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Unaudited Quarterly Financial Data
12 Months Ended
Dec. 31, 2011
Unaudited Quarterly Financial Data
22. Unaudited Quarterly Financial Data

Our supplemental consolidated financial information for each three month period in 2011 and 2010 are as follows:

 

     Three months ended  

(Dollars in thousands, except per share amounts)

  

March 31,

   

June 30,

   

September 30,

   

December 31,

 

2011:

        

Interest income

   $ 134,101      $ 140,161      $ 143,324      $ 147,802   

Interest expense

     (13,802     (9,708     (7,869     (7,732
  

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     120,299        130,453        135,455        140,070   

Reduction of (provision for) loan losses

     3,047        (134     (769     (8,245

Noninterest income

     89,954        123,708        95,611        73,059   

Noninterest expense

     (117,435     (121,032     (127,451     (134,710
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before income tax expense

     95,865        132,995        102,846        70,174   

Income tax expense

     22,770        43,263        26,770        26,284   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income before noncontrolling interests

     73,095        89,732        76,076        43,890   

Net income attributable to noncontrolling interests

     (40,088     (23,982     (38,505     (8,316
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income available to common stockholders

   $ 33,007      $ 65,750      $ 37,571      $ 35,574   
  

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per common share—basic

   $ 0.78      $ 1.53      $ 0.87      $ 0.82   

Earnings per common share—diluted

     0.76        1.50        0.86        0.81   

2010:

        

Interest income

   $ 110,019      $ 116,245      $ 116,758      $ 118,709   

Interest expense

     (9,179     (9,809     (10,417     (14,191
  

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     100,840        106,436        106,341        104,518   

Provision for loan losses

     (10,745     (7,408     (10,971     (15,504

Noninterest income

     49,273        40,157        86,236        71,864   

Noninterest expense

     (98,576     (104,180     (104,171     (115,891
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before income tax expense

     40,792        35,005        77,435        44,987   

Income tax expense

     11,582        13,819        24,996        11,005   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income before noncontrolling interests

     29,210        21,186        52,439        33,982   

Net income attributable to noncontrolling interests

     (10,653     (66     (14,652     (16,495
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income available to common stockholders

   $ 18,557      $ 21,120      $ 37,787      $ 17,487   
  

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per common share—basic

   $ 0.45      $ 0.51      $ 0.90      $ 0.42   

Earnings per common share—diluted

     0.44        0.50        0.89        0.41