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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Interest and fees on loans $ 315,788 $ 298,384 $ 970,739 $ 883,595
Interest and dividends on investment securities:        
Taxable 14,845 21,801 56,225 67,166
Tax-exempt 3,606 4,219 11,224 13,379
Dividends 2,684 3,171 9,177 9,140
Interest on federal funds sold and other short-term investments 420 1,686 2,296 3,947
Total interest income 337,343 329,261 1,049,661 977,227
Interest on deposits:        
Savings, NOW and money market 13,323 35,944 64,463 110,247
Time 19,028 42,848 91,699 121,350
Interest on short-term borrowings 2,588 12,953 9,275 40,362
Interest on long-term borrowings and junior subordinated debentures 19,318 16,891 53,240 45,761
Total interest expense 54,257 108,636 218,677 317,720
Net Interest Income 283,086 220,625 830,984 659,507
(Credit) provision for credit losses for held to maturity securities (112) 0 688 0
Provision for credit losses for loans 31,020 8,700 106,059 18,800
Net Interest Income After Provision for Credit Losses 252,178 211,925 724,237 640,707
Non-Interest Income        
Insurance commissions 1,816 2,748 5,426 7,922
Losses on securities transactions, net (46) (93) (127) (114)
Other-than-temporary impairment losses on securities 0 0 0 (2,928)
Fees from loan servicing 2,551 2,463 7,526 7,260
Gains on sales of loans, net 13,366 5,194 26,253 13,700
Gains (losses) on sales of assets, net 894 (159) 716 76,997
Bank owned life insurance (1,304) 2,687 7,661 6,779
Other 24,975 19,110 65,548 39,880
Total non-interest income 49,272 41,150 135,499 176,426
Non-Interest Expense        
Salary and employee benefits expense 83,626 77,271 247,886 236,559
Net occupancy and equipment expense 31,116 29,203 96,774 86,789
FDIC insurance assessment 4,847 5,098 14,858 16,150
Amortization of other intangible assets 6,377 4,694 18,528 13,175
Professional and legal fees 8,762 5,870 22,646 15,286
Loss on extinguishment of debt 2,353 0 2,353 0
Amortization of tax credit investments 2,759 4,385 9,403 16,421
Telecommunication expense 2,094 2,698 7,247 7,317
Other 18,251 16,658 53,312 43,712
Total non-interest expense 160,185 145,877 473,007 435,409
Income Before Income Taxes 141,265 107,198 386,729 381,724
Income tax expense 38,891 25,307 101,486 110,035
Net Income 102,374 81,891 285,243 271,689
Dividends on preferred stock 3,172 3,172 9,516 9,516
Net Income Available to Common Shareholders $ 99,202 $ 78,719 $ 275,727 $ 262,173
Earnings Per Common Share:        
Basic (usd per share) $ 0.25 $ 0.24 $ 0.68 $ 0.79
Diluted (usd per share) 0.25 0.24 0.68 0.79
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.33 $ 0.33
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 403,833,469 331,797,982 403,714,701 331,716,652
Diluted (in shares) 404,788,526 333,405,196 404,912,126 333,039,436
Trust and investment services        
Non-Interest Income        
Revenue from contracts with customer $ 3,068 $ 3,296 $ 9,307 $ 9,296
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 3,952 $ 5,904 $ 13,189 $ 17,634