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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Interest and fees on loans $ 331,000 $ 205,220 $ 954,467 $ 578,264
Interest on investment securities available-for-sale 32,391 25,575 97,872 76,867
Interest on investment securities held-to-maturity 131 131 394 460
Interest on loans held-for-sale 9,977 6,123 33,349 10,916
Interest on trading securities 14,130 8,262 43,280 24,033
Interest on other earning assets 6,040 2,834 15,473 11,757
Total interest income 393,669 248,145 1,144,835 702,297
Interest on deposits:        
Savings 30,022 10,920 70,522 31,324
Time deposits 14,667 2,591 35,428 8,342
Other interest-bearing deposits 14,401 6,759 36,922 15,976
Interest on trading liabilities 5,125 3,298 15,039 11,282
Interest on short-term borrowings 9,762 4,998 29,914 9,293
Interest on term borrowings 13,992 9,762 39,205 25,854
Total interest expense 87,969 38,328 227,030 102,071
Net interest income 305,700 209,817 917,805 600,226
Provision/(provision credit) for loan losses 2,000 0 1,000 (3,000)
Net interest income after provision/(provision credit) for loan losses 303,700 209,817 916,805 603,226
Noninterest income:        
Fixed income 44,813 55,758 128,016 161,546
Deposit transactions and cash management 35,792 28,011 107,859 80,434
Brokerage, management fees and commissions 14,200 11,937 41,423 35,872
Trust services and investment management 7,438 6,953 22,847 21,304
Trust services and investment management 6,878 6,170 19,958 17,230
Bank-owned life insurance (BOLI) 4,337 3,539 14,103 11,137
Debt securities gains/(losses), net 0 1 52 450
Equity securities gains/(losses), net (Note 3) 212,859 5 212,924 5
All other income and commissions 22,655 43 65,332 29,051
Total noninterest income 348,972 112,417 612,514 357,029
Adjusted gross income after provision/(provision credit) for loan losses 652,672 322,234 1,529,319 960,255
Noninterest expense:        
Employee compensation, incentives, and benefits 164,839 137,383 501,983 410,153
Occupancy 20,002 13,619 62,956 38,759
Computer software 15,693 11,993 45,948 35,077
Operational services 13,121 10,805 43,335 33,204
Equipment rentals, depreciation, and maintenance 9,423 6,626 30,149 20,013
Professional fees 9,270 6,566 36,957 20,971
Advertising and public relations 8,365 5,205 17,034 13,901
FDIC premium expense 7,850 6,062 26,442 17,728
Communications and courier 7,014 4,328 22,776 12,245
Amortization of intangible assets 6,460 1,964 19,394 5,160
Contract employment and outsourcing 4,314 2,762 14,274 8,975
Legal fees 2,541 2,052 7,670 10,831
Repurchase and foreclosure provision/(provision credit) (562) (609) (886) (22,580)
All other expense 25,701 28,113 112,032 72,554
Total noninterest expense 294,031 236,869 940,064 676,991
Income/(loss) before income taxes 358,641 85,365 589,255 283,264
Provision/(benefit) for income taxes 83,925 13,596 133,553 57,903
Net income/(loss) 274,716 71,769 455,702 225,361
Net income attributable to noncontrolling interest 2,883 2,883 8,555 8,555
Net income/(loss) attributable to controlling interest 271,833 68,886 447,147 216,806
Preferred stock dividends 1,550 1,550 4,650 4,650
Net income/(loss) available to common shareholders $ 270,283 $ 67,336 $ 442,497 $ 212,156
Basic earnings/(loss) per share (in dollars per share) $ 0.83 $ 0.29 $ 1.36 $ 0.91
Diluted earnings/(loss) per share (in dollars per share) $ 0.83 $ 0.28 $ 1.35 $ 0.90
Weighted average common shares (in shares) 324,406 233,749 325,341 233,438
Diluted average common shares (in shares) 327,252 236,340 328,645 236,372
Cash dividends declared per common share (in dollars per share) $ 0.12 $ 0.09 $ 0.36 $ 0.27