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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income    
Loans and fees on loans $ 84,993 $ 58,961
Investment securities, taxable 2,929 3,762
Other interest earning assets 303 750
Total interest income 88,225 63,473
Interest expense    
Deposits 16,944 23,255
Borrowings 1,331 57
Total interest expense 18,275 23,312
Net interest income 69,950 40,161
(Recovery of) provision for loan and lease credit losses (873) 11,792
Net interest income after (recovery of) provision for loan and lease credit losses 70,823 28,369
Noninterest income    
Loan servicing revenue 6,434 6,422
Loan servicing asset revaluation 1,493 (4,692)
Net gains on sales of loans 11,929 11,112
Net gain (loss) on loans accounted for under the fair value option 4,218 (10,638)
Equity method investments income (loss) (1,157) (2,478)
Equity security investments gains (losses), net 105 (64)
Loss on sale of investment securities available-for-sale, net   (79)
Lease income 2,599 2,624
Management fee income 1,934 1,644
Other noninterest income 3,502 1,891
Total noninterest income 31,057 5,742
Noninterest expense    
Salaries and employee benefits 31,366 28,063
Travel expense 659 1,781
Professional services expense 3,831 1,937
Advertising and marketing expense 652 1,361
Occupancy expense 2,112 2,421
Data processing expense 3,894 3,157
Equipment expense 4,354 4,635
Other loan origination and maintenance expense 3,327 2,456
Renewable energy tax credit investment impairment 3,127  
FDIC insurance 1,765 1,510
Other expense 3,185 2,170
Total noninterest expense 58,272 49,491
Income (loss) before taxes 43,608 (15,380)
Income tax expense (benefit) 4,181 (7,778)
Net income (loss) $ 39,427 $ (7,602)
Basic earnings (loss) per share $ 0.92 $ (0.19)
Diluted earnings (loss) per share $ 0.88 $ (0.19)