Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and fee income:      
Loans and leases $ 2,838,000 $ 2,178,000 $ 1,760,000
Available-for-sale and other securities      
Taxable 303,000 223,000 202,000
Tax-exempt 77,000 59,000 42,000
Held-to-maturity securities 193,000 138,000 87,000
Other 22,000 34,000 24,000
Total interest income 3,433,000 2,632,000 2,115,000
Interest expense      
Deposits 180,000 102,000 82,000
Short-term borrowings 25,000 5,000 2,000
Federal Home Loan Bank advances 0 0 1,000
Subordinated notes and other long-term debt 226,000 156,000 79,000
Total interest expense 431,000 263,000 164,000
Net interest income 3,002,000 2,369,000 1,951,000
Provision for credit losses 201,000 191,000 100,000
Net interest income after provision for credit losses 2,801,000 2,178,000 1,851,000
Service charges on deposit accounts 353,000 324,000 280,000
Cards and payment processing income 206,000 169,000 143,000
Fees and Commissions, Fiduciary and Trust Activities 156,000 123,000 116,000
Mortgage banking income 131,000 128,000 112,000
Insurance income 81,000 84,000 81,000
Capital markets fees 76,000 60,000 54,000
Bank owned life insurance income 67,000 58,000 52,000
Gain on sale of loans 56,000 47,000 33,000
Net gains on sales of securities 0 2,000 3,000
Impairment losses recognized in earnings on available-for-sale securities (4,000) (2,000) (2,000)
Other Income 185,000 157,000 167,000
Total noninterest income 1,307,000 1,150,000 1,039,000
Personnel costs 1,524,000 1,349,000 1,122,000
Outside data processing and other services 313,000 305,000 231,000
Net occupancy 212,000 153,000 122,000
Equipment 171,000 165,000 125,000
Deposit and other insurance expense 78,000 54,000 45,000
Professional services 69,000 105,000 50,000
Marketing 60,000 63,000 52,000
Amortization of intangibles 56,000 30,000 28,000
Other expense 231,000 184,000 201,000
Total noninterest expense 2,714,000 2,408,000 1,976,000
Income before income taxes 1,394,000 920,000 914,000
Provision for income taxes 208,000 208,000 221,000
Net income 1,186,000 712,000 693,000
Dividends on preferred shares 76,000 65,000 32,000
Net income available to common shareholders $ 1,110,000 $ 647,000 $ 661,000
Average common shares—basic (in shares) 1,084,686 904,438 803,412
Average common shares—diluted (in shares) 1,136,186 918,790 817,129
Per common share:      
Net income - basic (in USD per share) $ 1.02 $ 0.72 $ 0.82
Net income - diluted (in USD per share) 1.00 0.70 0.81
Cash dividends declared, prior period (in USD per share) $ 0.35 $ 0.29 $ 0.25
Impairment losses on available-for-sale securities:      
Total OTTI losses $ (4,000) $ (6,000) $ (3,000)
Noncredit-related portion of loss recognized in other comprehensive income 0 4,000 1,000
Impairment losses recognized in earnings on available-for-sale securities $ (4,000) $ (2,000) $ (2,000)