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Condensed Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans and leases $ 408,972 $ 293,286 $ 839,657 $ 561,045
Investment securities 44,153 52,902 88,390 106,324
Deposits in financial institutions 86,763 4,330 129,629 6,053
Total interest income 539,888 350,518 1,057,676 673,422
Interest expense:        
Deposits 178,789 15,362 334,681 21,570
Borrowings 160,914 2,441 230,036 2,602
Subordinated debt 14,109 8,790 27,611 16,608
Total interest expense 353,812 26,593 592,328 40,780
Net interest income 186,076 323,925 465,348 632,642
Provision for credit losses 2,000 11,500 5,000 11,500
Net interest income after provision for credit losses 184,076 312,425 460,348 621,142
Noninterest income:        
Leased equipment income 22,387 12,335 36,244 25,429
Other commissions and fees 11,241 10,813 21,585 22,393
Service charges on deposit accounts 4,315 3,634 7,888 7,205
(Loss) gain on sale of loans and leases (158,881) 12 (155,919) 72
Loss on sale of securities 0 (1,209) 0 (1,105)
Dividends and gains (losses) on equity investments 2,658 4,097 3,756 (7,278)
Warrant (loss) income (124) 1,615 (457) 2,244
LOCOM HFS Adjustment (11,943) 0 (11,943) 0
Other income 2,265 3,049 7,155 6,204
Total noninterest (loss) income (128,082) 34,346 (91,691) 55,164
Noninterest expense:        
Compensation 82,881 102,542 171,357 194,782
Occupancy 15,383 15,268 30,450 30,468
Leased equipment depreciation 9,088 8,934 18,463 18,123
Data processing 10,963 9,258 21,901 18,887
Other professional services 9,973 6,726 16,046 12,680
Insurance and assessments 25,635 5,632 37,352 11,122
Customer related expense 27,302 11,748 51,307 24,403
Loan expense 5,245 7,037 11,769 12,194
Intangible asset amortization 2,389 3,649 4,800 7,298
Acquisition, integration and reorganization costs 12,394 0 20,908 0
Goodwill impairment 0 0 1,376,736 0
Foreclosed assets expense (income), net 2 (28) 365 (3,381)
Other expense 119,182 12,879 131,986 24,495
Total noninterest expense 320,437 183,645 1,893,440 351,071
(Loss) earnings before income taxes (264,443) 163,126 (1,524,783) 325,235
Income tax (benefit) expense 67,029 (40,766) 131,945 (82,747)
Net (loss) earnings (197,414) 122,360 (1,392,838) 242,488
Preferred Stock Dividends, Income Statement Impact 9,947 0 19,894 0
Net Income (Loss) Available to Common Stockholders, Diluted (207,361) 122,360 (1,412,732) 242,488
Net Income (Loss) Available to Common Stockholders, Basic $ (207,361) $ 122,360 $ (1,412,732) $ 242,488
(Loss) earnings per common share:        
Basic (usd per share) $ (1.75) $ 1.02 $ (11.96) $ 2.03
Diluted (usd per share) $ (1.75) $ 1.02 $ (11.96) $ 2.03