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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 356,371 $ 331,000 $ 1,040,421 $ 954,467
Interest on investment securities available-for-sale 28,770 32,391 91,860 97,872
Interest on investment securities held-to-maturity 131 131 394 394
Interest on loans held-for-sale 6,069 9,977 24,074 33,349
Interest on trading securities 10,512 14,130 37,214 43,280
Interest on other earning assets 5,641 6,040 26,235 15,473
Total interest income 407,494 393,669 1,220,198 1,144,835
Interest on deposits:        
Savings 37,243 30,022 113,963 70,522
Time deposits 22,147 14,667 64,840 35,428
Other interest-bearing deposits 19,201 14,401 61,000 36,922
Interest on trading liabilities 2,943 5,125 9,515 15,039
Interest on short-term borrowings 11,532 9,762 29,314 29,914
Interest on term borrowings 13,752 13,992 42,772 39,205
Total interest expense 106,818 87,969 321,404 227,030
Net interest income 300,676 305,700 898,794 917,805
Provision/(provision credit) for loan losses 15,000 2,000 37,000 1,000
Net interest income after provision/(provision credit) for loan losses 285,676 303,700 861,794 916,805
Noninterest income:        
Fixed income 77,645 44,813 197,808 128,016
Deposit transactions and cash management 34,379 35,792 98,374 107,859
Brokerage, management fees and commissions 14,157 14,200 40,910 41,423
Trust services and investment management 7,163 7,438 22,077 22,847
Bankcard income 7,017 7,744 20,324 21,734
Bank-owned life insurance (BOLI) 4,427 4,337 13,955 14,103
Debt securities gains/(losses), net (Note 3 and Note 9) 0 0 (267) 52
Equity securities gains/(losses), net (Note 3) 97 212,859 444 212,924
All other income and commissions (Note 8) 26,850 21,789 77,148 63,556
Total noninterest income 171,735 348,972 470,773 612,514
Adjusted gross income after provision/(provision credit) for loan losses 457,411 652,672 1,332,567 1,529,319
Noninterest expense:        
Employee compensation, incentives, and benefits 167,022 164,839 516,590 501,983
Occupancy 18,887 20,002 60,299 62,956
Computer software 15,191 15,693 45,331 45,948
Professional fees 14,910 9,270 38,500 36,957
Operations services 11,634 13,121 34,835 43,335
Equipment rentals, depreciation, and maintenance 8,197 9,423 25,401 30,149
Advertising and public relations 6,646 8,365 19,462 17,034
Amortization of intangible assets 6,206 6,460 18,628 19,394
Communications and courier 5,650 7,014 19,483 22,776
FDIC premium expense 5,564 7,850 14,084 26,442
Legal fees 4,854 2,541 14,171 7,670
Contract employment and outsourcing 3,256 4,314 9,705 14,274
Repurchase and foreclosure provision/(provision credit) (22) (562) (1,007) (886)
All other expense (Note 8) 39,677 25,701 88,674 112,032
Total noninterest expense 307,672 294,031 904,156 940,064
Income/(loss) before income taxes 149,739 358,641 428,411 589,255
Provision/(benefit) for income taxes 35,796 83,925 97,321 133,553
Net income/(loss) 113,943 274,716 331,090 455,702
Net income attributable to noncontrolling interest 2,883 2,883 8,555 8,555
Net income/(loss) attributable to controlling interest 111,060 271,833 322,535 447,147
Preferred stock dividends 1,550 1,550 4,650 4,650
Net income/(loss) available to common shareholders $ 109,510 $ 270,283 $ 317,885 $ 442,497
Basic earnings/(loss) per share (Note 10) (in dollars per share) $ 0.35 $ 0.83 $ 1.01 $ 1.36
Diluted earnings/(loss) per share (Note 10) (in dollars per share) $ 0.35 $ 0.83 $ 1.00 $ 1.35
Weighted average common shares (Note 10) (in shares) 311,888 324,406 314,442 325,341
Diluted average common shares (Note 10) (in shares) 313,805 327,252 316,401 328,645
Cash dividends declared per common share (in dollars per share) $ 0.14 $ 0.12 $ 0.42 $ 0.36