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Interim Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans $ 430,422 $ 382,569
Investment securities:    
Taxable 224,162 154,385
Non-taxable 20,897 12,824
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities 3,265 17,624
Total interest income 678,746 567,402
Interest expense:    
Deposits 10,437 37,398
Borrowings 8,730 5,867
Total interest expense 19,167 43,265
Net interest income 659,579 524,137
Provision for credit losses 18,679 243,480
Net interest income after provision for credit losses 640,900 280,657
Noninterest income:    
Gains on investment securities, net 167,078 46,055
Gains on equity warrant assets, net 221,685 13,395
Client investment fees 20,065 43,393
Foreign exchange fees 57,393 47,505
Credit card fees 27,567 28,304
Deposit service charges 25,151 24,589
Lending related fees 15,657 13,125
Letters of credit and standby letters of credit fees 13,051 11,542
Investment banking revenue 142,302 46,867
Commissions 24,439 16,022
Other 29,792 11,137
Total noninterest income 744,180 301,934
Noninterest expense:    
Compensation and benefits 445,425 255,586
Professional services 81,343 38,705
Premises and equipment 32,822 26,940
Net occupancy 17,681 18,346
Business development and travel 3,811 14,071
FDIC and state assessments 9,463 5,234
Other 45,456 40,703
Total noninterest expense 636,001 399,585
Income before income tax expense 749,079 183,006
Income tax expense 187,315 49,357
Net income before noncontrolling interests 561,764 133,649
Net income attributable to noncontrolling interests (24,950) 1,973
Preferred stock dividends (4,594) (3,369)
Net income available to common stockholders $ 532,220 $ 132,253
Earnings per common share—basic (dollars per share) $ 10.20 $ 2.56
Earnings per common share—diluted (dollars per share) $ 10.03 $ 2.55