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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Interest and fees on loans $ 309,753 $ 315,788 $ 938,248 $ 970,739
Interest and dividends on investment securities:        
Taxable 14,292 14,845 40,174 56,225
Tax-exempt 2,609 3,606 9,181 11,224
Dividends 1,505 2,684 5,543 9,177
Interest on federal funds sold and other short-term investments 642 420 1,101 2,296
Total interest income 328,801 337,343 994,247 1,049,661
Interest on deposits:        
Savings, NOW and money market 10,605 13,323 32,896 64,463
Time 4,394 19,028 21,766 91,699
Interest on short-term borrowings 1,464 2,588 4,390 9,275
Interest on long-term borrowings and junior subordinated debentures 11,312 19,318 40,595 53,240
Total interest expense 27,775 54,257 99,647 218,677
Net Interest Income 301,026 283,086 894,600 830,984
Provision (credit) for credit losses for held to maturity securities 35 (112) (353) 688
Provision for credit losses for loans 3,496 31,020 21,287 106,059
Net Interest Income After Provision for Credit Losses 297,495 252,178 873,666 724,237
Non-Interest Income        
Insurance commissions 1,610 1,816 5,805 5,426
Gains (losses) on securities transactions, net 787 (46) 1,263 (127)
Fees from loan servicing 2,894 2,551 8,980 7,526
Gains on sales of loans, net 6,442 13,366 20,016 26,253
Gains on sales of assets, net 344 894 380 716
Bank owned life insurance 2,018 (1,304) 6,824 7,661
Other 19,358 24,975 47,497 65,548
Total non-interest income 42,431 49,272 116,790 135,499
Non-Interest Expense        
Salary and employee benefits expense 93,992 83,626 273,190 247,886
Net occupancy and equipment expense 32,402 31,116 97,112 96,774
FDIC insurance assessment 3,644 4,847 10,294 14,858
Amortization of other intangible assets 5,298 6,377 16,753 18,528
Professional and legal fees 13,492 8,762 27,250 22,646
Loss on extinguishment of debt 0 2,353 8,406 2,353
Amortization of tax credit investments 3,079 2,759 8,795 9,403
Telecommunication expense 2,615 2,094 8,507 7,247
Other 20,400 18,251 56,721 53,312
Total non-interest expense 174,922 160,185 507,028 473,007
Income Before Income Taxes 165,004 141,265 483,428 386,729
Income tax expense 42,424 38,891 124,626 101,486
Net Income 122,580 102,374 358,802 285,243
Dividends on preferred stock 3,172 3,172 9,516 9,516
Net Income Available to Common Shareholders $ 119,408 $ 99,202 $ 349,286 $ 275,727
Earnings Per Common Share:        
Basic (usd per share) $ 0.29 $ 0.25 $ 0.86 $ 0.68
Diluted (usd per share) 0.29 0.25 0.86 0.68
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) 406,824,160 403,833,469 405,986,114 403,714,701
Diluted (in shares) 409,238,001 404,788,526 408,509,767 404,912,126
Trust and investment services        
Non-Interest Income        
Revenue from contracts with customer $ 3,550 $ 3,068 $ 10,411 $ 9,307
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 5,428 $ 3,952 $ 15,614 $ 13,189