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Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2015
Segment Results

The following tables provide a summary of the Company’s segment results for the three months ended March 31, 2015 and 2014, on an internally managed accounting basis:

 

  For the Three Months Ended March 31, 2015
(in thousands) Banking
    Operations    
  Residential
Mortgage Banking
  Total
    Company    

Net interest income

    $289,285         $  3,483         $292,768    
    

 

 

        

 

 

        

 

 

 

Provision for loan losses

    7         --         7    
    

 

 

        

 

 

        

 

 

 

Non-interest income:

     

Third party(1)

    33,154         19,080         52,234    

Inter-segment

    (4,170)        4,170         --    
    

 

 

        

 

 

        

 

 

 

Total non-interest income

    28,984         23,250         52,234    
    

 

 

        

 

 

        

 

 

 

Non-interest expense(2)

    140,151         16,685         156,836    
    

 

 

        

 

 

        

 

 

 

Income before income tax expense

    178,111         10,048         188,159    

Income tax expense

    64,890         4,010         68,900    
    

 

 

        

 

 

        

 

 

 

Net income

    $113,221         $6,038         $119,259    
    

 

 

        

 

 

        

 

 

 

Identifiable segment assets (period-end)

    $47,573,020         $678,695         $48,251,715    
    

 

 

        

 

 

        

 

 

 

 

(1) Includes ancillary fee income.
(2) Includes both direct and indirect expenses.

 

  For the Three Months Ended March 31, 2014
(in thousands) Banking
    Operations    
  Residential
Mortgage Banking
  Total
    Company    

Net interest income

  $ 281,247     $  2,903     $ 284,150  
    

 

 

        

 

 

        

 

 

 

Recovery of loan losses

    (14,630 )     --       (14,630 )
    

 

 

        

 

 

        

 

 

 

Non-interest income:

     

Third party(1)

    21,884       15,351       37,235  

Inter-segment

    (3,779 )     3,779       --  
    

 

 

        

 

 

        

 

 

 

Total non-interest income

    18,105       19,130       37,235  
    

 

 

        

 

 

        

 

 

 

Non-interest expense(2)

    130,825       15,500       146,325  
    

 

 

        

 

 

        

 

 

 

Income before income tax expense

    183,157       6,533       189,690  

Income tax expense

    72,009       2,427       74,436  
    

 

 

        

 

 

        

 

 

 

Net income

  $ 111,148     $ 4,106     $ 115,254  
    

 

 

        

 

 

        

 

 

 

Identifiable segment assets (period-end)

  $ 46,918,973     $ 648,497     $ 47,567,470  
    

 

 

        

 

 

        

 

 

 

 

(1) Includes ancillary fee income.
(2) Includes both direct and indirect expenses.