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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans $ 434,649 $ 450,446
Money market investments 3,112 12,000
Investment securities 85,690 87,912
Total interest income 523,451 550,358
Interest expense:    
Deposits 30,201 62,101
Short-term borrowings 143 1,048
Long-term debt 13,995 14,114
Total interest expense 44,339 77,263
Net interest income 479,112 473,095
Provision (reversal) for credit losses (82,226) 189,731
Net interest income after provision (reversal) for credit losses 561,338 283,364
Mortgage banking activities 17,343 6,420
Net gain (loss), including impairment, on equity securities 421 (2,728)
Net (loss) profit on trading account debt securities (45) 491
Net gain on sale of loans, including valuation adjustments on loans held-for-sale 0 957
Indemnity reserves on loans sold expense (698) (4,793)
Other operating income 26,384 19,864
Total non-interest income 153,653 126,643
Operating expenses:    
Personnel costs 159,479 146,831
Net occupancy expenses 26,013 25,158
Equipment expenses 21,575 21,605
Other taxes 13,959 13,681
Professional fees 99,948 101,071
Communications 6,833 5,954
Business promotion 12,521 14,197
FDIC deposit insurance 5,968 5,080
Other real estate owned (OREO) (income) expenses (4,533) 2,479
Other operating expenses 32,714 34,079
Amortization of intangibles 1,051 2,473
Total operating expenses 375,528 372,608
Income before income tax 339,463 37,399
Income tax expense 76,831 3,097
Net Income 262,632 34,302
Net Income Applicable to Common Stock $ 262,279 $ 33,602
Net Income per Common Share - Basic $ 3.13 $ 0.37
Net Income per Common Share - Diluted $ 3.12 $ 0.37
Service charges on deposit accounts    
Interest expense:    
Revenue from contract with customer $ 39,620 $ 41,659
Other services    
Interest expense:    
Revenue from contract with customer $ 70,628 $ 64,773