Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.7.0.1
Condensed 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
Interest and fee income:        
Loans and leases $ 699,838 $ 469,770 $ 1,375,772 $ 933,192
Available-for-sale and other securities        
Taxable 78,292 40,992 154,577 80,606
Tax-exempt 18,695 13,795 37,382 26,814
Held-to-maturity securities—taxable 44,276 35,420 89,471 72,209
Other 5,323 5,681 9,582 10,088
Total interest income 846,424 565,658 1,666,784 1,122,909
Interest expense:        
Deposits 42,287 22,324 77,077 45,342
Short-term borrowings 5,203 913 11,069 1,811
Federal Home Loan Bank advances 66 72 132 141
Subordinated notes and other long-term debt 54,356 36,468 104,019 66,668
Total interest expense 101,912 59,777 192,297 113,962
Net interest income 744,512 505,881 1,474,487 1,008,947
Provision for credit losses 24,978 24,509 92,616 52,091
Net interest income after provision for credit losses 719,534 481,372 1,381,871 956,856
Service charges on deposit accounts 87,582 75,613 171,002 145,875
Cards and payment processing income 52,485 39,184 99,654 75,631
Mortgage banking income 32,268 31,591 63,960 50,134
Trust and investment management services 32,232 22,497 66,101 45,335
Insurance income 15,843 15,947 31,107 32,172
Brokerage income 16,294 14,599 32,052 30,101
Capital markets fees 16,836 13,037 31,036 26,047
Bank owned life insurance income 15,322 12,536 32,864 26,049
Gain on sale of loans 12,002 9,265 24,824 14,660
Net gains on sales of securities 3,694 732 3,710 732
Other noninterest income 44,219 36,187 84,954 66,319
Total noninterest income 325,218 271,112 637,681 512,979
Personnel costs 391,997 298,949 773,997 584,346
Outside data processing and other services 75,169 63,037 162,371 124,915
Equipment 42,924 31,805 89,624 64,381
Net occupancy 52,613 30,704 120,313 62,180
Professional services 18,190 21,488 36,485 35,026
Marketing 18,843 14,773 32,766 27,041
Deposit and other insurance expense 20,418 12,187 40,517 23,395
Amortization of intangibles 14,242 3,600 28,597 7,312
Other noninterest expense 59,968 47,118 117,116 86,145
Total noninterest expense 694,364 523,661 1,401,786 1,014,741
Income before income taxes 350,388 228,823 617,766 455,094
Provision for income taxes 78,647 54,283 137,931 109,240
Net income 271,741 174,540 479,835 345,854
Dividends on preferred shares 18,889 19,874 37,767 27,872
Net income applicable to common shares $ 252,852 $ 154,666 $ 442,068 $ 317,982
Average common shares—basic (in shares) 1,088,934 798,167 1,087,654 796,961
Average common shares—diluted (in shares) 1,108,527 810,371 1,108,572 809,360
Per common share:        
Net income—basic (in usd per share) $ 0.23 $ 0.19 $ 0.41 $ 0.40
Net income—diluted (in usd per share) 0.23 0.19 0.40 0.39
Cash dividends declared (in usd per share) $ 0.08 $ 0.07 $ 0.16 $ 0.14
OTTI losses for the periods presented:        
Total OTTI losses $ (3,563) $ (76) $ (3,589) $ (3,809)
Noncredit-related portion of loss recognized in OCI 4 0 6 3,733
Impairment losses recognized in earnings on available-for-sale securities $ (3,559) $ (76) $ (3,583) $ (76)