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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Loans, including fees $ 427,337 $ 447,769
Investment securities available for sale 51,653 49,938
Mortgage loans held for sale 792 391
Federal Reserve Bank balances 1,508 3,671
Other earning assets 2,607 3,070
Total interest income 483,897 504,839
Interest expense:    
Deposits 86,002 87,684
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings 5,932 3,463
Long-term debt 18,703 16,517
Total interest expense 110,637 107,664
Net interest income 373,260 397,175
Provision for credit losses [1] 158,722 23,569
Net interest income after provision for credit losses 214,538 373,606
Non-interest revenue:    
Service charges on deposit accounts 20,689 20,859
Fiduciary and asset management fees 15,174 13,578
Card fees 10,950 10,877
Brokerage revenue 12,398 9,379
Mortgage banking income 12,227 5,054
Capital markets income 11,243 5,245
Income from bank-owned life insurance 6,038 5,290
Investment securities gains, net 8,734 75
Other non-interest revenue 6,404 9,021
Total non-interest revenue 103,857 79,378
Non-interest expense:    
Salaries and other personnel expense 149,678 139,427
Net occupancy and equipment expense 42,194 38,394
Third-party processing and other services 21,480 17,758
Professional fees 10,675 6,348
FDIC insurance and other regulatory fees 5,278 6,761
Advertising expense 4,752 5,123
Merger-related expense 0 49,738
Other operating expenses 42,222 28,861
Total non-interest expense 276,279 292,410
Income before income taxes 42,116 160,574
Income tax expense 3,595 40,388
Net income 38,521 120,186
Less: Preferred stock dividends 8,291 3,150
Net income available to common shareholders $ 30,230 $ 117,036
Net income per common share, basic (in dollars per share) $ 0.21 $ 0.73
Net income per common share, diluted (in dollars per share) $ 0.20 $ 0.72
Weighted average common shares outstanding, basic (in shares) 147,311 160,927
Weighted average common shares outstanding, diluted (in shares) 148,401 162,760
[1] Beginning January 1, 2020, provision calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.