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CONSOLIDATED STATEMENTS OF INCOME - 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        
Interest and fees on loans and leases $ 557,195 $ 356,371 $ 1,189,707 $ 1,040,421
Interest and fees on loans held for sale 8,284 6,069 21,779 24,074
Taxable 24,113 28,418 75,846 90,935
Tax-exempt 1,421 352 2,421 925
Interest on trading securities 6,177 10,512 28,017 37,214
Interest on other earning assets 1,021 5,772 5,433 26,629
Total interest income 598,211 407,494 1,323,203 1,220,198
Interest expense        
Interest on deposits 42,293 78,591 121,527 239,803
Interest on trading liabilities 699 2,943 4,965 9,515
Interest on short-term borrowings 1,259 11,532 12,578 29,314
Interest on term borrowings 21,595 13,752 43,622 42,772
Total interest expense 65,846 106,818 182,692 321,404
Net interest income 532,365 300,676 1,140,511 898,794
Provision for credit losses 227,000 14,366 502,388 36,273
Net interest income after provision for credit losses 305,365 286,310 638,123 862,521
Noninterest income        
Fixed income 110,943 77,645 318,999 197,808
Deposit transactions and cash management 42,056 34,379 103,133 98,374
Mortgage banking and title income 65,503 2,019 72,072 6,477
Brokerage, management fees and commissions 17,891 14,157 47,096 40,910
Trust services and investment management 11,741 7,163 26,669 22,077
Bankcard income 10,457 7,017 24,362 20,324
Securities gains (losses), net (1,170) 97 (2,638) 177
Purchase accounting gain 532,150 0 532,150 0
Other income 33,352 29,258 82,105 84,626
Total noninterest income 822,923 171,735 1,203,948 470,773
Noninterest expense        
Personnel expense 329,439 167,022 713,168 516,590
Net occupancy expense 39,098 18,887 80,106 60,299
Legal and professional fees 43,236 19,764 64,863 52,671
Computer software 25,512 15,191 58,061 45,331
Operations services 15,634 11,634 38,980 34,835
Contributions 39,339 167 39,811 408
Equipment expense 12,022 8,197 28,958 25,401
Amortization of intangible assets 14,629 6,206 25,221 18,628
Other expense 68,131 61,238 160,971 150,720
Total noninterest expense 587,040 308,306 1,210,139 904,883
Income before income taxes 541,248 149,739 631,932 428,411
Provision for income taxes 2,210 35,796 19,757 97,321
Net income 539,038 113,943 612,175 331,090
Net income attributable to noncontrolling interest 2,977 2,883 8,680 8,555
Net income attributable to controlling interest 536,061 111,060 603,495 322,535
Preferred stock dividends 12,722 1,550 15,822 4,650
Net income available to common shareholders $ 523,339 $ 109,510 $ 587,673 $ 317,885
Basic earnings per share (in dollars per share) $ 0.95 $ 0.35 $ 1.50 $ 1.01
Diluted earnings per share (in dollars per share) $ 0.95 $ 0.35 $ 1.50 $ 1.00
Weighted average common shares (in shares) 549,690 311,888 391,699 314,442
Diluted average common shares (in shares) 550,846 313,805 392,713 316,401