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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST AND DIVIDEND INCOME    
Loans receivable, including fees $ 411,869 $ 423,534
AFS debt securities 20,142 15,748
Resale agreements 5,565 7,846
Restricted equity securities 446 713
Interest-bearing cash and deposits with banks 11,168 15,470
Total interest and dividend income 449,190 463,311
INTEREST EXPENSE    
Deposits 76,403 92,005
Federal funds purchased and other short-term borrowings 556 616
FHLB advances 4,166 2,979
Repurchase agreements 3,991 3,492
Long-term debt and finance lease liabilities 1,367 1,758
Total interest expense 86,483 100,850
Net interest income before provision for credit losses 362,707 362,461
Provision for credit losses 73,870 22,579
Net interest income after provision for credit losses 288,837 339,882
NONINTEREST INCOME    
Lending fees 15,773 14,969
Deposit account fees 10,447 9,468
Foreign exchange income 7,819 5,015
Wealth management fees 5,357 3,812
Interest rate contracts and other derivative income 7,073 3,216
Net gains on sales of loans 950 915
Net gains on sales of AFS debt securities 1,529 1,561
Other investment income 1,921 1,202
Other income 3,180 1,973
Total noninterest income 54,049 42,131
NONINTEREST EXPENSE    
Compensation and employee benefits 101,960 102,299
Occupancy and equipment expense 17,076 17,318
Deposit insurance premiums and regulatory assessments 3,427 3,088
Legal expense 3,197 2,225
Data processing 3,826 3,157
Consulting expense 1,217 2,059
Deposit related expense 3,563 3,504
Computer software expense 6,166 6,078
Other operating expense 21,119 22,289
Amortization of tax credit and other investments 17,325 24,905
Total noninterest expense 178,876 186,922
INCOME BEFORE INCOME TAXES 164,010 195,091
INCOME TAX EXPENSE 19,186 31,067
NET INCOME $ 144,824 $ 164,024
EARNINGS PER SHARE (“EPS”)    
BASIC (in dollars per share) $ 1.00 $ 1.13
DILUTED (in dollars per share) $ 1.00 $ 1.12
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING    
BASIC (in shares) 144,814 145,256
DILUTED (in shares) 145,285 145,921