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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans $ 435,296 $ 431,286 $ 1,303,726 $ 1,311,402
Money market investments 6,914 2,773 14,300 16,788
Investment securities 87,952 79,142 265,348 243,938
Total interest income 530,162 513,201 1,583,374 1,572,128
Interest expense:        
Deposits 27,029 37,554 85,290 142,435
Short-term borrowings 54 416 259 2,109
Long-term debt 13,686 14,210 41,518 42,587
Total interest expense 40,769 52,180 127,067 187,131
Net interest income 489,393 461,021 1,456,307 1,384,997
Provision for credit losses (benefit) (61,173) 19,138 (160,414) 271,318
Net interest income after provision for credit losses (benefit) 550,566 441,883 1,616,721 1,113,679
Non-interest income:        
Mortgage banking activities 8,307 (9,526) 33,098 671
Net gain on sale of debt securities 23 41 23 41
Net (loss) gain, including impairment, on equity securities (401) 5,150 1,585 4,869
Net profit (loss) on trading account debt securities 58 20 (34) 593
Net (loss) gain on sale of loans, including valuation adjustments on loans held-for-sale 0 (2,198) (73) 981
Adjustments (expense) to indemnity reserves on loans sold 2,038 4,183 3,008 (1,770)
Other operating income 37,476 24,369 91,304 66,673
Total non-interest income 169,258 128,767 477,451 367,465
Operating expenses:        
Personnel costs 157,647 135,941 471,330 421,938
Net occupancy expenses 24,896 25,907 75,471 76,552
Equipment expenses 22,537 24,088 66,917 66,537
Other taxes 14,459 13,918 41,623 40,922
Professional fees 104,709 96,474 305,810 290,092
Communications 6,133 5,694 18,971 17,222
Business promotion 18,116 14,664 47,148 41,142
FDIC deposit insurance 7,181 6,568 18,891 16,988
Other real estate owned (OREO) (income) expenses (1,722) (1,615) (10,554) 520
Other operating expenses 33,429 38,351 93,185 104,647
Amortization of intangibles 783 1,076 3,089 5,345
Total operating expenses 388,168 361,066 1,131,881 1,081,905
Income before income tax 331,656 209,584 962,291 399,239
Income tax expense 83,542 41,168 233,466 68,893
Net Income 248,114 168,416 728,825 330,346
Net Income Applicable to Common Stock $ 247,761 $ 168,064 $ 727,766 $ 328,941
Net Income per Common Share - Basic $ 3.09 $ 2.01 $ 8.89 $ 3.80
Net Income per Common Share - Diluted $ 3.09 $ 2.00 $ 8.87 $ 3.80
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer $ 41,312 $ 36,849 $ 121,085 $ 108,671
Other services        
Non-interest income:        
Revenue from contract with customer $ 80,445 $ 69,879 $ 227,455 $ 186,736