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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ 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 $ 298,384 $ 265,870 $ 883,595 $ 751,146
Interest and dividends on investment securities:        
Taxable 21,801 21,362 67,166 64,907
Tax-exempt 4,219 5,023 13,379 16,383
Dividends 3,171 3,981 9,140 9,648
Interest on federal funds sold and other short-term investments 1,686 805 3,947 2,570
Total interest income 329,261 297,041 977,227 844,654
Interest on deposits:        
Savings, NOW and money market 35,944 28,775 110,247 75,848
Time 42,848 20,109 121,350 51,360
Interest on short-term borrowings 12,953 15,193 40,362 31,838
Interest on long-term borrowings and junior subordinated debentures 16,891 16,164 45,761 50,458
Total interest expense 108,636 80,241 317,720 209,504
Net Interest Income 220,625 216,800 659,507 635,150
Provision for credit losses 8,700 6,552 18,800 24,642
Net Interest Income After Provision for Credit Losses 211,925 210,248 640,707 610,508
Non-Interest Income        
Insurance commissions 2,748 3,646 7,922 11,493
Losses on securities transactions, net (93) (79) (114) (880)
Other-than-temporary impairment losses on securities 0 0 (2,928) 0
Portion recognized in other comprehensive income (before taxes) 0 0 0 0
Net impairment losses on securities recognized in earnings 0 0 (2,928) 0
Fees from loan servicing 2,463 2,573 7,260 6,841
Gains on sales of loans, net 5,194 3,748 13,700 18,143
(Losses) gains on sales of assets, net (159) (1,899) 76,997 (2,121)
Bank owned life insurance 2,687 2,545 6,779 6,960
Other 19,110 8,764 39,880 28,758
Total non-interest income 41,150 29,038 176,426 99,358
Non-Interest Expense        
Salary and employee benefits expense 77,271 80,778 236,559 253,014
Net occupancy and equipment expense 29,203 26,295 86,789 81,120
FDIC insurance assessment 5,098 7,421 16,150 20,963
Amortization of other intangible assets 4,694 4,697 13,175 13,607
Professional and legal fees 5,870 6,638 15,286 29,022
Amortization of tax credit investments 4,385 5,412 16,421 15,156
Telecommunication expense 2,698 3,327 7,317 9,936
Other 16,658 17,113 43,712 52,531
Total non-interest expense 145,877 151,681 435,409 475,349
Income Before Income Taxes 107,198 87,605 381,724 234,517
Income tax expense 25,307 18,046 110,035 50,191
Net Income 81,891 69,559 271,689 184,326
Dividends on preferred stock 3,172 3,172 9,516 9,516
Net Income Available to Common Shareholders $ 78,719 $ 66,387 $ 262,173 $ 174,810
Earnings Per Common Share:        
Basic (usd per share) $ 0.24 $ 0.20 $ 0.79 $ 0.53
Diluted (usd per share) 0.24 0.20 0.79 0.53
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.33 $ 0.33
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 331,797,982 331,486,500 331,716,652 331,180,213
Diluted (in shares) 333,405,196 333,000,242 333,039,436 332,694,080
Trust and investment services        
Non-Interest Income        
Revenue from contracts with customer $ 3,296 $ 3,143 $ 9,296 $ 9,635
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 5,904 $ 6,597 $ 17,634 $ 20,529