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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Loans $ 450,446 $ 447,713
Money market investments 12,000 29,220
Investment securities 87,912 81,036
Total interest income 550,358 557,969
Interest expense:    
Deposits 62,101 70,826
Short-term borrowings 1,048 1,600
Long-term debt 14,114 14,580
Total interest expense 77,263 87,006
Net interest income 473,095 470,963
Provision for credit losses - loan portfolios 188,995 41,825
Provision for credit losses - Investment securities 736 0
Net interest income after provision for credit losses 283,364 429,138
Mortgage banking activities 6,420 9,926
Net (loss) gain, including impairment on equity securities (2,728) 1,433
Net profit on trading account debt securities 491 260
Net gain on sale of loans, including valuation adjustments on loans held-for-sale 957 0
Indemnity reserves on loans sold expense (4,793) (93)
Other operating income 19,864 21,906
Total non-interest income 126,643 136,430
Operating expenses:    
Personnel costs 146,831 143,117
Net occupancy expenses 25,158 23,537
Equipment expenses 21,605 19,705
Other taxes 13,681 11,662
Professional fees 101,071 87,466
Communications 5,954 5,849
Business promotion 14,197 14,674
FDIC deposit insurance 5,080 4,806
Other real estate owned (O R E O) expenses 2,479 2,677
Other operating expenses 34,079 31,615
Amortization of intangibles 2,473 2,312
Total operating expenses 372,608 347,420
Income before income tax 37,399 218,148
Income tax expense 3,097 50,223
Net Income 34,302 167,925
Net Income Applicable to Common Stock $ 33,632 $ 166,994
Net Income per Common Share - Basic $ 0.37 $ 1.69
Net Income per Common Share - Diluted $ 0.37 $ 1.69
Service charges on deposit accounts    
Interest expense:    
Revenue from contract with customer $ 41,659 $ 38,691
Other services    
Interest expense:    
Revenue from contract with customer $ 64,773 $ 64,307