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Consolidated Statement of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Loans and leases, including fees $ 674,549 $ 624,247 $ 1,323,063 $ 1,218,279
Deposits at banks 767 479 980 515
Federal funds sold 8 10 11 28
Agreements to resell securities   127   128
Trading account 318 282 635 670
Investment securities        
Fully taxable 59,724 60,827 122,688 131,489
Exempt from federal taxes 2,020 2,281 4,104 4,627
Total interest income 737,386 688,253 1,451,481 1,355,736
Interest expense        
NOW accounts 424 274 707 476
Savings deposits 16,940 20,757 35,123 39,996
Time deposits 12,354 19,310 25,863 38,381
Deposits at Cayman Islands office 232 193 445 587
Short-term borrowings 348 147 651 639
Long-term borrowings 59,105 61,370 120,320 120,651
Total interest expense 89,403 102,051 183,109 200,730
Net interest income 647,983 586,202 1,268,372 1,155,006
Provision for credit losses 60,000 63,000 109,000 138,000
Net interest income after provision for credit losses 587,983 523,202 1,159,372 1,017,006
Other income        
Mortgage banking revenues 69,514 42,151 125,706 87,307
Service charges on deposit accounts 110,982 119,716 219,871 229,447
Trust income 122,275 75,592 239,228 104,913
Brokerage services income 16,172 14,926 30,073 29,222
Trading account and foreign exchange gains 6,238 6,798 16,809 15,077
Gain (loss) on bank investment securities (408) 110,744 (363) 150,097
Total other-than-temporary impairment ("OTTI") losses (4,072) (33,211) (24,112) (42,725)
Portion of OTTI losses recognized in other comprehensive income (before taxes) (12,101) 6,681 (3,547) 154
Net OTTI losses recognized in earnings (16,173) (26,530) (27,659) (42,571)
Equity in earnings of Bayview Lending Group LLC (6,635) (5,223) (11,387) (11,901)
Other revenues from operations 89,685 163,482 176,095 254,485
Total other income 391,650 501,656 768,373 816,076
Other expense        
Salaries and employee benefits 323,686 300,178 669,784 566,268
Equipment and net occupancy 65,376 59,670 130,419 116,333
Printing, postage and supplies 11,368 9,723 23,240 18,925
Amortization of core deposit and other intangible assets 15,907 14,740 32,681 27,054
FDIC assessments 24,962 26,609 53,911 45,703
Other costs of operations 186,093 165,975 357,052 302,183
Total other expense 627,392 576,895 1,267,087 1,076,466
Income before taxes 352,241 447,963 660,658 756,616
Income taxes 118,861 125,605 220,815 227,985
Net income 233,380 322,358 439,843 528,631
Net income available to common shareholders        
Basic 214,709 297,164 402,947 487,283
Diluted $ 214,716 $ 297,179 $ 402,958 $ 487,308
Net income per common share        
Basic $ 1.71 $ 2.43 $ 3.21 $ 4.04
Diluted $ 1.71 $ 2.42 $ 3.20 $ 4.02
Cash dividends per common share $ 0.70 $ 0.70 $ 1.40 $ 1.40
Average common shares outstanding        
Basic 125,488 122,181 125,354 120,699
Diluted 125,897 122,796 125,756 121,332