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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest income:      
Loans $ 834,155 $ 693,147 $ 610,945
Investment securities:      
Taxable 346,937 344,646 271,371
Non-taxable 2,234 2,905 3,136
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 10,070 6,067 6,464
Total interest income 1,193,396 1,046,765 891,916
Interest expense:      
Deposits 5,611 5,447 12,114
Borrowings 37,262 34,893 23,207
Total interest expense 42,873 40,340 35,321
Net interest income 1,150,523 1,006,425 856,595
Provision for loan losses 95,697 97,629 59,486
Net interest income after provision for loan losses 1,054,826 908,796 797,109
Noninterest income:      
Gain (Loss) on Investments 51,740 89,445 [1],[2] 267,023
Gains on derivative instruments, net 48,581 83,805 96,845
Foreign exchange fees 104,183 87,007 71,659
Credit card fees 68,205 56,657 41,792
Deposit service charges 52,524 46,683 39,937
Lending related fees 33,395 32,536 25,711
Letters of credit and standby letters of credit fees 25,644 20,889 15,649
Client investment fees 32,219 21,610 14,883
Other 40,061 34,162 (1,260)
Total noninterest income 456,552 472,794 572,239
Noninterest expense:      
Compensation and benefits 514,270 473,841 409,486
Professional services 94,982 82,839 94,377
Premises and equipment 65,502 51,927 49,716
Business development and travel 40,130 39,524 40,057
Net occupancy 39,928 34,674 30,004
FDIC assessments 30,285 25,455 19,206
Correspondent bank fees 12,457 13,415 13,118
Provision for (Reduction of) unfunded credit commitments 10,982 (1,946) 6,511
Other 62,243 58,287 44,705
Total noninterest expense 870,779 778,016 707,180
Income before income tax expense 640,599 603,574 662,168
Income tax expense 250,333 228,754 183,508
Net income before noncontrolling interests 390,266 374,820 [2],[3] 478,660
Net income attributable to noncontrolling interests (7,581) (30,916) [1],[3] (214,790)
Net income available to common stockholders $ 382,685 $ 343,904 $ 263,870
Earnings per common share—basic, in dollars per share $ 7.37 $ 6.70 $ 5.39
Earnings per common share—diluted, in dollars per share $ 7.31 $ 6.62 $ 5.31
[1] During the second quarter of 2015 we adopted new accounting guidance related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[2] During the second quarter of 2015 we adopted new accounting guidance related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[3] During the second quarter of 2015 we adopted new accounting guidance related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.