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Consolidated Statement of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
INTEREST AND DIVIDEND INCOME    
Loans receivable, including fees $ 342,008 $ 411,869
AFS debt securities 29,100 20,142
Resale agreements 6,099 5,625
Restricted equity securities 547 446
Interest-bearing cash and deposits with banks 3,632 11,108
Total interest and dividend income 381,386 449,190
INTEREST EXPENSE    
Deposits 21,822 76,403
Short-term borrowings 42 556
FHLB advances 3,069 4,166
Repurchase agreements 1,978 3,991
Long-term debt and finance lease liabilities 780 1,367
Total interest expense 27,691 86,483
Net interest income before provision for credit losses 353,695 362,707
Provision for credit losses 0 73,870
Net interest income after provision for credit losses 353,695 288,837
NONINTEREST INCOME    
Lending fees 18,357 15,773
Deposit account fees 15,383 10,447
Interest rate contracts and other derivative income 16,997 7,073
Foreign exchange income 9,526 7,819
Wealth management fees 6,911 5,353
Net gains on sales of loans 1,781 950
Gains on sales of AFS debt securities 192 1,529
Other investment income 925 3,378
Other income 2,794 3,184
Total noninterest income 72,866 55,506
NONINTEREST EXPENSE    
Compensation and employee benefits 107,808 101,960
Occupancy and equipment expense 15,922 17,076
Deposit insurance premiums and regulatory assessments 3,876 3,427
Deposit account expense 3,892 3,563
Data processing 4,478 3,826
Computer software expense 7,159 6,166
Consulting expense 1,475 1,217
Legal expense 1,502 3,197
Other operating expense 19,607 21,119
Amortization of tax credit and other investments 25,358 18,782
Total noninterest expense 191,077 180,333
INCOME BEFORE INCOME TAXES 235,484 164,010
INCOME TAX EXPENSE 30,490 19,186
NET INCOME $ 204,994 $ 144,824
EARNINGS PER SHARE (“EPS”)    
BASIC (in dollars per share) $ 1.45 $ 1.00
DILUTED (in dollars per share) $ 1.44 $ 1.00
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING    
BASIC (in shares) 141,646 144,814
DILUTED (in shares) 142,844 145,285