XML 117 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 945,530 $ 945,798 $ 998,589
Investment securities 58,184 89,469 70,052
Securities purchased under resale agreements 20,392 19,216 14,208
Investment in Federal Home Loan Bank stock 1,808 550 597
Investment in Federal Reserve Bank stock 2,865 2,840 2,751
Short-term investments 22,316 22,575 9,634
Total interest and dividend income 1,051,095 1,080,448 1,095,831
INTEREST EXPENSE      
Customer deposit accounts 75,895 107,110 116,737
Federal Home Loan Bank advances 6,248 15,461 26,641
Securities sold under repurchase agreements 46,166 48,561 48,993
Long-term debt 3,855 5,832 6,420
Other borrowings 4 458 2,326
Total interest expense 132,168 177,422 201,117
Net interest income before provision for loan losses 918,927 903,026 894,714
Provision for loan losses, excluding covered loans 60,168 92,584 195,934
Provision for loan losses on covered loans 5,016 2,422 4,225
Net interest income after provision for loan losses 853,743 808,020 694,555
NONINTEREST (LOSS) INCOME      
Gain on acquisition     22,874
Impairment loss on investment securities (5,165) (5,736) (32,127)
Less: Noncredit-related impairment loss recorded in other comprehensive income 5,066 5,103 15,458
Net impairment loss on investment securities recognized in earnings (99) (633) (16,669)
Decrease in FDIC indemnification asset and receivable (122,251) (100,141) (83,213)
Branch fees 33,604 33,776 32,634
Net gain on sales of investment securities 757 9,703 31,237
Letters of credit fees and commissions 19,104 13,997 11,816
Foreign exchange income 7,166 9,143 3,171
Ancillary loan fees 8,831 8,350 8,526
Income from life insurance policies 4,015 4,031 4,083
Net gain on sales of loans 17,045 20,185 18,515
Net gain (loss) on sale of fixed assets 4,275 2,274 (189)
Other operating income 21,935 10,239 6,485
Total noninterest (loss) income (5,618) 10,924 39,270
NONINTEREST EXPENSE      
Compensation and employee benefits 171,374 160,093 170,052
Occupancy and equipment expense 55,475 50,082 52,073
Amortization of investments in affordable housing partnerships and other investments 18,058 17,324 10,032
Amortization of premiums on deposits acquired 10,906 12,327 13,283
Deposit insurance premiums and regulatory assessments 14,130 20,531 25,201
Loan related expenses 14,987 19,379 21,070
Other real estate owned expense 22,349 40,435 61,568
Legal expense 25,441 21,327 19,577
Prepayment penalty for FHLB advances and other borrowings 6,860 12,281 13,832
Data processing 9,231 8,598 10,615
Deposit-related expenses 6,007 5,699 4,750
Consulting expense 7,984 7,151 7,984
Other operating expenses 59,731 60,383 67,879
Total noninterest expense 422,533 435,610 477,916
INCOME BEFORE PROVISION FOR INCOME TAXES 425,592 383,334 255,909
PROVISION FOR INCOME TAXES 143,942 138,100 91,345
NET INCOME 281,650 245,234 164,564
PREFERRED STOCK DIVIDENDS AMORTIZATION OF PREFERRED STOCK DISCOUNT 6,857 6,857 43,126
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 274,793 $ 238,377 $ 121,438
EARNINGS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS      
BASIC (in dollars per share) $ 1.92 $ 1.62 $ 0.88
DILUTED (in dollars per share) $ 1.89 $ 1.60 $ 0.83
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 141,457 147,093 137,478
DILUTED (in shares) 147,175 153,467 147,102
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.4 $ 0.16 $ 0.04