Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

v3.6.0.2
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
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:
 
 
 
 
 
 
 
 
 
Three months ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in thousands, except per share data)
2016
 
2016
 
2016
 
2016
Interest income
$
814,858

 
$
694,346

 
$
565,658

 
$
557,251

Interest expense
79,877

 
68,956

 
59,777

 
54,185

Net interest income
734,981

 
625,390

 
505,881

 
503,066

Provision for credit losses
74,906

 
63,805

 
24,509

 
27,582

Noninterest income
334,337

 
302,415

 
271,112

 
241,867

Noninterest expense
681,497

 
712,247

 
523,661

 
491,080

Income before income taxes
312,915

 
151,753

 
228,823

 
226,271

Provision for income taxes
73,952

 
24,749

 
54,283

 
54,957

Net income
238,963

 
127,004

 
174,540

 
171,314

Dividends on preferred shares
18,865

 
18,537

 
19,874

 
7,998

Net income applicable to common shares
$
220,098

 
$
108,467

 
$
154,666

 
$
163,316

Net income per common share — Basic
$
0.20

 
$
0.12

 
$
0.19

 
$
0.21

Net income per common share — Diluted
0.20

 
0.11

 
0.19

 
0.20

 
 
 
 
 
 
 
 
 
 
Three months ended
 
December 31,
 
September 30,
 
June 30,
 
March 31,
(dollar amounts in thousands, except per share data)
2015
 
2015
 
2015
 
2015
Interest income
$
544,153

 
$
538,477

 
$
529,795

 
$
502,096

Interest expense
47,242

 
43,022

 
39,109

 
34,411

Net interest income
496,911

 
495,455

 
490,686

 
467,685

Provision for credit losses
36,468

 
22,476

 
20,419

 
20,591

Noninterest income
272,215

 
253,119

 
281,773

 
231,623

Noninterest expense
498,766

 
526,508

 
491,777

 
458,857

Income before income taxes
233,892

 
199,590

 
260,263

 
219,860

Provision for income taxes
55,583

 
47,002

 
64,057

 
54,006

Net income
178,309

 
152,588

 
196,206

 
165,854

Dividends on preferred shares
7,972

 
7,968

 
7,968

 
7,965

Net income applicable to common shares
$
170,337

 
$
144,620

 
$
188,238

 
$
157,889

Net income per common share — Basic
$
0.21

 
$
0.18

 
$
0.23

 
$
0.19

Net income per common share — Diluted
0.21

 
0.18

 
0.23

 
0.19