XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans $ 454,204 $ 386,277 $ 901,917 $ 759,861
Money market investments 22,534 36,392 51,754 58,677
Investment securities 94,241 58,181 175,277 115,390
Total interest income 570,979 480,850 1,128,948 933,928
Interest expense:        
Deposits 78,449 45,228 149,275 83,916
Short-term borrowings 1,656 1,752 3,256 3,765
Long-term debt 14,558 19,734 29,138 39,064
Total interest expense 94,663 66,714 181,669 126,745
Net interest income 476,316 414,136 947,279 807,183
Provision for loan losses 40,191 60,054 82,016 131,117
Net interest income after provision for loan losses 436,125 354,082 865,263 676,066
Mortgage banking activities (1,773) 10,071 8,153 22,139
Net gain (loss), including impairment on equity securities 528 234 1,961 (412)
Net profit (loss) on trading account debt securities 422 21 682 (177)
Adjustments (expense) to indemnity reserves on loans sold 1,840 (527) 1,747 (3,453)
FDIC loss-share expense 0 102,752 0 94,725
Other operating income 23,661 22,280 45,567 38,449
Total non-interest income 138,326 234,809 274,756 348,306
Operating expenses:        
Personnel costs 141,499 124,332 284,616 250,184
Net occupancy expenses 23,299 22,425 46,836 45,227
Equipment expenses 21,323 17,775 41,028 34,981
Other taxes 12,577 10,876 24,239 21,778
Professional fees 95,248 93,903 182,714 176,888
Communications 5,955 5,382 11,804 11,288
Business promotion 19,119 16,778 33,793 28,787
FDIC deposit insurance 5,278 7,004 10,084 13,924
Other real estate owned (O R E O) expenses 1,237 6,947 3,914 13,078
Other operating expenses 35,109 29,922 66,724 58,886
Amortization of intangibles 2,371 2,324 4,683 4,649
Total operating expenses 363,015 337,668 710,435 659,670
Income before income tax 211,436 251,223 429,584 364,702
Income tax expense 40,330 (28,560) 90,553 (6,405)
Net Income 171,106 279,783 339,031 371,107
Net Income Applicable to Common Stock $ 170,175 $ 278,852 $ 337,169 $ 369,245
Net Income per Common Share - Basic $ 1.77 $ 2.74 $ 3.46 $ 3.63
Net Income per Common Share - Diluted $ 1.76 $ 2.73 $ 3.45 $ 3.62
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 39,617 $ 37,102 $ 78,308 $ 73,557
Other services        
Interest expense:        
Revenue from contract with customer 74,031 62,876 138,338 123,478
Non-covered loans        
Interest expense:        
Provision for loan losses 40,191 60,054 82,016 129,387
Covered loans        
Interest expense:        
Provision for loan losses $ 0 $ 0 $ 0 $ 1,730