Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
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INTEREST INCOME | ||||
Interest and fees on loans | $ 184,246 | $ 163,059 | $ 357,895 | $ 322,715 |
Interest and dividends on investment securities: | ||||
Taxable | 23,658 | 24,270 | 47,133 | 49,786 |
Tax exempt | 8,143 | 7,894 | 16,272 | 15,724 |
Other interest | 1,553 | 1,318 | 3,089 | 2,385 |
Total interest income | 217,600 | 196,541 | 424,389 | 390,610 |
INTEREST EXPENSE | ||||
Interest on deposits | 21,180 | 11,678 | 38,104 | 23,444 |
Interest on Federal funds purchased and securities sold under agreements to repurchase | 824 | 378 | 1,339 | 674 |
Interest on other short-term funding | 1,827 | 845 | 2,907 | 1,360 |
Interest on long-term funding | 9,950 | 6,923 | 17,946 | 16,428 |
Total interest expense | 33,781 | 19,824 | 60,296 | 41,906 |
NET INTEREST INCOME | 183,819 | 176,717 | 364,093 | 348,704 |
Provision for credit losses | 12,000 | 14,000 | 21,000 | 34,000 |
Net interest income after provision for credit losses | 171,819 | 162,717 | 343,093 | 314,704 |
NONINTEREST INCOME | ||||
Trust service fees | 12,346 | 11,509 | 24,281 | 22,956 |
Service charges on deposit accounts | 16,030 | 16,444 | 32,386 | 32,717 |
Card-based and other nondeposit fees | 13,764 | 12,717 | 26,229 | 24,708 |
Insurance commissions | 20,853 | 22,005 | 42,473 | 43,387 |
Brokerage and annuity commissions | 4,346 | 4,098 | 8,679 | 7,892 |
Mortgage banking, net | 5,027 | 4,067 | 9,606 | 8,271 |
Capital market fees, net | 4,042 | 3,793 | 7,925 | 7,331 |
Bank owned life insurance income | 3,899 | 2,973 | 6,514 | 7,743 |
Asset gains (losses), net | (466) | (343) | (700) | 181 |
Investment securities gains, net | 356 | 3,116 | 356 | 6,214 |
Other | 2,213 | 1,789 | 4,492 | 3,960 |
Total noninterest income | 82,410 | 82,168 | 162,241 | 165,360 |
NONINTEREST EXPENSE | ||||
Personnel expense | 104,683 | 102,129 | 209,102 | 203,527 |
Occupancy | 12,832 | 13,215 | 28,051 | 27,017 |
Equipment | 5,234 | 5,396 | 10,719 | 10,842 |
Technology | 15,473 | 14,450 | 29,893 | 28,714 |
Business development and advertising | 7,152 | 6,591 | 12,987 | 14,802 |
Other intangible amortization | 496 | 539 | 1,009 | 1,043 |
Loan expense | 2,974 | 3,442 | 5,594 | 6,663 |
Legal and professional fees | 5,711 | 4,856 | 9,877 | 9,881 |
Foreclosure / OREO expense | 1,182 | 1,330 | 2,687 | 3,207 |
FDIC expense | 8,000 | 8,750 | 16,000 | 16,500 |
Other | 12,579 | 13,662 | 24,088 | 26,135 |
Total noninterest expense | 176,316 | 174,360 | 350,007 | 348,331 |
Income before income taxes | 77,913 | 70,525 | 155,327 | 131,733 |
Income tax expense | 19,930 | 21,434 | 41,074 | 40,108 |
Net income | 57,983 | 49,091 | 114,253 | 91,625 |
Preferred stock dividends | 2,339 | 2,169 | 4,669 | 4,367 |
Net income available to common equity | $ 55,644 | $ 46,922 | $ 109,584 | $ 87,258 |
Earnings per common share: | ||||
Basic (in usd per share) | $ 0.36 | $ 0.31 | $ 0.72 | $ 0.58 |
Diluted (in usd per share) | $ 0.36 | $ 0.31 | $ 0.71 | $ 0.58 |
Average common shares outstanding: | ||||
Basic (in shares) | 151,573 | 148,511 | 151,196 | 148,556 |
Diluted (in shares) | 154,302 | 149,530 | 154,147 | 149,518 |
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- Definition Capital market fees, net. No definition available.
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- Definition Card based and other non deposit fees. No definition available.
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- Definition Legal and professional fees. No definition available.
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- Definition Loan Expense No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of commission revenue from buying and selling securities on behalf of customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents equipment expense including depreciation, repairs, rentals, and service contract costs. This item also includes equipment purchases which do not qualify for capitalization in accordance with the entity's accounting policy. This item may also include furniture expenses. No definition available.
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Includes amounts charged depositors for: (1) maintenance of their accounts (maintenance charges); (2) failure to maintain specified minimum balances on account; (3) exceeding the number of checks or transactions allowed to be processed in a given period; (4) checks drawn on no minimum balance deposit accounts; (5) withdrawals from nontransaction deposit accounts; (6) closing savings accounts before a specified minimum period of time has elapsed; (7) accounts which have remained inactive for extended periods of time or which have become dormant; (8) use of automated teller machines or remote service units; (9) checks drawn against insufficient funds that the bank assesses regardless of whether it decides to pay, return or hold the check; (10) issuing stop payment orders; (11) certifying checks; and (12) accumulating or disbursing funds deposited in IRAs or Keogh Plan accounts when not handled by the bank's trust department. This item does not include penalties assessed on the early withdrawal of time deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Income from services rendered by trust departments or by any consolidated subsidiaries acting in a fiduciary capacity, including fees earned for (1) acting as an agent for fiduciary placement and loans and (2) custody or investment advisory services when such fees are not separately billed to the customer. This item excludes commissions and fees received for the accumulation or disbursement of funds deposited to Individual Retirement or Keogh plan accounts when such are not handled by the reporting entity's trust department. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Income from mortgage banking activities (fees and commissions) and servicing real estate mortgages, credit cards, and other financial assets held by others net of any related impairment of capitalized service costs. Also includes any premiums received in lieu of regular servicing fees on such loans only as earned over the life of the loans. No definition available.
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- Definition Amount of expense recognized during the period for the foreclosure on real estate assets. No definition available.
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- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. No definition available.
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate expense incurred on federal funds purchased and securities sold under agreements to repurchase. If amounts recognized as payables under repurchase agreements have been offset against amounts recognized as receivables under reverse repurchase agreements and reported as a net amount on the balance sheet, the income and expense from these agreements may be reported on a net basis. No definition available.
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- Definition Aggregate amount of interest paid or due on all long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Interest expense incurred during the reporting period on other short-term borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities exempt from state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities subject to state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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