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Consolidated Statement of Income - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 1,424,900,000 $ 1,464,382,000 $ 1,717,415,000
AFS debt securities 143,983,000 82,553,000 67,838,000
Resale agreements 32,239,000 21,389,000 28,061,000
Restricted equity securities 2,081,000 1,543,000 2,468,000
Interest-bearing cash and deposits with banks 15,531,000 25,175,000 66,518,000
Total interest and dividend income 1,618,734,000 1,595,042,000 1,882,300,000
INTEREST EXPENSE      
Deposits 69,159,000 184,742,000 375,802,000
Short-term borrowings 42,000 1,504,000 1,763,000
FHLB advances 6,881,000 13,792,000 16,697,000
Repurchase agreements 7,999,000 11,766,000 13,582,000
Long-term debt and finance lease liabilities 3,082,000 6,045,000 6,643,000
Total interest expense 87,163,000 217,849,000 414,487,000
Net interest income before (reversal of) provision for credit losses 1,531,571,000 1,377,193,000 1,467,813,000
(Reversal of) provision for credit losses (35,000,000) 210,653,000 98,685,000
Net interest income after (reversal of) provision for credit losses 1,566,571,000 1,166,540,000 1,369,128,000
NONINTEREST INCOME      
Lending fees 77,704,000 74,842,000 63,670,000
Deposit account fees 71,261,000 48,148,000 38,648,000
Interest rate contracts and other derivative income 22,913,000 31,685,000 39,865,000
Foreign exchange income 48,977,000 22,370,000 26,398,000
Wealth management fees 25,751,000 17,494,000 16,547,000
Net gains on sales of loans 8,909,000 4,501,000 4,035,000
Net gains on sales of AFS debt securities 1,568,000 12,299,000 3,930,000
Other investment income 16,852,000 10,641,000 18,117,000
Other income 11,960,000 13,567,000 11,035,000
Total noninterest income 285,895,000 235,547,000 222,245,000
NONINTEREST EXPENSE      
Compensation and employee benefits 433,728,000 404,071,000 401,700,000
Occupancy and equipment expense 62,996,000 66,489,000 69,730,000
Deposit insurance premiums and regulatory assessments 17,563,000 15,128,000 12,928,000
Deposit account expense 16,152,000 13,530,000 14,175,000
Data processing 16,263,000 16,603,000 13,533,000
Computer software expense 30,600,000 29,033,000 26,471,000
Consulting expense 6,517,000 5,391,000 9,846,000
Legal expense 8,015,000 7,766,000 8,441,000
Other operating expense 81,798,000 79,489,000 92,249,000
Amortization of tax credit and other investments 122,457,000 70,082,000 98,383,000
Repurchase agreements’ extinguishment cost 0 8,740,000 0
Total noninterest expense 796,089,000 716,322,000 747,456,000
INCOME BEFORE INCOME TAXES 1,056,377,000 685,765,000 843,917,000
INCOME TAX EXPENSE 183,396,000 117,968,000 169,882,000
NET INCOME $ 872,981,000 $ 567,797,000 $ 674,035,000
EARNINGS PER SHARE (“EPS”)      
BASIC (in dollars per share) $ 6.16 $ 3.99 $ 4.63
DILUTED (in dollars per share) $ 6.10 $ 3.97 $ 4.61
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 141,826 142,336 145,497
DILUTED (in shares) 143,140 142,991 146,179