Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.3.1.900
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and fee income:        
Loans and leases   $ 1,759,525 $ 1,674,563 $ 1,629,939
Available-for-sale and other securities        
Taxable   202,104 171,080 148,557
Tax-exempt   42,014 28,965 12,678
Held-to-maturity securities   86,614 88,724 50,214
Other   24,264 13,130 19,249
Total interest income   2,114,521 1,976,462 1,860,637
Interest expense        
Deposits   82,175 86,453 116,241
Short-term borrowings   1,584 2,940 700
Federal Home Loan Bank advances   586 1,011 1,077
Subordinated notes and other long-term debt   79,439 48,917 38,011
Total interest expense   163,784 139,321 156,029
Net interest income   1,950,737 1,837,141 1,704,608
Provision for credit losses   99,954 80,989 90,045
Net interest income after provision for credit losses   1,850,783 1,756,152 1,614,563
Service charges on deposit accounts   280,349 273,741 271,802
Cards and payment processing income   142,715 105,401 92,591
Mortgage banking income   111,853 84,887 126,855
Trust services   105,833 115,972 123,007
Insurance income   65,264 65,473 69,264
Brokerage income   60,205 68,277 69,624
Capital markets fees   53,616 43,731 45,220
Bank owned life insurance income   52,400 57,048 56,419
Gain on sale of loans   33,037 21,091 18,171
Net gains on sales of securities   3,184 17,554 2,220
Impairment losses recognized in earnings on available-for-sale securities $ 0 (2,440) 0 (1,802)
Other income   132,714 126,004 138,825
Total noninterest income   1,038,730 979,179 1,012,196
Personnel costs   1,122,182 1,048,775 1,001,637
Outside data processing and other services   231,353 212,586 199,547
Equipment   124,957 119,663 106,793
Net occupancy   121,881 128,076 125,344
Marketing   52,213 50,560 51,185
Professional services   50,291 59,555 40,587
Deposit and other insurance expense   44,609 49,044 50,161
Amortization of intangibles   27,867 39,277 41,364
Other expense   200,555 174,810 141,385
Total noninterest expense   1,975,908 1,882,346 1,758,003
Income before income taxes   913,605 852,985 868,756
Provision for income taxes   220,648 220,593 227,474
Net income   692,957 632,392 641,282
Dividends on preferred shares   31,873 31,854 31,869
Net income available to common shareholders $ 600,538 $ 661,084 $ 600,538 $ 609,413
Average common shares—basic (in shares) 819,917 803,412 819,917 834,205
Average common shares—diluted (in shares) 833,081 817,129 833,081 843,974
Per common share:        
Net income - basic (in USD per share) $ 0.73 $ 0.82 $ 0.73 $ 0.73
Net income - diluted (in USD per share) 0.72 0.81 0.72 0.72
Cash dividends declared, prior period (in USD per share) $ 0.21 $ 0.25 $ 0.21 $ 0.19
Impairment losses on available-for-sale securities:        
Total OTTI losses $ 0 $ (3,144)   $ (1,870)
Noncredit-related portion of loss recognized in other comprehensive income 0 704   68
Impairment losses recognized in earnings on available-for-sale securities $ 0 $ (2,440) $ 0 $ (1,802)