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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and dividend income      
Loans and leases, including fees $ 1,160,919 $ 1,086,662 $ 802,947
Mortgage loans held for sale, including fees 6,710 3,748 4,679
Taxable securities 117,428 107,137 87,359
Tax-exempt securities 8,358 10,634 8,835
Other 16,593 13,448 9,963
Total interest and dividend income 1,310,008 1,221,629 913,783
Interest expense      
Deposits 267,227 160,952 79,833
Short-term borrowings 15,739 14,682 7,557
Long-term debt 37,396 32,747 17,547
Total interest expense 320,362 208,381 104,937
Net interest income 989,646 1,013,248 808,846
Provision for credit losses 41,657 40,385 51,708
Net interest income after provision for credit losses 947,989 972,863 757,138
Non-interest income      
Loss on sale of available-for-sale securities (979) (49,900) (148)
Other non-interest income 19,945 15,896 18,004
Total non-interest income 234,360 152,562 202,147
Non-interest expense      
Salaries and employee benefits 411,869 414,741 379,527
Net occupancy and equipment 79,773 77,246 70,663
Communication and delivery 14,578 15,951 14,252
Marketing and business development 14,161 18,371 13,999
Computer services expense 38,108 39,680 36,790
Professional services 33,284 28,698 48,545
Credit and other loan-related expense 14,448 19,088 18,411
Insurance 17,365 25,274 21,815
Travel and entertainment 10,432 10,035 11,287
Amortization of acquisition intangibles 18,464 21,678 12,590
Impairment of long-lived assets and other losses 925 27,780 12,246
Other non-interest expense 29,349 24,356 26,281
Total non-interest expense 682,756 722,898 666,406
Income before income tax expense 499,593 402,527 292,879
Income tax expense 115,438 32,278 150,466
Net income 384,155 370,249 142,413
Less: Preferred stock dividends 12,602 9,095 9,095
Net income available to common shareholders 371,553 361,154 133,318
Less: Earnings allocated to unvested restricted stock 3,559 3,583 1,210
Earnings allocated to common shareholders $ 367,994 $ 357,571 $ 132,108
Earnings per common share - basic (in usd per share) $ 6.97 $ 6.50 $ 2.61
Earnings per common share - diluted (in usd per share) 6.92 6.46 2.59
Cash dividends declared per common share (in usd per share) $ 1.76 $ 1.56 $ 1.46
Comprehensive income      
Net income $ 384,155 $ 370,249 $ 142,413
Unrealized gains (losses) on securities:      
Unrealized holding gains (losses) arising during the period (net of tax effects of $24,266, $10,870, and $6,244, respectively) 85,308 (40,895) (11,596)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $242, $10,479, and $52, respectively) (737) (39,421) (96)
Unrealized gains (losses) on securities, net of tax 86,045 (1,474) (11,500)
Fair value of derivative instruments designated as cash flow hedges:      
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $495, $1,174, and $329, respectively) 1,078 4,416 (611)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $120, $52, and $210, respectively) (388) (196) (390)
Fair value of derivative instruments designated as cash flow hedges, net of tax 1,466 4,612 (221)
Other comprehensive income (loss), net of tax 87,511 3,138 (11,721)
Comprehensive income 471,666 373,387 130,692
Mortgage income      
Non-interest income      
Non-interest income 63,030 46,424 63,570
Service charges on deposit accounts      
Non-interest income      
Non-interest income 51,836 52,803 47,678
Title revenue      
Non-interest income      
Non-interest income 25,928 24,149 21,972
Commission income      
Non-interest income      
Non-interest income 16,937 8,869 6,020
Broker commissions      
Non-interest income      
Non-interest income 8,280 9,195 9,161
ATM and debit card fee income      
Non-interest income      
Non-interest income 11,871 10,295 10,199
Credit card and merchant-related income      
Non-interest income      
Non-interest income 13,260 12,540 10,904
Trust department income      
Non-interest income      
Non-interest income 17,058 15,981 9,705
Income from bank owned life insurance      
Non-interest income      
Non-interest income $ 7,194 $ 6,310 $ 5,082