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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Loans and fees on loans $ 84,780 $ 62,022 $ 169,773 $ 120,983
Investment securities, taxable 2,975 3,786 5,904 7,548
Other interest earning assets 244 1,009 547 1,759
Total interest income 87,999 66,817 176,224 130,290
Interest expense        
Deposits 14,820 25,121 31,764 48,376
Borrowings 1,717 798 3,048 855
Total interest expense 16,537 25,919 34,812 49,231
Net interest income 71,462 40,898 141,412 81,059
Provision for loan and lease credit losses 7,846 9,958 6,973 21,750
Net interest income after provision for loan and lease credit losses 63,616 30,940 134,439 59,309
Noninterest income        
Loan servicing revenue 6,218 6,691 12,652 13,113
Loan servicing asset revaluation (3,181) (1,571) (1,688) (6,263)
Net gains on sales of loans 16,234 10,695 28,163 21,807
Net gain (loss) on loans accounted for under the fair value option 1,135 (1,089) 5,353 (11,727)
Equity method investments income (loss) (2,278) (2,243) (3,435) (4,721)
Equity security investments gains (losses), net 44,253 161 44,358 97
Gain on sale of investment securities available-for-sale, net   734   655
Lease income 2,616 2,635 5,215 5,259
Management fee income 1,473 1,206 3,407 2,850
Other noninterest income 3,641 5,192 7,143 7,083
Total noninterest income 70,111 22,411 101,168 28,153
Noninterest expense        
Salaries and employee benefits 32,900 30,782 64,266 58,845
Travel expense 1,549 364 2,208 2,145
Professional services expense 3,329 1,385 7,160 3,322
Advertising and marketing expense 875 624 1,527 1,985
Occupancy expense 2,224 1,955 4,336 4,376
Data processing expense 4,234 2,764 8,128 5,921
Equipment expense 4,385 4,652 8,739 9,287
Other loan origination and maintenance expense 3,307 2,492 6,634 4,948
Renewable energy tax credit investment impairment     3,127  
FDIC insurance 1,704 1,721 3,469 3,231
Other expense 3,051 1,361 6,236 3,531
Total noninterest expense 57,558 48,100 115,830 97,591
Income (loss) before taxes 76,169 5,251 119,777 (10,129)
Income tax expense (benefit) 12,587 1,474 16,768 (6,304)
Net income (loss) $ 63,582 $ 3,777 $ 103,009 $ (3,825)
Basic earnings (loss) per share $ 1.48 $ 0.09 $ 2.40 $ (0.10)
Diluted earnings (loss) per share $ 1.41 $ 0.09 $ 2.29 $ (0.10)