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Interim Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans $ 394,246 $ 352,353 $ 1,202,467 $ 979,724
Investment securities:        
Taxable 149,656 142,075 410,768 403,702
Non-taxable 11,123 10,748 32,991 23,506
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 28,867 8,137 74,447 20,080
Total interest income 583,892 513,313 1,720,673 1,427,012
Interest expense:        
Deposits 55,106 8,042 130,163 18,409
Borrowings 8,142 12,049 27,577 29,075
Total interest expense 63,248 20,091 157,740 47,484
Net interest income 520,644 493,222 1,562,933 1,379,528
Provision for credit losses 36,536 17,174 89,033 74,226
Net interest income after provision for credit losses 484,108 476,048 1,473,900 1,305,302
Noninterest income:        
Gains on investment securities, net 29,849 32,193 106,575 77,365
Gains on equity warrant assets, net 37,561 34,141 107,213 72,393
Client investment fees 46,679 36,265 136,905 88,592
Foreign exchange fees 40,309 32,656 116,863 100,560
Credit card fees 30,158 24,121 86,431 68,739
Deposit service charges 22,482 19,588 65,496 56,081
Lending related fees 11,707 10,675 36,857 30,938
Letters of credit and standby letters of credit fees 10,842 8,409 31,205 24,938
Investment banking revenue 38,516 0 137,005 0
Commissions 12,275 0 40,812 0
Other 13,631 12,022 42,773 38,671
Total noninterest income 294,009 210,070 908,135 558,277
Noninterest expense:        
Compensation and benefits 233,840 195,437 715,073 543,198
Professional services 55,202 36,542 133,018 112,080
Premises and equipment 26,775 19,858 72,386 57,576
Net occupancy 16,981 13,694 49,716 40,598
Business development and travel 19,539 12,712 51,915 35,998
FDIC and state assessments 4,881 9,550 13,343 29,306
Other 34,106 21,652 105,059 61,845
Total noninterest expense 391,324 309,445 1,140,510 880,601
Income before income tax expense 386,793 376,673 1,241,525 982,978
Income tax expense 105,075 95,308 331,624 246,561
Net income before noncontrolling interests 281,718 281,365 909,901 736,417
Net income attributable to noncontrolling interests (14,437) (6,548) (35,901) (28,841)
Net income available to common stockholders $ 267,281 $ 274,817 $ 874,000 $ 707,576
Earnings per common share—basic (dollars per share) $ 5.19 $ 5.16 $ 16.80 $ 13.33
Earnings per common share—diluted (dollars per share) $ 5.15 $ 5.10 $ 16.67 $ 13.15