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Consolidated Statement of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income        
Loans and leases, including fees $ 687,466 $ 655,581 $ 2,010,529 $ 1,873,860
Deposits at banks 139 1,164 1,119 1,679
Federal funds sold 6 23 17 51
Agreements to resell securities   4   132
Trading account 214 312 849 982
Investment securities        
Fully taxable 54,959 60,880 177,647 192,369
Exempt from federal taxes 2,067 2,387 6,171 7,014
Total interest income 744,851 720,351 2,196,332 2,076,087
Interest expense        
NOW accounts 327 354 1,034 830
Savings deposits 16,510 22,664 51,633 62,660
Time deposits 10,843 17,684 36,706 56,065
Deposits at Cayman Islands office 336 188 781 775
Short-term borrowings 365 222 1,016 861
Long-term borrowings 53,748 62,520 174,068 183,171
Total interest expense 82,129 103,632 265,238 304,362
Net interest income 662,722 616,719 1,931,094 1,771,725
Provision for credit losses 46,000 58,000 155,000 196,000
Net interest income after provision for credit losses 616,722 558,719 1,776,094 1,575,725
Other income        
Mortgage banking revenues 106,812 38,141 232,518 125,448
Service charges on deposit accounts 114,463 121,577 334,334 351,024
Trust income 115,709 113,652 354,937 218,565
Brokerage services income 14,114 13,907 44,187 43,129
Trading account and foreign exchange gains 8,469 4,176 25,278 19,253
Gain on bank investment securities 372 89 9 150,186
Total other-than-temporary impairment ("OTTI") losses (2,134) (7,649) (26,246) (50,374)
Portion of OTTI losses recognized in other comprehensive income (before taxes) (3,538) (1,993) (7,085) (1,839)
Net OTTI losses recognized in earnings (5,672) (9,642) (33,331) (52,213)
Equity in earnings of Bayview Lending Group LLC (5,183) (6,911) (16,570) (18,812)
Other revenues from operations 96,649 93,393 272,744 347,878
Total other income 445,733 368,382 1,214,106 1,184,458
Other expense        
Salaries and employee benefits 321,746 325,197 991,530 891,465
Equipment and net occupancy 64,248 68,101 194,667 184,434
Printing, postage and supplies 8,272 10,593 31,512 29,518
Amortization of core deposit and other intangible assets 14,085 17,401 46,766 44,455
FDIC assessments 23,801 26,701 77,712 72,404
Other costs of operations 183,875 214,026 540,927 516,209
Total other expense 616,027 662,019 1,883,114 1,738,485
Income before taxes 446,428 265,082 1,107,086 1,021,698
Income taxes 152,966 81,974 373,781 309,959
Net income 293,462 183,108 733,305 711,739
Net income available to common shareholders        
Basic 273,885 164,668 676,821 651,941
Diluted $ 273,896 $ 164,671 $ 676,842 $ 651,966
Net income per common share        
Basic $ 2.18 $ 1.32 $ 5.39 $ 5.34
Diluted $ 2.17 $ 1.32 $ 5.37 $ 5.32
Cash dividends per common share $ 0.70 $ 0.70 $ 2.10 $ 2.10
Average common shares outstanding        
Basic 125,819 124,575 125,510 122,005
Diluted 126,292 124,860 125,936 122,521