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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans, including fees $ 369,323 $ 384,275 $ 1,113,102 $ 1,213,609
Investment securities available for sale 35,876 43,196 98,631 139,784
Loans held for sale 5,540 6,341 18,611 9,047
Federal Reserve Bank balances 1,214 285 2,597 2,187
Other earning assets 551 1,453 2,123 6,389
Total interest income 412,504 435,550 1,235,064 1,371,016
Interest expense:        
Deposits 16,086 43,194 60,475 185,670
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings 36 176 104 7,885
Long-term debt 11,465 15,190 33,851 50,645
Total interest expense 27,587 58,560 94,430 244,200
Net interest income 384,917 376,990 1,140,634 1,126,816
(Reversal of) provision for credit losses (7,868) 43,383 (51,041) 343,956
Net interest income after (reversal of) provision for credit losses 392,785 333,607 1,191,675 782,860
Non-interest revenue:        
Service charges on deposit accounts 22,641 17,813 64,089 54,069
Fiduciary and asset management fees 19,786 15,885 56,545 46,009
Card fees 13,238 10,823 38,538 30,959
Brokerage revenue 14,745 10,604 41,644 32,987
Mortgage banking income 11,155 31,229 47,312 66,987
Capital markets income 8,089 5,690 18,929 22,984
Income from bank-owned life insurance 6,820 7,778 22,851 21,572
Investment securities gains (losses), net 962 (1,550) (1,028) 76,594
Other non-interest revenue 17,519 16,139 44,117 39,591
Total non-interest revenue 114,955 114,411 332,997 391,752
Non-interest expense:        
Salaries and other personnel expense 160,364 154,994 482,408 464,268
Net occupancy, equipment, and software expense 43,483 41,554 126,442 125,475
Third-party processing and other services 19,446 21,827 63,897 67,193
Professional fees 6,739 13,377 23,771 39,358
FDIC insurance and other regulatory fees 5,212 6,793 16,338 18,922
Goodwill impairment 0 44,877 0 44,877
Other operating expenses 31,788 33,233 91,841 116,983
Total non-interest expense 267,032 316,655 804,697 877,076
Income before income taxes 240,708 131,363 719,975 297,536
Income tax expense 53,935 39,789 159,910 74,250
Net income 186,773 91,574 560,065 223,286
Less: Preferred stock dividends 8,291 8,291 24,872 24,872
Net income available to common shareholders $ 178,482 $ 83,283 $ 535,193 $ 198,414
Net income per common share, basic (in dollars per share) $ 1.22 $ 0.57 $ 3.63 $ 1.35
Net income per common share, diluted (in dollars per share) $ 1.21 $ 0.56 $ 3.59 $ 1.34
Weighted average common shares outstanding, basic (in shares) 146,308 147,314 147,622 147,304
Weighted average common shares outstanding, diluted (in shares) 147,701 147,976 149,069 148,037