XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans, including fees $ 300,056 $ 261,971 $ 585,396 $ 511,319
Investment securities available for sale 23,884 20,266 47,812 40,099
Trading account assets 166 21 220 49
Mortgage loans held for sale 557 505 936 972
Federal Reserve Bank balances 2,818 1,304 4,568 2,515
Other earning assets 2,353 1,443 4,036 2,957
Total interest income 329,834 285,510 642,968 557,911
Interest expense:        
Deposits 32,600 18,118 58,975 35,075
Federal funds purchased and securities sold under repurchase agreements 203 45 310 84
Long-term debt 12,454 16,250 24,822 31,728
Total interest expense 45,257 34,413 84,107 66,887
Net interest income 284,577 251,097 558,861 491,024
Provision for loan losses 11,790 10,260 24,566 18,934
Net interest income after provision for loan losses 272,787 240,837 534,295 472,090
Non-interest income:        
Revenue from contract with customers 56,350 51,835 110,665 103,321
Income from bank-owned life insurance 3,733 3,272 7,949 6,328
Investment securities (losses) gains, net (1,296) (1) (1,296) 7,667
Decrease in fair value of private equity investments, net (37) (1,352) (3,093) (3,166)
Other non-interest income 7,174 4,807 11,124 7,762
Total non-interest income 73,387 68,701 140,433 140,539
Non-interest expense:        
Salaries and other personnel expense 111,863 105,213 225,583 212,404
Net occupancy and equipment expense 32,654 29,933 64,134 59,264
Third-party processing expense 15,067 13,620 29,012 26,223
FDIC insurance and other regulatory fees 6,543 6,875 13,335 13,645
Professional fees 6,284 7,551 11,789 12,907
Advertising expense 5,220 5,346 10,312 11,258
Valuation adjustment to Visa derivative 2,328 0 2,328 0
Foreclosed real estate expense, net (107) 1,448 749 3,582
Earnout liability adjustment 0 1,707 0 1,707
Restructuring charges, net 103 13 (212) 6,524
Other operating expenses 24,102 20,041 42,204 41,619
Total non-interest expense 204,057 191,747 399,234 389,133
Income before income taxes 142,117 117,791 275,494 223,496
Income tax expense 30,936 41,788 61,146 75,635
Net income 111,181 76,003 214,348 147,861
Dividends on preferred stock 2,559 2,559 5,119 5,119
Net income available to common shareholders $ 108,622 $ 73,444 $ 209,229 $ 142,742
Net income per common share, basic (in dollars per share) $ 0.92 $ 0.60 $ 1.77 $ 1.17
Net income per common share, diluted (in dollars per share) $ 0.91 $ 0.60 $ 1.75 $ 1.16
Weighted average common shares outstanding, basic (in shares) 118,397 122,203 118,531 122,251
Weighted average common shares outstanding, diluted (in shares) 119,139 123,027 119,229 123,043
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customers $ 19,999 $ 20,252 $ 39,938 $ 40,370
Fiduciary and asset management fees        
Non-interest income:        
Revenue from contract with customers 13,983 12,524 27,419 24,676
Card fees        
Non-interest income:        
Revenue from contract with customers 10,833 10,041 21,032 19,885
Brokerage revenue        
Non-interest income:        
Revenue from contract with customers 8,900 7,210 17,596 14,436
Mortgage banking income        
Non-interest income:        
Revenue from contract with customers 4,839 5,784 9,887 11,548
Other fee income        
Non-interest income:        
Revenue from contract with customers $ 5,259 $ 6,164 $ 9,877 $ 11,033