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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including fees $ 384,275 $ 463,437 $ 1,213,609 $ 1,368,769
Investment securities available for sale 43,196 53,761 139,784 156,493
Interest and Fee Income, Loans and Leases Held-for-sale 6,341 978 9,047 2,144
Federal Reserve Bank balances 285 2,288 2,187 8,659
Other earning assets 1,453 2,951 6,389 8,320
Total interest income 435,550 523,415 1,371,016 1,544,385
Interest expense:        
Deposits 43,194 94,082 185,670 274,466
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings 176 7,843 7,885 18,599
Long-term debt 15,190 19,393 50,645 54,785
Total interest expense 58,560 121,318 244,200 347,850
Net interest income 376,990 402,097 1,126,816 1,196,535
Provision for credit losses [1] 43,383 27,562 343,956 63,250
Net interest income after provision for credit losses 333,607 374,535 782,860 1,133,285
Non-interest revenue:        
Service charges on deposit accounts 17,813 22,952 54,069 65,805
Fiduciary and asset management fees 15,885 14,686 46,009 42,743
Card fees 10,823 12,297 30,959 34,334
Brokerage revenue 10,604 11,071 32,987 30,502
Mortgage banking income 31,229 10,351 66,987 23,313
Capital markets income 5,690 7,396 22,984 21,557
Income from bank-owned life insurance 7,778 5,139 21,572 15,605
Investment securities (losses) gains, net (1,550) (3,731) 76,594 (5,502)
Other non-interest revenue 16,139 8,599 39,591 29,588
Total non-interest revenue 114,411 88,760 391,752 257,945
Non-interest expense:        
Salaries and other personnel expense 154,994 142,516 464,268 424,952
Net occupancy, equipment, and software expense 41,554 41,017 125,475 119,262
Third-party processing and other services 20,620 18,528 63,466 55,403
Professional fees 13,377 9,719 39,358 25,379
FDIC insurance and other regulatory fees 6,793 7,242 18,922 21,872
Goodwill impairment 44,877 0 44,877 0
Merger-related expense 0 353 0 57,493
Other operating expenses 34,440 56,935 120,710 128,486
Total non-interest expense 316,655 276,310 877,076 832,847
Income before income taxes 131,363 186,985 297,536 558,383
Income tax expense 39,789 51,259 74,250 146,287
Net income 91,574 135,726 223,286 412,096
Less: Preferred stock dividends 8,291 8,291 24,872 14,591
Net income available to common shareholders $ 83,283 $ 127,435 $ 198,414 $ 397,505
Net income per common share, basic (in dollars per share) $ 0.57 $ 0.84 $ 1.35 $ 2.53
Net income per common share, diluted (in dollars per share) $ 0.56 $ 0.83 $ 1.34 $ 2.51
Weighted average common shares outstanding, basic (in shares) 147,314 152,238 147,304 156,819
Weighted average common shares outstanding, diluted (in shares) 147,976 154,043 148,037 158,595
[1] Beginning January 1, 2020, provision calculation is based on current expected credit loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.