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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Interest and fees on loans $ 296,934 $ 247,690 $ 585,211 $ 485,276
Interest and dividends on investment securities:        
Taxable 22,489 22,222 45,365 43,545
Tax-exempt 4,356 5,639 9,160 11,360
Dividends 2,795 3,728 5,969 5,667
Interest on federal funds sold and other short-term investments 1,168 839 2,261 1,765
Total interest income 327,742 280,118 647,966 547,613
Interest on deposits:        
Savings, NOW and money market 38,020 24,756 74,303 47,073
Time 40,331 16,635 78,502 31,251
Interest on short-term borrowings 14,860 10,913 27,409 16,645
Interest on long-term borrowings and junior subordinated debentures 14,297 17,062 28,870 34,294
Total interest expense 107,508 69,366 209,084 129,263
Net Interest Income 220,234 210,752 438,882 418,350
Provision for credit losses 2,100 7,142 10,100 18,090
Net Interest Income After Provision for Credit Losses 218,134 203,610 428,782 400,260
Non-Interest Income        
Insurance commissions 2,649 4,026 5,174 7,847
Gains (losses) on securities transactions, net 11 (36) (21) (801)
Other-than-temporary impairment losses on securities (2,928) 0 (2,928) 0
Portion recognized in other comprehensive income (before taxes) 0 0 0 0
Net impairment losses on securities recognized in earnings (2,928) 0 (2,928) 0
Fees from loan servicing 2,367 2,045 4,797 4,268
Gains on sales of loans, net 3,930 7,642 8,506 14,395
(Losses) gains on sales of assets, net (564) (125) 77,156 (222)
Bank owned life insurance 2,205 2,652 4,092 4,415
Other 11,010 11,924 20,770 19,994
Total non-interest income 27,603 38,069 135,276 70,320
Non-Interest Expense        
Salary and employee benefits expense 76,183 78,944 159,288 172,236
Net occupancy and equipment expense 29,700 26,901 57,586 54,825
FDIC insurance assessment 4,931 8,044 11,052 13,542
Amortization of other intangible assets 4,170 4,617 8,481 8,910
Professional and legal fees 4,145 5,337 9,416 22,384
Amortization of tax credit investments 4,863 4,470 12,036 9,744
Telecommunication expense 2,351 3,015 4,619 6,609
Other 15,394 18,588 27,054 35,418
Total non-interest expense 141,737 149,916 289,532 323,668
Income Before Income Taxes 104,000 91,763 274,526 146,912
Income tax expense 27,532 18,961 84,728 32,145
Net Income 76,468 72,802 189,798 114,767
Dividends on preferred stock 3,172 3,172 6,344 6,344
Net Income Available to Common Shareholders $ 73,296 $ 69,630 $ 183,454 $ 108,423
Earnings Per Common Share:        
Basic (usd per share) $ 0.22 $ 0.21 $ 0.55 $ 0.33
Diluted (usd per share) 0.22 0.21 0.55 0.33
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.22 $ 0.22
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 331,748,552 331,318,381 331,675,313 331,024,531
Diluted (in shares) 332,959,802 332,895,483 332,929,359 332,599,991
Trust and investment services        
Non-Interest Income        
Revenue from contracts with customer $ 3,096 $ 3,262 $ 6,000 $ 6,492
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 5,827 $ 6,679 $ 11,730 $ 13,932