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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Interest and fees on loans $ 315,314 $ 321,883 $ 628,495 $ 654,951
Interest and dividends on investment securities:        
Taxable 12,716 19,447 25,882 41,380
Tax-exempt 3,216 3,692 6,572 7,618
Dividends 2,167 3,092 4,038 6,493
Interest on federal funds sold and other short-term investments 235 411 459 1,876
Total interest income 333,648 348,525 665,446 712,318
Interest on deposits:        
Savings, NOW and money market 11,166 16,627 22,291 51,140
Time 6,279 29,857 17,372 72,671
Interest on short-term borrowings 1,168 1,980 2,926 6,687
Interest on long-term borrowings and junior subordinated debentures 14,128 17,502 29,283 33,922
Total interest expense 32,741 65,966 71,872 164,420
Net Interest Income 300,907 282,559 593,574 547,898
(Credit) provision for credit losses for held to maturity securities (30) 41 (388) 800
Provision for credit losses for loans 8,777 41,115 17,791 75,039
Net Interest Income After Provision for Credit Losses 292,160 241,403 576,171 472,059
Non-Interest Income        
Insurance commissions 2,637 1,659 4,195 3,610
Gains (losses) on securities transactions, net 375 (41) 476 (81)
Fees from loan servicing 3,187 2,227 6,086 4,975
Gains on sales of loans, net 10,061 8,337 13,574 12,887
Gains (losses) on sales of assets, net 232 (299) 36 (178)
Bank owned life insurance 2,475 5,823 4,806 8,965
Other 15,544 20,741 28,139 40,573
Total non-interest income 43,126 44,830 74,359 86,227
Non-Interest Expense        
Salary and employee benefits expense 91,095 78,532 179,198 164,260
Net occupancy and equipment expense 32,451 33,217 64,710 65,658
FDIC insurance assessment 3,374 6,135 6,650 10,011
Amortization of other intangible assets 5,449 6,681 11,455 12,151
Professional and legal fees 7,486 7,797 13,758 13,884
Loss on extinguishment of debt 8,406 0 8,406 0
Amortization of tax credit investments 2,972 3,416 5,716 6,644
Telecommunication expense 2,732 2,866 5,892 5,153
Other 17,928 18,522 36,321 35,061
Total non-interest expense 171,893 157,166 332,106 312,822
Income Before Income Taxes 163,393 129,067 318,424 245,464
Income tax expense 42,881 33,466 82,202 62,595
Net Income 120,512 95,601 236,222 182,869
Dividends on preferred stock 3,172 3,172 6,344 6,344
Net Income Available to Common Shareholders $ 117,340 $ 92,429 $ 229,878 $ 176,525
Earnings Per Common Share:        
Basic (usd per share) $ 0.29 $ 0.23 $ 0.57 $ 0.44
Diluted (usd per share) 0.29 0.23 0.56 0.44
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.22 $ 0.22
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 405,963,209 403,790,242 405,560,146 403,654,665
Diluted (in shares) 408,660,778 404,631,845 408,152,458 405,043,183
Trust and investment services        
Non-Interest Income        
Revenue from contracts with customer $ 3,532 $ 2,826 $ 6,861 $ 6,239
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 5,083 $ 3,557 $ 10,186 $ 9,237