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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest income:      
Loans $ 542,204 $ 469,146 $ 389,830
Available-for-sale securities:      
Taxable 180,162 171,863 165,449
Non-taxable 3,201 3,564 3,623
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 4,054 4,145 6,486
Total interest income 729,621 648,718 565,388
Interest expense:      
Deposits 9,128 6,660 8,862
Borrowings 23,149 24,194 30,249
Total interest expense 32,277 30,854 39,111
Net interest income 697,344 617,864 526,277
Provision for loan losses 63,693 44,330 6,101
Net interest income after provision for loan losses 633,651 573,534 520,176
Noninterest income:      
Gains on investment securities, net 419,408 122,114 195,034
Foreign exchange fees 57,411 52,433 45,774
Gains on derivative instruments, net 42,184 18,679 36,798
Deposit service charges 35,948 33,421 31,208
Credit card fees 32,461 24,809 18,741
Lending related fees 20,980 18,038 8,925
Letters of credit and standby letters of credit fees 14,716 15,150 12,201
Client investment fees 13,959 14,539 12,421
Other 36,139 36,363 21,230
Total noninterest income 673,206 335,546 382,332
Noninterest expense:      
Compensation and benefits 366,801 326,942 313,043
Professional services 76,178 67,845 60,807
Premises and equipment 45,935 40,689 28,335
Business development and travel 33,334 29,409 24,250
Net occupancy 24,937 22,536 19,624
FDIC assessments 12,784 10,959 10,298
Correspondent bank fees 12,142 11,168 9,052
Provision for unfunded credit commitments 7,642 488 4,397
Other 41,927 35,962 30,822
Total noninterest expense 621,680 [1] 545,998 [1] 500,628 [1]
Income before income tax expense 685,177 [2] 363,082 [2] 401,880 [2]
Income tax expense 139,058 113,269 119,087
Net income before noncontrolling interests 546,119 249,813 282,793
Net income attributable to noncontrolling interests (330,266) (74,710) (110,891)
Net income available to common stockholders $ 215,853 $ 175,103 $ 171,902
Earnings per common share—basic $ 4.76 $ 3.96 $ 4.00
Earnings per common share—diluted $ 4.70 $ 3.91 $ 3.94
[1] The Global Commercial Bank segment includes direct depreciation and amortization of $21.3 million, $16.3 million and $12.0 million for 2013, 2012 and 2011, respectively.
[2] The internal reporting model used by management to assess segment performance does not calculate income tax expense by segment. Our effective tax rate is a reasonable approximation of the segment rates.