| QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) |
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following is a summary of the quarterly results of operations, for the years ended December 31, 2016 and 2015:
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Three months ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
(dollar amounts in thousands, except per share data) |
2016 |
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2016 |
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2016 |
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2016 |
Interest income |
$ |
814,858 |
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$ |
694,346 |
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$ |
565,658 |
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$ |
557,251 |
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Interest expense |
79,877 |
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68,956 |
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59,777 |
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54,185 |
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Net interest income |
734,981 |
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625,390 |
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505,881 |
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503,066 |
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Provision for credit losses |
74,906 |
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63,805 |
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24,509 |
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27,582 |
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Noninterest income |
334,337 |
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302,415 |
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271,112 |
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241,867 |
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Noninterest expense |
681,497 |
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712,247 |
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523,661 |
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491,080 |
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Income before income taxes |
312,915 |
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151,753 |
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228,823 |
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226,271 |
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Provision for income taxes |
73,952 |
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24,749 |
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54,283 |
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54,957 |
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Net income |
238,963 |
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127,004 |
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174,540 |
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171,314 |
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Dividends on preferred shares |
18,865 |
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18,537 |
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19,874 |
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7,998 |
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Net income applicable to common shares |
$ |
220,098 |
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$ |
108,467 |
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$ |
154,666 |
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$ |
163,316 |
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Net income per common share — Basic |
$ |
0.20 |
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$ |
0.12 |
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$ |
0.19 |
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$ |
0.21 |
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Net income per common share — Diluted |
0.20 |
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0.11 |
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0.19 |
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0.20 |
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Three months ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
(dollar amounts in thousands, except per share data) |
2015 |
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2015 |
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2015 |
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2015 |
Interest income |
$ |
544,153 |
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$ |
538,477 |
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$ |
529,795 |
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$ |
502,096 |
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Interest expense |
47,242 |
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43,022 |
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39,109 |
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34,411 |
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Net interest income |
496,911 |
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495,455 |
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490,686 |
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467,685 |
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Provision for credit losses |
36,468 |
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22,476 |
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20,419 |
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20,591 |
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Noninterest income |
272,215 |
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253,119 |
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281,773 |
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231,623 |
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Noninterest expense |
498,766 |
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526,508 |
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491,777 |
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458,857 |
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Income before income taxes |
233,892 |
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199,590 |
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260,263 |
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219,860 |
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Provision for income taxes |
55,583 |
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47,002 |
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64,057 |
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54,006 |
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Net income |
178,309 |
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152,588 |
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196,206 |
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165,854 |
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Dividends on preferred shares |
7,972 |
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7,968 |
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7,968 |
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7,965 |
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Net income applicable to common shares |
$ |
170,337 |
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$ |
144,620 |
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$ |
188,238 |
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$ |
157,889 |
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Net income per common share — Basic |
$ |
0.21 |
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$ |
0.18 |
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$ |
0.23 |
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$ |
0.19 |
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Net income per common share — Diluted |
0.21 |
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0.18 |
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0.23 |
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0.19 |
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