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Quarterly Financial Information (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

 

 

Year Ended December 31, 2018

 

(in thousands, except per share amounts)

 

1st Quarter

 

 

2nd Quarter

 

 

3rd Quarter

 

 

4th Quarter

 

Operating revenues

 

$

639,077

 

 

$

625,590

 

 

$

617,050

 

 

$

666,791

 

Interest income

 

 

137,734

 

 

 

154,421

 

 

 

169,760

 

 

 

184,534

 

Total revenues

 

 

776,811

 

 

 

780,011

 

 

 

786,810

 

 

 

851,325

 

Interest expense

 

 

26,453

 

 

 

37,279

 

 

 

48,468

 

 

 

57,876

 

Net revenues

 

 

750,358

 

 

 

742,732

 

 

 

738,342

 

 

 

793,449

 

Total non-interest expenses

 

 

630,804

 

 

 

624,385

 

 

 

597,812

 

 

 

637,518

 

Income before income tax expense

 

 

119,554

 

 

 

118,347

 

 

 

140,530

 

 

 

155,931

 

Provision for income taxes

 

 

30,793

 

 

 

31,060

 

 

 

36,672

 

 

 

41,869

 

Net income

 

 

88,761

 

 

 

87,287

 

 

 

103,858

 

 

 

114,062

 

Preferred dividends

 

 

2,344

 

 

 

2,344

 

 

 

2,343

 

 

 

2,344

 

Net income available to common shareholders

 

$

86,417

 

 

$

84,943

 

 

$

101,515

 

 

$

111,718

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.20

 

 

$

1.18

 

 

$

1.41

 

 

$

1.56

 

Diluted

 

$

1.06

 

 

$

1.04

 

 

$

1.25

 

 

$

1.38

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

71,999

 

 

 

71,692

 

 

 

71,919

 

 

 

71,666

 

Diluted

 

 

81,789

 

 

 

81,299

 

 

 

81,484

 

 

 

80,706

 

Cash dividends declared per common share

 

$

0.12

 

 

$

0.12

 

 

$

0.12

 

 

$

0.12

 

 

 

Year Ended December 31, 2017

 

(in thousands, except per share amounts)

 

1st Quarter

 

 

2nd Quarter

 

 

3rd Quarter

 

 

4th Quarter

 

Operating revenues

 

$

590,474

 

 

$

633,340

 

 

$

620,932

 

 

$

697,335

 

Interest income

 

 

100,953

 

 

 

108,951

 

 

 

117,862

 

 

 

126,615

 

Total revenues

 

 

691,427

 

 

 

742,291

 

 

 

738,794

 

 

 

823,950

 

Interest expense

 

 

15,896

 

 

 

16,644

 

 

 

17,625

 

 

 

19,865

 

Net revenues

 

 

675,531

 

 

 

725,647

 

 

 

721,169

 

 

 

804,085

 

Total non-interest expenses

 

 

596,512

 

 

 

642,449

 

 

 

613,030

 

 

 

804,905

 

Income before income tax expense

 

 

79,019

 

 

 

83,198

 

 

 

108,139

 

 

 

(820

)

Provision for income taxes

 

 

13,507

 

 

 

30,387

 

 

 

41,603

 

 

 

1,168

 

Net income

 

 

65,512

 

 

 

52,811

 

 

 

66,536

 

 

 

(1,988

)

Preferred dividends

 

 

2,344

 

 

 

2,344

 

 

 

2,343

 

 

 

2,344

 

Net income available to common shareholders

 

$

63,168

 

 

$

50,467

 

 

$

64,193

 

 

$

(4,332

)

Earnings per common share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.92

 

 

$

0.74

 

 

$

0.94

 

 

$

(0.06

)

Diluted

 

$

0.78

 

 

$

0.63

 

 

$

0.79

 

 

$

(0.06

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

68,386

 

 

 

68,556

 

 

 

68,522

 

 

 

68,782

 

Diluted

 

 

80,695

 

 

 

80,021

 

 

 

80,881

 

 

 

68,782

 

Cash dividends declared per common share

 

$

 

 

$

 

 

$

0.10

 

 

$

0.10

 

 

(1)

Earnings per share for the three months ended December 31, 2017 is calculated using the basic weighted average number of common shares outstanding, not fully dilutive shares, as they are anti-dilutive in periods a loss is incurred.