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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income:      
Interest and fees on loans $ 1,394,442 $ 1,286,470 $ 816,806
Interest on investment securities available-for-sale 120,558 130,376 105,019
Interest on investment securities held-to-maturity 525 525 591
Interest on loans held-for-sale 31,127 45,108 17,517
Interest on trading securities 46,576 58,684 34,991
Interest on other earning assets 31,112 24,858 15,006
Total interest income 1,624,340 1,546,021 989,930
Interest on deposits:      
Savings 144,350 107,748 42,519
Time deposits 84,027 53,096 13,111
Other interest-bearing deposits 78,839 55,707 24,481
Interest on trading liabilities 12,502 19,359 15,468
Interest on short-term borrowings 41,172 36,747 16,000
Interest on term borrowings 53,263 53,047 36,037
Total interest expense 414,153 325,704 147,616
Net interest income 1,210,187 1,220,317 842,314
Provision/(provision credit) for loan losses 47,000 7,000 0
Net interest income after provision/(provision credit) for loan losses 1,163,187 1,213,317 842,314
Noninterest income:      
Fixed income 278,789 167,882 216,625
Deposit transactions and cash management 131,663 133,281 110,592
Brokerage, management fees and commissions 55,467 54,803 48,514
Trust services and investment management 29,511 29,806 28,420
Bankcard income 28,308 29,304 26,435
Bank-owned life insurance (BOLI) 19,210 18,955 15,124
Debt securities gains/(losses), net (Note 3 and Note 14) (267) 52 483
Equity securities gains/(losses), net (Note 3) 441 212,896 109
All other income and commissions (Note 13) 110,958 75,809 43,917
Total noninterest income 654,080 722,788 490,219
Adjusted gross income after provision/(provision credit) for loan losses 1,817,267 1,936,105 1,332,533
Noninterest expense:      
Employee compensation, incentives, and benefits 695,351 658,223 587,465
Occupancy 80,271 85,009 54,646
Computer software 60,721 60,604 48,234
Professional fees 55,218 45,799 47,929
Operations services 46,006 56,280 43,823
Advertising and public relations 34,359 24,752 19,214
Equipment rentals, depreciation, and maintenance 33,998 39,132 29,543
Communications and courier 25,080 30,032 17,624
Amortization of intangible assets 24,834 25,855 8,728
FDIC premium expense 19,890 31,642 26,818
Legal fees 16,880 11,149 12,076
Contract employment and outsourcing 12,865 18,522 14,954
All other expense (Note 13) 126,130 134,997 112,607
Total noninterest expense 1,231,603 1,221,996 1,023,661
Income/(loss) before income taxes 585,664 714,109 308,872
Provision/(benefit) for income taxes (Note 15) 133,291 157,602 131,892
Net income/(loss) 452,373 556,507 176,980
Net income attributable to noncontrolling interest 11,465 11,465 11,465
Net income/(loss) attributable to controlling interest 440,908 545,042 165,515
Preferred stock dividends 6,200 6,200 6,200
Net income/(loss) available to common shareholders $ 434,708 $ 538,842 $ 159,315
Basic earnings/(loss) per share (Note 16) (in dollars per share) $ 1.39 $ 1.66 $ 0.66
Diluted earnings/(loss) per share (Note 16) (in dollars per share) $ 1.38 $ 1.65 $ 0.65
Weighted average common shares (in shares) 313,637 324,375 241,436
Diluted average common shares (in shares) 315,657 327,445 244,453
Cash dividends declared per common share (in dollars per share) $ 0.56 $ 0.48 $ 0.36