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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Loans $ 1,520,021 $ 1,599,165 $ 1,358,480
Investment securities:      
Taxable 634,992 568,851 541,605
Non-taxable 61,055 44,952 34,616
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 25,542 96,440 35,208
Total interest income 2,241,610 2,309,408 1,969,909
Interest expense:      
Deposits 60,219 177,672 29,306
Borrowings 25,107 35,135 46,615
Total interest expense 85,326 212,807 75,921
Net interest income 2,156,284 2,096,601 1,893,988
Provision for credit losses 219,510 106,416 87,870
Net interest income after provision for credit losses 1,936,774 1,990,185 1,806,118
Noninterest income:      
Gains on investment securities, net 420,752 134,670 88,094
Gains on equity warrant assets, net 237,428 138,078 89,142
Client investment fees 132,200 182,068 130,360
Foreign exchange fees 178,733 159,262 138,812
Credit card fees 97,737 118,719 94,072
Deposit service charges 90,336 89,200 76,097
Lending related fees 57,533 49,920 41,949
Letters of credit and standby letters of credit fees 46,659 42,669 34,600
Investment banking revenue 413,985 195,177 0
Commissions 66,640 56,346 0
Other 98,145 55,370 51,858
Noninterest income 1,840,148 1,221,479 744,984
Noninterest expense:      
Compensation and benefits 1,318,457 989,734 726,980
Professional services 247,084 205,479 158,835
Premises and equipment 127,125 96,770 77,918
Net occupancy 100,889 69,279 54,753
Business development and travel 23,724 68,912 48,180
FDIC and state assessments 27,587 18,509 34,276
Other 190,175 152,579 87,251
Total noninterest expense 2,035,041 1,601,262 1,188,193
Income before income tax expense 1,741,881 1,610,402 1,362,909
Income tax expense 447,587 425,685 351,561
Net income before noncontrolling interests 1,294,294 1,184,717 1,011,348
Net income attributable to noncontrolling interests (85,926) (47,861) (37,508)
Preferred stock dividends (17,151) 0 0
Net income available to common stockholders $ 1,191,217 $ 1,136,856 $ 973,840
Earnings per common share—basic (usd per share) $ 23.05 $ 21.90 $ 18.35
Earnings per common share—diluted (usd per share) $ 22.87 $ 21.73 $ 18.11