dollars per share) $ 1.18 $ 0.81 $ 2.46 $ 1.98
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING        
BASIC (in shares) 144,899 144,485 144,782 144,368
DILUTED (in shares) 146,091 145,740 146,046 145,774
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40