XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest Income:    
Mortgage and other loans $ 379,790 $ 355,917
Securities and money market investments 66,384 48,408
Total interest income 446,174 404,325
Interest Expense:    
Interest-bearing checking and money market accounts 50,159 34,369
Savings accounts 8,083 7,221
Certificates of deposit 67,775 30,515
Borrowed funds 78,832 61,922
Total interest expense 204,849 134,027
Net interest income 241,325 270,298
(Recovery of) provision for losses on loans (1,222) 9,571
Net interest income after (recovery of) provision for loan losses 242,547 260,727
Non-Interest Income:    
Fee income 7,228 7,327
Bank-owned life insurance 6,975 6,804
Net gain (loss) on securities 6,987 (466)
Other 3,595 9,192
Total non-interest income 24,785 22,857
Operating expenses:    
Compensation and benefits 81,440 83,975
Occupancy and equipment 22,962 24,884
General and administrative 34,365 30,248
Total non-interest expense 138,767 139,107
Income before income taxes 128,565 144,477
Income tax expense 30,988 37,925
Net income 97,577 106,552
Preferred stock dividends 8,207 8,207
Net income available to common shareholders $ 89,370 $ 98,345
Basic earnings per common share $ 0.19 $ 0.20
Diluted earnings per common share $ 0.19 $ 0.20
Net income $ 97,577 $ 106,552
Other comprehensive income (loss), net of tax:    
Change in net unrealized gain (loss) on securities available for sale, net of tax of $(12,868) and $24,607, respectively 32,755 (31,138)
Change in the non-credit portion of OTTI losses recognized in other comprehensive income (loss), net of tax of $0 and $(821), respectively   (821)
Change in pension and post-retirement obligations, net of tax of $(711) and $10,517, respectively 1,820 (8,656)
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $1,517. (3,892)  
Total other comprehensive income (loss), net of tax 30,683 (40,615)
Total comprehensive income, net of tax $ 128,260 $ 65,937