XML 19 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INTEREST INCOME:      
Mortgage and other loans $ 1,472,020 $ 1,441,462 $ 1,414,884
Securities and money market investments 202,849 250,122 268,183
Total interest income 1,674,869 1,691,584 1,683,067
INTEREST EXPENSE:      
NOW and money market accounts 62,166 46,467 39,508
Savings accounts 31,982 50,776 35,727
Certificates of deposit 76,875 62,906 74,511
Borrowed funds 216,464 1,123,360 392,968
Total interest expense 387,487 1,283,509 542,714
Net interest income 1,287,382 408,075 1,140,353
Provision for (recovery of) losses 4,180 (15,004) (18,587)
Net interest income after provision for (recoveries of) loan losses 1,283,202 423,079 1,158,940
NON-INTEREST INCOME:      
Mortgage banking income 27,281 54,113 62,953
Fee income 32,665 34,058 36,585
Bank-owned life insurance 31,015 27,541 27,150
Net gain (loss) on sales of loans 15,806 26,133 (223)
Net gain on sales of securities 3,347 4,054 14,029
FDIC indemnification expense (6,155) (9,336) (14,870)
Other 41,613 74,200 75,969
Total non-interest income [1] 145,572 210,763 201,593
Operating expenses:      
Compensation and benefits 351,436 342,624 306,848
Occupancy and equipment 98,543 102,435 99,016
General and administrative 188,130 170,541 173,306
Total operating expenses 638,109 615,600 579,170
Amortization of core deposit intangibles 2,391 5,344 8,297
Debt repositioning charge   141,209  
Merger-related expenses 11,146 3,702  
Total non-interest expense [2] 651,646 765,855 587,467
Income (loss) before income taxes 777,128 (132,013) 773,066
Income tax expense (benefit) 281,727 (84,857) 287,669
Net (Loss) income 495,401 (47,156) 485,397
Other comprehensive income (loss), net of tax:      
Change in net unrealized gain (loss) on securities available for sale, net of tax of $1,560; $437; and $4,343, respectively (2,207) 475 6,407
Change in the non-credit portion of OTTI losses recognized in other comprehensive income (loss), net of tax of $49; $44; and $142, respectively 77 69 217
Change in pension and post-retirement obligations, net of tax of $2,924; $1,161; and $14,992, respectively 4,015 (1,445) (22,123)
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $1,127; $306; and $2,492, respectively (1,577) (434) (3,694)
Total other comprehensive income (loss), net of tax 308 (1,335) (19,193)
Total comprehensive income (loss), net of tax $ 495,709 $ (48,491) $ 466,204
Basic earnings (loss) per share $ 1.01 $ (0.11) $ 1.09
Diluted earnings (loss) per share $ 1.01 $ (0.11) $ 1.09
Non-Covered Loans      
INTEREST EXPENSE:      
Provision for (recovery of) losses $ 11,874 $ (3,334)  
Covered Loans      
INTEREST EXPENSE:      
Provision for (recovery of) losses $ (7,694) $ (11,670) $ (18,587)
[1] Includes ancillary fee income.
[2] Includes both direct and indirect expenses.