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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest income:      
Loans $ 1,025,788 $ 834,155 $ 693,147
Investment securities:      
Taxable 412,133 346,937 344,646
Non-taxable 5,714 2,234 2,905
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 21,505 10,070 6,067
Total interest income 1,465,140 1,193,396 1,046,765
Interest expense:      
Deposits 8,676 5,611 5,447
Borrowings 36,095 37,262 34,893
Total interest expense 44,771 42,873 40,340
Net interest income 1,420,369 1,150,523 1,006,425
Provision for loan losses 85,939 95,697 97,629
Provision for Loan and Lease Losses 92,304 106,679 [1] 95,683 [1]
Net interest income after provision for loan losses 1,328,065 1,043,844 910,742
Noninterest income:      
Gains on investment securities, net 64,603 51,740 89,445
Gains on derivative instruments, net 54,555 37,892 70,963
Foreign exchange fees 115,760 104,183 87,007
Credit card fees 76,543 68,205 56,657
Deposit service charges 58,715 52,524 46,683
Fees and Commissions 43,265 33,395 32,536
Letters of credit and standby letters of credit fees 28,544 25,644 20,889
Asset Management Fees 56,136 32,219 21,610
Other 59,110 50,750 47,004
Noninterest Income 557,231 456,552 472,794
Noninterest expense:      
Compensation and benefits 606,402 514,270 473,841
Professional services 121,935 94,982 82,839
Premises and equipment 71,753 65,502 51,927
Business development and travel 41,978 40,130 39,524
Net occupancy 48,397 39,928 34,674
FDIC assessments 35,069 30,285 25,455
Correspondent bank fees 12,976 12,457 13,415
Other 72,145 62,243 58,287
Total noninterest expense 1,010,655 859,797 [1] 779,962 [1]
Income before income tax expense 874,641 640,599 603,574
Income tax expense 355,463 [2] 250,333 228,754
Net income before noncontrolling interests 519,178 390,266 374,820
Net income attributable to noncontrolling interests (28,672) (7,581) (30,916)
Net income available to common stockholders $ 490,506 [2] $ 382,685 $ 343,904
Earnings per common share—basic, in dollars per share $ 9.33 [2] $ 7.37 $ 6.70
Earnings per common share—diluted, in dollars per share $ 9.20 [2] $ 7.31 $ 6.62
[1] Our consolidated statements of income for the years ended December 31, 2016 and 2015 were modified from prior periods’ presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported separately as a component of noninterest expense.
[2] Included in income tax expense, net income available to common stockholders, earnings per common share-basic and earnings for common share-diluted, for the year ended December 31, 2017, are tax benefits recognized associated with the adoption of Accounting Standards Update ("ASU") 2016-09, Improvements to Employee Share-Based Payment Accounting in the first quarter of 2017. This guidance was adopted on a prospective basis with no change to prior period amounts.