XML 20 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income:      
Loans $ 693,147 $ 610,945 $ 542,204
Investment securities:      
Taxable 344,646 271,371 180,162
Non-taxable 2,905 3,136 3,201
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 6,067 6,464 4,054
Total interest income 1,046,765 891,916 729,621
Interest expense:      
Deposits 5,447 12,114 9,128
Borrowings 34,893 23,207 23,149
Total interest expense 40,340 35,321 32,277
Net interest income 1,006,425 856,595 697,344
Provision for loan losses 97,629 59,486 63,693
Net interest income after provision for loan losses 908,796 797,109 633,651
Noninterest income:      
Reclassification adjustment for (gains) losses included in net income 89,445 [1] 267,023 419,408
Gains on derivative instruments, net 83,805 96,845 42,184
Foreign exchange fees 87,007 71,659 57,411
Credit card fees 56,657 41,792 32,461
Deposit service charges 46,683 39,937 35,948
Lending related fees 32,536 25,711 20,980
Letters of credit and standby letters of credit fees 20,889 15,649 14,716
Client investment fees 21,610 14,883 13,959
Other 34,162 (1,260) 36,139
Total noninterest income 472,794 572,239 673,206
Noninterest expense:      
Compensation and benefits 473,841 409,486 366,801
Professional services 82,839 94,377 76,178
Premises and equipment 51,927 49,716 45,935
Business development and travel 39,524 40,057 33,334
Net occupancy 34,674 30,004 24,937
FDIC assessments 25,455 19,206 12,784
Correspondent bank fees 13,415 13,118 12,142
(Reduction of) Provision for unfunded credit commitments (1,946) 6,511 7,642
Other [2] 58,287 44,705 35,491
Total noninterest expense [2] 778,016 707,180 615,244
Income before income tax expense [2] 603,574 [1] 662,168 691,613
Income tax expense [2] 228,754 183,508 146,830
Net income before noncontrolling interests [2],[3],[4] 374,820 [1] 478,660 [5],[6] 544,783 [5],[6]
Net income attributable to noncontrolling interests [3] (30,916) [1] (214,790) (330,266)
Net income available to common stockholders [2] $ 343,904 [1] $ 263,870 $ 214,517
Earnings per common share—basic, in dollars per share [2] $ 6.70 $ 5.39 $ 4.73
Earnings per common share—diluted, in dollars per share [2] $ 6.62 $ 5.31 $ 4.67
[1] During the second quarter of 2015 we adopted new accounting guidance related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[2] Prior period amounts have been revised to reflect the retrospective application of new accounting guidance adopted in the first quarter of 2015 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[3] During the second quarter of 2015 we adopted new accounting guidance related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[4] Prior period amounts have been revised to reflect the retrospective application of new accounting guidance adopted in the first quarter of 2015 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[5] Cash flows for the years ended December 31, 2014 and 2013 were revised to reflect the retrospective application of our adoption of ASU 2014-01.
[6] See Note 2— "Summary of Significant Accounting Policies-Adoptions of New Accounting Standards” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.