XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans $ 247,595 $ 329,842 $ 531,220 $ 642,545
Investment securities 2,024 2,260 4,207 3,720
Federal funds sold and securities purchased under resale agreements 77 157 691 536
Interest-bearing deposits in other banks 2,314 14,634 21,900 25,653
Total interest income 252,010 346,893 558,018 672,454
Interest expense        
Deposits 32,294 72,529 94,468 141,583
Federal funds purchased 176 5,202 845 8,718
Other borrowings 4,569 20,124 14,151 31,978
Subordinated notes 4,191 4,191 8,382 8,382
Trust preferred subordinated debentures 852 1,294 1,925 2,626
Total interest expense 42,082 103,340 119,771 193,287
Net interest income 209,928 243,553 438,247 479,167
Provision for credit losses 100,000 27,000 196,000 47,000
Net interest income after provision for credit losses 109,928 216,553 242,247 432,167
Non-interest income        
Service charges on deposit accounts 2,459 2,849 5,752 5,828
Wealth management and trust fee income 2,348 2,129 4,815 4,138
Brokered loan fees 10,764 7,336 18,779 12,402
Servicing income 6,120 3,126 10,866 5,860
Swap fees 1,468 601 4,225 1,632
Net gain/(loss) on sale of loans held for sale 39,023 (5,986) 26,023 (6,491)
Other 8,320 14,309 11,822 31,009
Total non-interest income 70,502 24,364 82,282 54,378
Non-interest expense        
Salaries and employee benefits 100,791 77,757 177,984 157,513
Net occupancy expense 9,134 7,910 17,846 15,789
Marketing 7,988 14,087 16,510 25,795
Legal and professional 11,330 10,004 28,796 20,034
Communications and technology 42,760 11,022 56,551 20,220
FDIC insurance assessment 7,140 4,138 12,989 9,260
Servicing-related expenses 20,117 6,066 36,471 11,448
Merger-related expenses 10,486 0 17,756 0
Other 12,606 10,734 22,866 23,175
Total non-interest expense 222,352 141,718 387,769 283,234
Income/(loss) before income taxes (41,922) 99,199 (63,240) 203,311
Income tax expense/(benefit) (7,606) 21,387 (12,237) 43,798
Net income/(loss) (34,316) 77,812 (51,003) 159,513
Preferred stock dividends 2,437 2,437 4,875 4,875
Net income/(loss) available to common stockholders (36,753) 75,375 (55,878) 154,638
Other comprehensive income/(loss)        
Change in unrealized gain/(loss) on available-for-sale debt securities arising during period, before tax (5,435) 9,921 (10,727) 9,868
Income tax expense/(benefit) related to unrealized loss on available-for-sale debt securities (1,142) 2,083 (2,253) 2,073
Other comprehensive income/(loss), net of tax (4,293) 7,838 (8,474) 7,795
Comprehensive income/(loss) $ (38,609) $ 85,650 $ (59,477) $ 167,308
Basic earnings/(loss) per common share        
Basic earnings/(loss) per common share $ (0.73) $ 1.50 $ (1.11) $ 3.07
Diluted earnings/(loss) per common share        
Diluted earnings/(loss) per common share $ (0.73) $ 1.50 $ (1.11) $ 3.07