Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

v2.3.0.15
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data
 3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Loans and leases        
Taxable $ 430,032 $ 458,792 $ 1,292,259 $ 1,405,181
Tax-exempt 2,756 1,806 8,487 3,821
Available-for-sale and other securities        
Taxable 47,947 61,438 160,201 180,039
Tax-exempt 2,321 2,725 7,517 8,675
Held-to-maturity securities - taxable 5,059 0 6,346 0
Other 2,881 9,908 10,200 19,385
Total interest income 490,996 534,669 1,485,010 1,617,101
Interest expense        
Deposits 64,985 103,380 209,085 346,504
Short-term borrowings 932 945 2,737 1,936
Federal Home Loan Bank advances 234 601 669 2,848
Subordinated notes and other long-term debt 18,367 19,781 58,374 62,302
Total interest expense 84,518 124,707 270,865 413,590
Net interest income 406,478 409,962 1,214,145 1,203,511
Provision for credit losses 43,586 119,160 128,768 547,574
Net interest income after provision for credit losses 362,892 290,802 1,085,377 655,937
Service charges on deposit accounts 65,184 65,932 180,183 211,205
Mortgage banking income 12,791 52,045 59,310 122,613
Trust services income 29,473 26,997 90,607 83,161
Electronic banking income 32,714 28,090 93,228 81,334
Insurance income 17,220 19,801 51,564 56,735
Brokerage income 20,349 16,575 61,679 51,901
Bank owned life insurance income 15,644 14,091 48,065 44,953
Automobile operating lease income 5,890 11,356 22,044 35,501
Net gains on sales of investment securities 14 2,421 5,908 11,831
Impairment losses on investment securities:        
Impairment recoveries (losses) on investment securities (5,726) 27,775 5,368 24,568
Noncredit-related (recoveries) losses on securities not expected to be sold (recognized in other comprehensive income) 4,362 (30,492) (11,079) (36,570)
Net impairment losses on investment securities (1,364) (2,717) (5,711) (12,002)
Other income 60,644 32,552 144,394 90,406
Total noninterest income 258,559 267,143 751,271 777,638
Personnel costs 226,835 208,272 664,433 586,789
Outside data processing and other services 49,602 38,553 133,773 118,305
Net occupancy 26,967 26,718 82,288 81,192
Deposit and other insurance expense 17,492 23,406 59,211 74,228
Professional services 20,281 20,672 53,826 67,757
Equipment 22,262 21,651 66,660 63,860
Marketing 22,251 20,921 59,248 49,756
Amortization of intangibles 13,387 15,145 40,143 45,432
OREO and foreclosure expense 4,668 12,047 12,997 28,547
Automobile operating lease expense 4,386 9,159 16,656 28,892
Other expense 30,987 30,765 108,991 94,455
Total noninterest expense 439,118 427,309 1,298,226 1,239,213
Income before income taxes 182,333 130,636 538,422 194,362
Provision for income taxes 38,942 29,690 122,667 4,915
Net income 143,391 100,946 415,755 189,447
Dividends on preferred shares 7,703 29,495 23,110 88,278
Net income applicable to common shares $ 135,688 $ 71,451 $ 392,645 $ 101,169
Average common shares - basic 863,911 716,911 863,542 716,604
Average common shares - diluted 867,633 719,567 867,446 719,182
Per common share:        
Net income - basic $ 0.16 $ 0.10 $ 0.45 $ 0.14
Net income - diluted $ 0.16 $ 0.10 $ 0.45 $ 0.14
Cash dividends declared, prior period $ 0.04 $ 0.01 $ 0.06 $ 0.03