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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest Income    
Interest and fees on loans $ 313,181 $ 333,068
Interest and dividends on investment securities:    
Taxable 13,166 21,933
Tax-exempt 3,356 3,926
Dividends 1,871 3,401
Interest on federal funds sold and other short-term investments 224 1,465
Total interest income 331,798 363,793
Interest on deposits:    
Savings, NOW and money market 11,125 34,513
Time 11,093 42,814
Interest on short-term borrowings 1,758 4,707
Interest on long-term borrowings and junior subordinated debentures 15,155 16,420
Total interest expense 39,131 98,454
Net Interest Income 292,667 265,339
(Credit) provision for credit losses for held to maturity securities (358) 759
Provision for credit losses for loans 9,014 33,924
Net Interest Income After Provision for Credit Losses 284,011 230,656
Non-Interest Income    
Insurance commissions 1,558 1,951
Losses on securities transactions, net (118) (40)
Fees from loan servicing 2,899 2,748
Gains on sales of loans, net 3,513 4,550
(Losses) gains on sales of assets, net (196) 121
Bank owned life insurance 2,331 3,142
Other 12,814 19,832
Total non-interest income 31,233 41,397
Non-Interest Expense    
Salary and employee benefits expense 88,103 85,728
Net occupancy and equipment expense 32,259 32,441
FDIC insurance assessment 3,276 3,876
Amortization of other intangible assets 6,006 5,470
Professional and legal fees 6,272 6,087
Amortization of tax credit investments 2,744 3,228
Telecommunication expense 3,160 2,287
Other 18,393 16,539
Total non-interest expense 160,213 155,656
Income Before Income Taxes 155,031 116,397
Income tax expense 39,321 29,129
Net Income 115,710 87,268
Dividends on preferred stock 3,172 3,172
Net Income Available to Common Shareholders $ 112,538 $ 84,096
Earnings Per Common Share:    
Basic (usd per share) $ 0.28 $ 0.21
Diluted (usd per share) 0.28 0.21
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11
Weighted Average Number of Common Shares Outstanding:    
Basic (in shares) 405,152,605 403,519,088
Diluted (in shares) 407,636,765 405,424,123
Trust and investment services    
Non-Interest Income    
Revenue from contracts with customer $ 3,329 $ 3,413
Service charges on deposit accounts    
Non-Interest Income    
Revenue from contracts with customer $ 5,103 $ 5,680