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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans $ 213,938 $ 249,364 $ 448,297 $ 489,996
Investment securities 50,932 72,796 106,992 149,141
Other 2,908 5,069 6,628 9,921
Total interest income 267,778 327,229 561,917 649,058
Interest expense:        
Deposits 50,187 99,987 133,009 197,408
Borrowings 27,254 36,359 57,995 69,866
Total interest expense 77,441 136,346 191,004 267,274
Net interest income before provision for credit losses 190,337 190,883 370,913 381,784
Provision for credit losses 25,414 (2,747) 150,842 7,534
Net interest income after provision for credit losses 164,923 193,630 220,071 374,250
Non-interest income:        
Deposit service charges and fees 3,701 4,290 7,887 8,120
Gain on sale of loans, net 4,326 2,121 7,792 5,057
Gain on investment securities, net 6,836 4,116 3,383 9,901
Lease financing 16,150 17,005 31,631 34,191
Other non-interest income 7,338 7,805 10,956 14,323
Total non-interest income 38,351 35,337 61,649 71,592
Non-interest expense:        
Employee compensation and benefits 48,877 57,251 107,764 122,484
Occupancy and equipment 11,901 13,991 24,270 27,157
Deposit insurance expense 4,806 5,027 9,209 9,068
Professional fees 3,131 6,937 6,335 14,808
Technology and telecommunications 14,025 12,013 26,621 23,181
Depreciation of operating lease equipment 12,219 11,489 24,822 23,301
Other non-interest expense 11,411 13,377 26,217 26,776
Total non-interest expense 106,370 120,085 225,238 246,775
Income before income taxes 96,904 108,882 56,482 199,067
Provision for income taxes 20,396 27,431 10,925 51,644
Net income $ 76,508 $ 81,451 $ 45,557 $ 147,423
Earnings per common share, basic $ 0.80 $ 0.81 $ 0.47 $ 1.46
Earnings per common share, diluted $ 0.80 $ 0.81 $ 0.47 $ 1.45