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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands, shares in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans, including fees $ 434,700 $ 298,400
Investment securities 46,700 32,800
Dividends and other 3,100 2,900
Total interest income 484,500 334,100
Interest expense:    
Deposits 14,100 10,800
Qualifying debt 8,400 5,900
Other borrowings 12,500 100
Total interest expense 35,000 16,800
Net interest income 449,500 317,300
Provision for (recovery of) credit losses 9,000 32,400
Net interest income after provision for (recovery of) credit losses 440,500 349,700
Net gain on loan origination and sale activities 36,900 0
Non-interest income:    
Service charges and fees 7,000 6,700
Income from equity instruments 4,100 7,600
Commercial banking related income 5,100 3,400
Unrealized gains (losses) on assets measured at fair value, net (6,600) (1,500)
Loan servicing fees, net 41,100 0
Other income 9,500 3,400
Total non-interest income 106,300 19,700
Non-interest expense:    
Salaries and employee benefits 138,300 83,700
Expense Related to Distribution or Servicing and Underwriting Fees 10,800 0
Legal, professional, and directors' fees 24,000 10,100
Loan Processing Fee 6,500 0
Occupancy 12,800 8,600
Data processing 17,600 9,900
Deposit costs 9,300 6,300
Insurance 7,200 4,200
Business development and marketing 4,400 1,400
Net loss (gain) on sales and valuations of repossessed and other assets 100 (300)
Acquisition and restructure expenses 400 400
Other expense 17,200 10,700
Total non-interest expense 248,600 135,000
Income before provision for income taxes 298,200 234,400
Income Tax Expense (Benefit) 58,100 41,900
Net income 240,100 192,500
Net income available to common shareholders $ 236,900 $ 192,500
Earnings per share:    
Basic $ 2.23 $ 1.91
Diluted $ 2.22 $ 1.90
Weighted average number of common shares outstanding:    
Basic 106.0 100.8
Diluted 106.6 101.4
Dividends declared per common share $ 0.35 $ 0.25
Gain on sales of investment securities $ 6,900 $ 100
Gain on recovery from credit guarantees 2,300 0
Preferred Stock Dividends, Income Statement Impact $ 3,200 $ 0