XML 18 R4.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans $ 446,245 $ 433,781 $ 873,036 $ 868,430
Money market investments 23,742 4,274 30,206 7,386
Investment securities 101,774 91,706 198,240 177,396
Total interest income 571,761 529,761 1,101,482 1,053,212
Interest expense:        
Deposits 27,827 28,060 52,610 58,261
Short-term borrowings 248 62 328 205
Long-term debt 9,824 13,837 20,370 27,832
Total interest expense 37,899 41,959 73,308 86,298
Net interest income 533,862 487,802 1,028,174 966,914
Provision for credit losses (benefit) 9,362 (17,015) (6,138) (99,241)
Net interest income after provision for credit losses (benefit) 524,500 504,817 1,034,312 1,066,155
Non-interest income:        
Mortgage banking activities 13,575 7,448 26,440 24,791
Net (loss) gain, including impairment, on equity securities (4,109) 1,565 (6,203) 1,986
Net gain (loss) on trading account debt securities 51 (47) (672) (92)
Net loss on sale of loans, including valuation adjustments on loans held-for-sale 0 (73) 0 (73)
Adjustments (expense) to indemnity reserves on loans sold 170 1,668 (575) 970
Other operating income 24,464 27,444 52,006 53,828
Total non-interest income 157,411 154,540 312,103 308,193
Operating expenses:        
Personnel costs 168,788 154,204 335,784 313,683
Net occupancy expenses 26,214 24,562 50,937 50,575
Equipment expenses 25,088 22,805 48,567 44,380
Other taxes 15,780 13,205 31,495 27,164
Professional fees 114,872 101,153 223,369 201,101
Communications 5,993 6,005 12,140 12,838
Business promotion 21,353 16,511 36,436 29,032
FDIC deposit insurance 6,463 5,742 13,835 11,710
Other real estate owned (OREO) income (7,806) (4,299) (10,519) (8,832)
Other operating expenses 28,738 27,042 64,887 59,756
Amortization of intangibles 795 1,255 1,686 2,306
Total operating expenses 406,278 368,185 808,617 743,713
Income before income tax 275,633 291,172 537,798 630,635
Income tax expense 64,212 73,093 114,691 149,924
Net Income 211,421 218,079 423,107 480,711
Net Income Applicable to Common Stock $ 211,068 $ 217,726 $ 422,401 $ 480,005
Net Income per Common Share - Basic $ 2.77 $ 2.67 $ 5.46 $ 5.80
Net Income per Common Share - Diluted $ 2.77 $ 2.66 $ 5.46 $ 5.79
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer $ 41,809 $ 40,153 $ 82,522 $ 79,773
Other services        
Non-interest income:        
Revenue from contract with customer $ 81,451 $ 76,382 $ 158,585 $ 147,010