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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income:        
Mortgage and other loans and leases $ 391,920 $ 368,264 $ 1,159,344 $ 1,092,637
Securities and money market investments 62,631 56,880 195,133 154,164
Total interest income 454,551 425,144 1,354,477 1,246,801
Interest Expense:        
Interest-bearing checking and money market accounts 42,465 44,497 140,396 119,246
Savings accounts 9,326 7,325 26,270 21,176
Certificates of deposit 86,934 51,249 235,360 121,298
Borrowed funds 79,911 72,567 237,521 201,322
Total interest expense 218,636 175,638 639,547 463,042
Net interest income 235,915 249,506 714,930 783,759
Provision for losses on loans 4,781 1,201 5,403 15,486
Net interest income after provision for loan losses 231,134 248,305 709,527 768,273
Non-Interest Income:        
Fee income 7,580 7,237 22,295 22,056
Bank-owned life insurance 6,791 7,302 20,245 20,424
Net gain (loss) on securities 275 (41) 7,755 (810)
Other 9,740 8,424 16,473 26,815
Total non-interest income 24,386 22,922 66,768 68,485
Operating expenses:        
Compensation and benefits 75,159 78,283 229,172 242,572
Occupancy and equipment 21,748 24,401 66,599 74,311
General and administrative 26,395 31,749 89,350 94,799
Total non-interest expense 123,302 134,433 385,121 411,682
Income before income taxes 132,218 136,794 391,174 425,076
Income tax expense 33,172 30,022 97,305 104,398
Net income 99,046 106,772 293,869 320,678
Preferred stock dividends 8,207 8,207 24,621 24,621
Net income available to common shareholders $ 90,839 $ 98,565 $ 269,248 $ 296,057
Basic earnings per common share $ 0.19 $ 0.20 $ 0.57 $ 0.60
Diluted earnings per common share $ 0.19 $ 0.20 $ 0.57 $ 0.60
Net income $ 99,046 $ 106,772 $ 293,869 $ 320,678
Other comprehensive income (loss), net of tax:        
Change in net unrealized gain (loss) on securities available for sale, net of tax of $666; $8,738; $(22,434) and $40,456, respectively (757) (20,790) 58,256 (69,047)
Change in the non-credit portion of OTTI losses recognized in other comprehensive income (loss), net of tax of $0; $0; $0; and ($821), respectively       (821)
Change in pension and post-retirement obligations, net of tax of ($710); ($547); ($2,131) and ($11,611), respectively 1,821 1,314 5,464 (6,029)
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $0; $0; $1,527 and $0 respectively     (3,918)  
Total other comprehensive income (loss), net of tax 1,064 (19,476) 59,802 (75,897)
Total comprehensive income, net of tax $ 100,110 $ 87,296 $ 353,671 $ 244,781