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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans $ 453,315 $ 430,637 $ 1,355,232 $ 1,190,498
Money market investments 19,119 27,581 70,873 86,258
Investment securities 99,542 70,147 274,819 185,537
Total interest income 571,976 528,365 1,700,924 1,462,293
Interest expense:        
Deposits 78,760 55,134 228,035 139,050
Short-term borrowings 1,572 1,622 4,828 5,387
Long-term debt 14,653 20,140 43,791 59,204
Total interest expense 94,985 76,896 276,654 203,641
Net interest income 476,991 451,469 1,424,270 1,258,652
Provision for loan losses 36,539 54,387 118,555 185,504
Net interest income after provision for loan losses 440,452 397,082 1,305,715 1,073,148
Mortgage banking activities 10,492 11,269 18,645 33,408
Net loss on sale of debt securities (20) 0 (20) 0
Net gain (loss), including impairment on equity securities 213 370 2,174 (42)
Net profit (loss) on trading account debt securities 295 (122) 977 (299)
Adjustments (expense) to indemnity reserves on loans sold (3,411) (3,029) (1,664) (6,482)
FDIC loss-share expense 0 0 0 94,725
Other operating income 22,865 40,070 68,432 78,519
Total non-interest income 142,712 151,021 417,468 499,327
Operating expenses:        
Personnel costs 147,682 139,757 432,298 389,941
Net occupancy expenses 24,595 18,602 71,431 63,829
Equipment expenses 21,596 18,303 62,624 53,284
Other taxes 14,028 11,923 38,267 33,701
Professional fees 98,561 83,860 281,275 260,748
Communications 5,881 6,054 17,685 17,342
Business promotion 18,365 15,478 52,158 44,265
FDIC deposit insurance 2,923 8,610 13,007 22,534
Other real estate owned (O R E O) expenses (185) 7,950 3,729 21,028
Other operating expenses 40,630 52,576 107,354 111,462
Amortization of intangibles 2,399 2,324 7,082 6,973
Total operating expenses 376,475 365,437 1,086,910 1,025,107
Income before income tax 206,689 182,666 636,273 547,368
Income tax expense (benefit) 41,370 42,018 131,923 35,613
Net Income 165,319 140,648 504,350 511,755
Net Income Applicable to Common Stock $ 164,389 $ 139,718 $ 501,558 $ 508,963
Net Income per Common Share - Basic $ 1.71 $ 1.38 $ 5.17 $ 5.01
Net Income per Common Share - Diluted $ 1.70 $ 1.38 $ 5.16 $ 5.00
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 40,969 $ 38,147 $ 119,277 $ 111,704
Other services        
Interest expense:        
Revenue from contract with customer 71,309 64,316 209,647 187,794
Non-covered loans        
Interest expense:        
Provision for loan losses 36,539 54,387 118,555 183,774
Covered loans        
Interest expense:        
Provision for loan losses $ 0 $ 0 $ 0 $ 1,730