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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans $ 433,781 $ 429,670 $ 868,430 $ 880,116
Money market investments 4,274 2,015 7,386 14,015
Investment securities 91,706 76,884 177,396 164,796
Total interest income 529,761 508,569 1,053,212 1,058,927
Interest expense:        
Deposits 28,060 42,780 58,261 104,881
Short-term borrowings 62 645 205 1,693
Long-term debt 13,837 14,263 27,832 28,377
Total interest expense 41,959 57,688 86,298 134,951
Net interest income 487,802 450,881 966,914 923,976
Provision for credit losses (benefit) (17,015) 62,449 (99,241) 252,180
Net interest income after provision for credit losses (benefit) 504,817 388,432 1,066,155 671,796
Mortgage banking activities 7,448 3,777 24,791 10,197
Net gain (loss), including impairment, on equity securities 1,565 2,447 1,986 (281)
Net (loss) profit on trading account debt securities (47) 82 (92) 573
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale (73) 2,222 (73) 3,179
Adjustments (expense) to indemnity reserves on loans sold 1,668 (1,160) 970 (5,953)
Other operating income 27,444 22,440 53,828 42,304
Total non-interest income 154,540 112,055 308,193 238,698
Operating expenses:        
Personnel costs 154,204 139,166 313,683 285,997
Net occupancy expenses 24,562 25,487 50,575 50,645
Equipment expenses 22,805 20,844 44,380 42,449
Other taxes 13,205 13,323 27,164 27,004
Professional fees 101,153 92,547 201,101 193,618
Communications 6,005 5,574 12,838 11,528
Business promotion 16,511 12,281 29,032 26,478
FDIC deposit insurance 5,742 5,340 11,710 10,420
Other real estate owned (OREO) (income) expenses (4,299) (344) (8,832) 2,135
Other operating expenses 27,042 32,217 59,756 66,296
Amortization of intangibles 1,255 1,796 2,306 4,269
Total operating expenses 368,185 348,231 743,713 720,839
Income before income tax 291,172 152,256 630,635 189,655
Income tax expense 73,093 24,628 149,924 27,725
Net Income 218,079 127,628 480,711 161,930
Net Income Applicable to Common Stock $ 217,726 $ 127,275 $ 480,005 $ 160,877
Net Income per Common Share - Basic $ 2.67 $ 1.49 $ 5.80 $ 1.83
Net Income per Common Share - Diluted $ 2.66 $ 1.49 $ 5.79 $ 1.83
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 40,153 $ 30,163 $ 79,773 $ 71,822
Other services        
Interest expense:        
Revenue from contract with customer $ 76,382 $ 52,084 $ 147,010 $ 116,857