XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 259,105 $ 232,195 $ 710,554 $ 691,270
Investment securities 11,039 10,380 30,843 48,525
Securities purchased under resale agreements 5,168 5,530 16,132 14,602
Investment in Federal Home Loan Bank stock 1,395 127 2,945 514
Investment in Federal Reserve Bank stock 723 719 2,164 2,146
Due from banks and short-term investments 4,276 5,211 12,844 17,517
Total interest and dividend income 281,706 254,162 775,482 774,574
INTEREST EXPENSE        
Customer deposit accounts 15,099 18,202 47,691 57,543
Federal funds purchased       2
Federal Home Loan Bank advances 1,049 1,468 3,135 4,963
Securities sold under repurchase agreements 10,323 11,664 31,069 34,977
Long-term debt 985 920 2,402 3,106
Total interest expense 27,456 32,254 84,297 100,591
Net interest income before provision for loan losses 254,250 221,908 691,185 673,983
Provision for loan losses, excluding covered loans 4,535 13,321 12,050 46,395
(Reversal of) provision for loan losses on covered loans (964) 5,179 4,848 5,705
Net interest income after provision for loan losses 250,679 203,408 674,287 621,883
NONINTEREST (LOSS) INCOME        
Impairment loss on investment securities       (5,165)
Less: Noncredit-related impairment loss recorded in other comprehensive income       5,066
Net impairment loss on investment securities recognized in earnings       (99)
Decrease in FDIC indemnification asset and receivable (74,456) (26,757) (154,260) (72,520)
Branch fees 8,123 7,720 23,896 23,204
Net gain on sales of investment securities 1,084 93 12,006 647
Net gain on sale of fixed assets 993 40 1,345 113
Letters of credit fees and commissions 5,615 5,001 16,103 13,814
Foreign exchange income 2,940 2,165 8,925 4,524
Ancillary loan fees 2,125 1,817 6,811 6,013
Income from life insurance policies 952 982 2,820 2,931
Net gain on sales of loans 3,945 5,346 3,685 16,900
Other operating income 7,258 6,344 22,795 17,309
Total noninterest (loss) income (41,421) 2,751 (55,874) 12,836
NONINTEREST EXPENSE        
Compensation and employee benefits 41,482 40,509 129,239 129,781
Occupancy and equipment expense 14,697 14,162 42,211 40,737
Amortization of investments in affordable housing partnerships and other investments 4,693 3,378 14,040 12,269
Amortization of premiums on deposits acquired 2,347 2,734 7,131 8,445
Deposit insurance premiums and regulatory assessments 4,191 3,461 11,848 10,776
Loan related expenses 2,752 4,011 9,909 12,667
Other real estate owned expense (gain on sale) 157 2,683 (2,015) 18,034
Legal expense 9,001 8,213 18,912 19,536
Prepayment penalty for FHLB advances and other borrowings   42   3,699
Data processing 2,159 2,313 6,796 6,974
Deposit related expenses 1,635 1,388 4,725 4,472
Consulting expense 1,264 2,692 2,721 5,727
Other operating expenses 15,974 15,370 45,610 44,210
Total noninterest expense 100,352 100,956 291,127 317,327
INCOME BEFORE PROVISION FOR INCOME TAXES 108,906 105,203 327,286 317,392
PROVISION FOR INCOME TAXES 35,749 34,093 108,023 107,642
NET INCOME 73,157 71,110 219,263 209,750
PREFERRED STOCK DIVIDENDS   1,714 3,428 5,142
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 73,157 $ 69,396 $ 215,835 $ 204,608
EARNINGS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS        
BASIC (in dollars per share) $ 0.53 $ 0.49 $ 1.56 $ 1.42
DILUTED (in dollars per share) $ 0.53 $ 0.48 $ 1.56 $ 1.40
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
BASIC (in shares) 137,036 139,621 137,404 142,348
DILUTED (in shares) 137,467 145,358 140,199 148,051
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.15 $ 0.10 $ 0.45 $ 0.30