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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Loans $ 442,460 $ 421,010 $ 865,835 $ 775,659
Money market investments 926 1,893 1,873 2,935
Investment securities 53,723 62,915 106,098 127,841
Trading account securities 9,790 6,599 18,544 13,177
Total interest income 506,899 492,417 992,350 919,612
INTEREST EXPENSE:        
Deposits 70,672 90,615 147,551 183,589
Short-term borrowings 13,719 15,552 27,734 30,811
Long-term debt 47,966 71,655 99,164 121,700
Total interest expense 132,357 177,822 274,449 336,100
Net interest (expense) income 374,542 314,595 717,901 583,512
Provision for loan losses 144,317 202,258 219,636 442,458
Net interest (expense) income after provision for loan losses 230,225 112,337 498,265 141,054
Service charges on deposit accounts 46,802 50,679 92,432 101,257
Other service fees 58,307 103,725 116,959 205,045
Net (loss) gain on sale and valuation adjustments of investment securities (90) 397 (90) 478
Trading account profit 874 2,464 375 2,241
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale (12,782) 5,078 (5,538) 10,146
Adjustments (expense) to indemnity reserves on loans sold (9,454) (14,389) (19,302) (31,679)
FDIC loss share income (expense) 38,670 (15,037) 54,705 (15,037)
Fair value change in equity appreciation instrument 578 24,394 8,323 24,394
Other operating income 1,255 41,516 40,664 59,848
Total non-interest income 124,160 198,827 288,528 356,693
Operating expenses:        
Personnel costs 110,959 138,032 217,099 258,964
Net occupancy expenses 25,957 29,058 50,543 57,934
Equipment expenses 10,761 25,346 22,797 48,799
Other taxes 14,623 12,459 26,595 24,763
Professional fees 49,479 34,225 96,167 61,274
Communications 7,188 11,342 14,398 22,114
Business promotion 11,332 10,204 21,192 18,499
FDIC deposit insurance 27,682 17,393 45,355 32,711
Loss on early extinguishment of debt 289 430 8,528 978
Other real estate owned (OREO) expenses 6,440 14,622 8,651 19,325
Other operating expenses 14,835 32,850 41,014 59,464
Amortization of intangibles 2,255 2,455 4,510 4,504
Total operating expenses 281,800 328,416 556,849 609,329
Income (loss) before income tax 72,585 (17,252) 229,944 (111,582)
Income tax (benefit) expense (38,100) 27,237 109,127 17,962
Net (loss) income 110,685 (44,489) 120,817 (129,544)
Net Income (Loss) Applicable to Common Stock $ 109,754 $ (236,156) $ 118,956 $ (321,211)
Net Income (Loss) per Common Share - Basic $ 0.11 $ (0.28) $ 0.12 $ (0.43)
Net Income (Loss) per Common Share - Diluted $ 0.11 $ (0.28) $ 0.12 $ (0.43)
Dividends Declared per Common Share