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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans and leases, including fees $ 1,119,662 $ 1,060,832 $ 3,363,152 $ 3,065,272
Investment securities        
Fully taxable 69,059 80,118 225,048 244,989
Exempt from federal taxes 98 153 270 573
Deposits at banks 40,388 26,000 104,120 66,546
Other 262 272 1,101 1,050
Total interest income 1,229,469 1,167,375 3,693,691 3,378,430
Interest expense        
Savings and interest-checking deposits 104,724 56,156 272,419 145,421
Time deposits 25,456 12,976 71,468 35,274
Deposits at Cayman Islands office 6,218 1,556 16,995 2,479
Short-term borrowings 6,967 1,600 21,573 3,866
Long-term borrowings 56,214 66,049 189,805 178,048
Total interest expense 199,579 138,337 572,260 365,088
Net interest income 1,029,890 1,029,038 3,121,431 3,013,342
Provision for credit losses 45,000 16,000 122,000 94,000
Net interest income after provision for credit losses 984,890 1,013,038 2,999,431 2,919,342
Other income        
Brokerage services income 12,077 12,267 37,031 38,288
Trading account and foreign exchange gains 16,072 6,073 45,327 15,965
Gain (loss) on bank investment securities 3,737 (3,415) 24,489 (10,520)
Other revenues from operations 103,882 113,769 351,082 340,351
Total other income 527,779 459,294 1,540,639 1,375,404
Other expense        
Salaries and employee benefits 476,780 431,371 1,431,717 1,313,336
Equipment and net occupancy 82,690 77,481 241,187 225,309
Outside data processing and software 60,360 50,678 168,011 148,819
FDIC assessments 9,906 18,849 29,104 58,689
Advertising and marketing 22,088 21,784 66,409 59,800
Printing, postage and supplies 10,201 8,843 30,380 26,881
Amortization of core deposit and other intangible assets 5,088 6,143 15,185 19,163
Other costs of operations 210,506 160,830 663,006 633,903
Total other expense 877,619 775,979 2,644,999 2,485,900
Income before taxes 635,050 696,353 1,895,071 1,808,846
Income taxes 154,969 170,262 458,988 436,985
Net income 480,081 526,091 1,436,083 1,371,861
Net income available to common shareholders        
Basic 461,410 505,363 1,376,128 1,310,697
Diluted $ 461,410 $ 505,365 $ 1,376,129 $ 1,310,703
Net income per common share        
Basic $ 3.47 $ 3.54 $ 10.16 $ 9.01
Diluted $ 3.47 $ 3.53 $ 10.16 $ 9.00
Average common shares outstanding        
Basic 132,965 142,822 135,411 145,424
Diluted 132,999 142,976 135,443 145,605
Mortgage Banking Revenues [Member]        
Other income        
Revenue from contract with customer $ 137,004 $ 88,408 $ 339,636 $ 268,213
Service Charges on Deposit Accounts [Member]        
Other income        
Revenue from contract with customer 111,092 108,647 321,991 320,546
Trust Income [Member]        
Other income        
Revenue from contract with customer $ 143,915 $ 133,545 $ 421,083 $ 402,561