XML 14 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
INTERIM CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income:    
Loans$ 101,693$ 80,716$ 284,935$ 230,216
Available-for-sale securities:    
Taxable39,35732,375124,956101,493
Non-taxable8999482,7232,869
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities1,3752,7194,9728,444
Total interest income143,324116,758417,586343,022
Interest expense:    
Deposits1,7153,7837,37911,315
Borrowings6,1546,63424,00018,090
Total interest expense7,86910,41731,37929,405
Net interest income135,455106,341386,207313,617
Provision for (reduction of) loan losses76910,971(2,144)29,124
Net interest income after provision for loan losses134,68695,370388,351284,493
Noninterest income:    
Gains on investment securities, net52,26246,611175,27967,420
Foreign exchange fees11,5469,09132,39726,207
Gains on derivative instruments, net9,9511,25724,1534,565
Deposit service charges8,2597,32423,21422,283
Credit card fees4,5063,13912,6878,853
Client investment fees2,9394,6819,70713,562
Letters of credit and standby letters of credit income3,0402,7528,4527,869
Other3,10811,38123,38424,907
Total noninterest income95,61186,236309,273175,666
Noninterest expense:    
Compensation and benefits77,00962,170232,529181,993
Professional services16,12212,61843,00037,358
Premises and equipment7,2205,54819,57216,651
Business development and travel5,8865,15317,42914,542
Net occupancy4,9675,13114,16314,468
FDIC assessments2,3022,6377,94013,273
Correspondent bank fees2,3362,2286,7016,132
Provision for unfunded credit commitments2,0551,6922,1312,561
Other9,5546,99422,45319,949
Total noninterest expense127,451[1]104,171[1]365,918[1]306,927[1]
Income before income tax expense102,846[2]77,435[2]331,706[2]153,232[2]
Income tax expense26,77024,99692,80350,397
Net income before noncontrolling interests76,07652,439238,903102,835
Net income attributable to noncontrolling interests(38,505)(14,652)(102,575)(25,371)
Net income available to common stockholders$ 37,571$ 37,787$ 136,328$ 77,464
Earnings per common share-basic$ 0.87$ 0.90$ 3.18$ 1.86
Earnings per common share-diluted$ 0.86$ 0.89$ 3.12$ 1.83
[1]The Global Commercial Bank segment includes direct depreciation and amortization of $3.1 million and $2.5 million for the three months ended September 30, 2011 and 2010, respectively, and $8.8 million and $7.3 million for the nine months ended September 30, 2011 and 2010, respectively.
[2]The internal reporting model used by management to assess segment performance does not calculate income tax expense by segment. Our effective tax rate is a reasonable approximation of the segment rates.