Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.6.0.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest and fee income:      
Loans and leases $ 2,178,044 $ 1,759,525 $ 1,674,563
Available-for-sale and other securities      
Taxable 221,782 202,104 171,080
Tax-exempt 58,853 42,014 28,965
Held-to-maturity securities 138,312 86,614 88,724
Other 35,122 24,264 13,130
Total interest income 2,632,113 2,114,521 1,976,462
Interest expense      
Deposits 102,005 82,175 86,453
Short-term borrowings 5,140 1,584 2,940
Federal Home Loan Bank advances 274 586 1,011
Subordinated notes and other long-term debt 155,376 79,439 48,917
Total interest expense 262,795 163,784 139,321
Net interest income 2,369,318 1,950,737 1,837,141
Provision for credit losses 190,802 99,954 80,989
Net interest income after provision for credit losses 2,178,516 1,850,783 1,756,152
Service charges on deposit accounts 324,299 280,349 273,741
Cards and payment processing income 169,064 142,715 105,401
Mortgage banking income 128,257 111,853 84,887
Trust services 108,274 105,833 115,972
Insurance income 64,523 65,264 65,473
Brokerage income 61,834 60,205 68,277
Capital markets fees 59,527 53,616 43,731
Bank owned life insurance income 57,567 52,400 57,048
Gain on sale of loans 47,153 33,037 21,091
Net gains on sales of securities 2,035 3,184 17,554
Impairment losses recognized in earnings on available-for-sale securities (2,119) (2,440) 0
Other income 129,317 132,714 126,004
Total noninterest income 1,149,731 1,038,730 979,179
Personnel costs 1,349,124 1,122,182 1,048,775
Outside data processing and other services 304,743 231,353 212,586
Equipment 164,839 124,957 119,663
Net occupancy 153,090 121,881 128,076
Professional services 105,266 50,291 59,555
Marketing 62,957 52,213 50,560
Deposit and other insurance expense 54,107 44,609 49,044
Amortization of intangibles 30,456 27,867 39,277
Other expense 183,903 200,555 174,810
Total noninterest expense 2,408,485 1,975,908 1,882,346
Income before income taxes 919,762 913,605 852,985
Provision for income taxes 207,941 220,648 220,593
Net income 711,821 692,957 632,392
Dividends on preferred shares 65,274 31,873 31,854
Net income available to common shareholders $ 646,547 $ 661,084 $ 600,538
Average common shares—basic (in shares) 904,438 803,412 819,917
Average common shares—diluted (in shares) 918,790 817,129 833,081
Per common share:      
Net income - basic (in USD per share) $ 0.72 $ 0.82 $ 0.73
Net income - diluted (in USD per share) 0.70 0.81 0.72
Cash dividends declared, prior period (in USD per share) $ 0.29 $ 0.25 $ 0.21
Impairment losses on available-for-sale securities:      
Total OTTI losses $ (5,851) $ (3,144) $ 0
Noncredit-related portion of loss recognized in other comprehensive income 3,732 704 0
Impairment losses recognized in earnings on available-for-sale securities $ (2,119) $ (2,440) $ 0