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Interim Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans $ 414,077 $ 330,298 $ 808,221 $ 627,371
Investment securities:        
Taxable 134,395 137,150 261,112 261,627
Non-taxable 10,931 7,666 21,868 12,758
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 26,364 6,187 45,580 11,943
Total interest income 585,767 481,301 1,136,781 913,699
Interest expense:        
Deposits 47,150 6,270 75,057 10,367
Borrowings 9,214 8,588 19,435 17,026
Total interest expense 56,364 14,858 94,492 27,393
Net interest income 529,403 466,443 1,042,289 886,306
Provision for credit losses 23,946 29,080 52,497 57,052
Net interest income after provision for credit losses 505,457 437,363 989,792 829,254
Noninterest income:        
Gains on investment securities, net 47,698 36,114 76,726 45,172
Gains on equity warrant assets, net 48,347 19,061 69,652 38,252
Client investment fees 45,744 29,452 90,226 52,327
Foreign exchange fees 38,506 34,077 76,554 67,904
Credit card fees 28,790 22,926 56,273 44,618
Deposit service charges 22,075 18,794 43,014 36,493
Lending related fees 11,213 9,528 25,150 20,263
Letters of credit and standby letters of credit fees 11,009 8,347 20,363 16,529
Investment banking revenue 48,694 0 98,489 0
Commissions 14,429 0 28,537 0
Other 17,245 14,390 29,142 26,649
Total noninterest income 333,750 192,689 614,126 348,207
Noninterest expense:        
Compensation and benefits 243,172 181,955 481,233 347,761
Professional services 40,830 46,813 77,816 75,538
Premises and equipment 23,911 19,173 45,611 37,718
Net occupancy 16,687 13,288 32,735 26,904
Business development and travel 17,022 12,095 32,376 23,286
FDIC and state assessments 4,483 10,326 8,462 19,756
Other 37,417 22,089 70,953 40,193
Total noninterest expense 383,522 305,739 749,186 571,156
Income before income tax expense 455,685 324,313 854,732 606,305
Income tax expense 119,114 77,287 226,549 151,253
Net income before noncontrolling interests 336,571 247,026 628,183 455,052
Net income attributable to noncontrolling interests (18,584) (9,228) (21,464) (22,293)
Net income available to common stockholders $ 317,987 $ 237,798 $ 606,719 $ 432,759
Earnings per common share—basic (dollars per share) $ 6.12 $ 4.48 $ 11.61 $ 8.17
Earnings per common share—diluted (dollars per share) $ 6.08 $ 4.42 $ 11.51 $ 8.05