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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans $ 429,670 $ 454,204 $ 880,116 $ 901,917
Money market investments 2,015 22,534 14,015 51,754
Investment securities 76,884 94,241 164,796 175,277
Total interest income 508,569 570,979 1,058,927 1,128,948
Interest expense:        
Deposits 42,780 78,449 104,881 149,275
Short-term borrowings 645 1,656 1,693 3,256
Long-term debt 14,263 14,558 28,377 29,138
Total interest expense 57,688 94,663 134,951 181,669
Net interest income 450,881 476,316 923,976 947,279
Provision for credit losses - loan portfolios 63,104 40,191 252,099 82,016
Provision (reversal) for credit losses - Investment securities (655) 0 81 0
Net interest income after provision for credit losses 388,432 436,125 671,796 865,263
Mortgage banking activities 3,777 (1,773) 10,197 8,153
Net gain (loss), including impairment on equity securities 2,447 528 (281) 1,961
Net profit on trading account debt securities 82 422 573 682
Net gain on sale of loans, including valuation adjustments on loans held-for-sale 2,222 0 3,179 0
Adjustments to indemnity reserves on loans sold (1,160) 1,840 (5,953) 1,747
Other operating income 22,440 23,661 42,304 45,567
Total non-interest income 112,055 138,326 238,698 274,756
Operating expenses:        
Personnel costs 139,166 141,499 285,997 284,616
Net occupancy expenses 25,487 23,299 50,645 46,836
Equipment expenses 20,844 21,323 42,449 41,028
Other taxes 13,323 12,577 27,004 24,239
Professional fees 92,547 95,248 193,618 182,714
Communications 5,574 5,955 11,528 11,804
Business promotion 12,281 19,119 26,478 33,793
FDIC deposit insurance 5,340 5,278 10,420 10,084
Other real estate owned (OREO) (income) expenses (344) 1,237 2,135 3,914
Other operating expenses 32,217 35,109 66,296 66,724
Amortization of intangibles 1,796 2,371 4,269 4,683
Total operating expenses 348,231 363,015 720,839 710,435
Income before income tax 152,256 211,436 189,655 429,584
Income tax expense 24,628 40,330 27,725 90,553
Net Income 127,628 171,106 161,930 339,031
Net Income Applicable to Common Stock $ 127,275 $ 170,175 $ 160,877 $ 337,169
Net Income per Common Share - Basic $ 1.49 $ 1.77 $ 1.83 $ 3.46
Net Income per Common Share - Diluted $ 1.49 $ 1.76 $ 1.83 $ 3.45
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 30,163 $ 39,617 $ 71,822 $ 78,308
Other services        
Interest expense:        
Revenue from contract with customer $ 52,084 $ 74,031 $ 116,857 $ 138,338