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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest Income:    
Mortgage and other loans $ 355,917 $ 358,402
Securities and money market investments 48,408 40,717
Total interest income 404,325 399,119
Interest Expense:    
Interest-bearing checking and money market accounts 34,369 19,709
Savings accounts 7,221 6,810
Certificates of deposit 30,515 22,131
Borrowed funds 61,922 55,552
Total interest expense 134,027 104,202
Net interest income 270,298 294,917
Net interest income after provision for (recovery of) loan losses 260,727 298,925
Non-Interest Income:    
Fee income 7,327 7,860
Bank-owned life insurance 6,804 6,337
Mortgage banking income   9,764
Net (loss) gain on securities (466) 1,979
FDIC indemnification expense   (4,636)
Other 9,192 10,868
Total non-interest income 22,857 32,172
Operating expenses:    
Compensation and benefits 83,975 96,206
Occupancy and equipment 24,884 25,059
General and administrative 30,248 45,524
Total operating expenses 139,107 166,789
Amortization of core deposit intangibles   154
Total non-interest expense 139,107 166,943
Income before income taxes 144,477 164,154
Income tax expense 37,925 60,197
Net (Loss) income 106,552 103,957
Preferred stock dividends 8,207  
Net income available to common shareholders $ 98,345 $ 103,957
Basic earnings per common share $ 0.20 $ 0.21
Diluted earnings per common share $ 0.20 $ 0.21
Net income $ 106,552 $ 103,957
Other comprehensive (loss) income, net of tax:    
Change in net unrealized gain/loss on securities available for sale, net of tax of $24,607 and $(353), respectively (31,138) 495
Change in the non-credit portion of OTTI losses recognized in other comprehensive income, net of tax of $(821) and $(13), respectively (821) 19
Change in pension and post-retirement obligations, net of tax of $(10,517) and $(872), respectively (8,656) 1,218
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $770   (1,078)
Total other comprehensive (loss) income, net of tax (40,615) 654
Total comprehensive income, net of tax 65,937 104,611
Non-Covered Loans    
Interest Expense:    
Provision for (recovery of) losses $ 9,571 1,787 [1]
Covered Loans    
Interest Expense:    
Provision for (recovery of) losses   $ (5,795)
[1] Represents allowance for losses on non-covered loans, excluding PCI loans.