XML 13 R3.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans and leases $ 310,392 $ 346,550 $ 1,150,049 $ 907,595
Investment securities 45,326 53,135 133,716 159,459
Deposits in financial institutions 90,366 10,359 219,995 16,412
Total interest income 446,084 410,044 1,503,760 1,083,466
Interest expense:        
Deposits 205,982 61,288 540,663 82,858
Borrowings 94,234 3,081 324,270 5,683
Subordinated debt 15,139 10,494 42,750 27,102
Total interest expense 315,355 74,863 907,683 115,643
Net interest income 130,729 335,181 596,077 967,823
Provision for credit losses 0 3,000 5,000 14,500
Net interest income after provision for credit losses 130,729 332,181 591,077 953,323
Noninterest income:        
Leased equipment income 14,554 12,835 50,798 38,264
Other commissions and fees 7,641 10,034 29,226 32,427
Service charges on deposit accounts 4,018 3,608 11,906 10,813
(Loss) gain on sale of loans and leases (1,901) 58 (157,820) 130
Gain (loss) on sale of securities 0 86 0 (1,019)
Dividends and gains (losses) on equity investments 3,837 3,228 7,593 (4,050)
Warrant (loss) income (88) 292 (545) 2,536
LOCOM HFS Adjustment 307 0 (11,636) 0
Other income 15,440 8,478 22,595 14,682
Total noninterest income (loss) 43,808 38,619 (47,883) 93,783
Noninterest expense:        
Compensation 71,642 105,933 242,999 300,715
Occupancy 15,293 15,574 45,743 46,042
Lease Equipment Depreciation 8,333 8,908 26,796 27,031
Data processing 11,104 9,568 33,005 28,455
Other professional services 5,597 10,674 21,643 23,354
Federal Deposit Insurance Corporation Premium Expense 38,298 7,159 75,650 18,281
Customer related expense 26,971 12,673 78,278 37,076
Loan expense 4,243 6,228 16,012 18,422
Intangible asset amortization 2,389 3,649 7,189 10,947
Acquisition, integration and reorganization costs 9,925 0 30,833 0
Goodwill impairment 0 0 1,376,736 0
Foreclosed assets income, net (609) (248) (244) (3,629)
Other expense 7,917 15,500 139,903 39,995
Total noninterest expense 201,103 195,618 2,094,543 546,689
(Loss) earnings before income taxes (26,566) 175,182 (1,551,349) 500,417
Income tax (benefit) expense 3,222 (43,566) 135,167 (126,313)
Net (loss) earnings (23,344) 131,616 (1,416,182) 374,104
Preferred Stock Dividends, Income Statement Impact 9,947 9,392 29,841 9,392
Net Income (Loss) Available to Common Stockholders, Diluted (33,291) 122,224 (1,446,023) 364,712
Net Income (Loss) Available to Common Stockholders, Basic $ (33,291) $ 122,224 $ (1,446,023) $ 364,712
(Loss) earnings per common share:        
Basic (usd per share) $ (0.28) $ 1.02 $ (12.23) $ 3.04
Diluted (usd per share) $ (0.28) $ 1.02 $ (12.23) $ 3.04