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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest and fees on loans $ 305,913 $ 352,112 $ 632,512 $ 684,050
Interest on investment securities available-for-sale 24,977 31,247 52,733 63,090
Interest on investment securities held-to-maturity 132 132 263 263
Interest on loans held-for-sale 6,596 8,128 13,495 18,005
Interest on trading securities 8,723 13,154 21,840 26,702
Interest on other earning assets 283 7,316 4,149 20,594
Total interest income 346,624 412,089 724,992 812,704
Interest on deposits:        
Savings 12,520 36,806 38,853 76,720
Time deposits 9,259 22,439 23,202 42,693
Other interest-bearing deposits 2,966 19,757 17,179 41,799
Interest on trading liabilities 974 3,756 4,266 6,572
Interest on short-term borrowings 1,455 11,038 11,319 17,782
Interest on term borrowings 14,106 14,683 22,027 29,020
Total interest expense 41,280 108,479 116,846 214,586
Net interest income 305,344 303,610 608,146 598,118
Provision/(provision credit) for loan losses 110,000 13,000 255,000 22,000
Net interest income after provision/(provision credit) for loan losses 195,344 290,610 353,146 576,118
Noninterest income:        
Fixed income 112,421 66,414 208,056 120,163
Deposit transactions and cash management 30,787 32,374 61,077 63,995
Brokerage, management fees and commissions 13,800 14,120 29,205 26,753
Trust services and investment management 7,733 7,888 14,928 14,914
Bankcard income 6,652 6,355 13,905 13,307
Bank-owned life insurance (BOLI) 6,380 5,126 10,969 9,528
Debt securities gains/(losses), net (Note 3 and Note 8) 0 (267) 0 (267)
Equity securities gains/(losses), net (Note 3) (1,493) 316 (1,468) 347
All other income and commissions (Note 7) 29,989 25,667 44,353 50,298
Total noninterest income 206,269 157,993 381,025 299,038
Adjusted gross income after provision/(provision credit) for loan losses 401,613 448,603 734,171 875,156
Noninterest expense:        
Employee compensation, incentives, and benefits 200,259 171,643 383,729 349,568
Occupancy 21,445 20,719 41,008 41,412
Computer software 16,522 15,001 32,549 30,140
Operations services 11,654 11,713 23,346 23,201
Professional fees 10,310 11,291 17,306 23,590
Equipment rentals, depreciation, and maintenance 8,384 8,375 16,936 17,204
FDIC premium expense 6,432 4,247 13,174 8,520
Communications and courier 5,868 7,380 11,396 13,833
Amortization of intangible assets 5,284 6,206 10,592 12,422
Contract employment and outsourcing 5,236 3,078 10,172 6,449
Advertising and public relations 2,525 5,574 9,981 12,816
Legal fees 2,498 6,486 4,321 9,317
All other expense (Note 7) 35,751 28,681 68,977 48,012
Total noninterest expense 332,168 300,394 643,487 596,484
Income/(loss) before income taxes 69,445 148,209 90,684 278,672
Provision/(benefit) for income taxes 12,780 34,467 17,547 61,525
Net income/(loss) 56,665 113,742 73,137 217,147
Net income attributable to noncontrolling interest 2,851 2,852 5,703 5,672
Net income/(loss) attributable to controlling interest 53,814 110,890 67,434 211,475
Preferred stock dividends 1,550 1,550 3,100 3,100
Net income/(loss) available to common shareholders $ 52,264 $ 109,340 $ 64,334 $ 208,375
Basic earnings/(loss) per share (Note 9) (in dollars per share) $ 0.17 $ 0.35 $ 0.21 $ 0.66
Diluted earnings/(loss) per share (Note 9) (in dollars per share) $ 0.17 $ 0.35 $ 0.21 $ 0.66
Weighted average common shares (Note 9) (in shares) 312,090 314,063 311,843 315,740
Diluted average common shares (Note 9) (in shares) 312,936 315,786 312,792 317,720