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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans receivable $ 97,475 $ 107,241 $ 295,048 $ 305,226
Mortgage-backed securities 5,840 4,652 15,720 12,865
Taxable investment securities 649 427 1,976 1,514
Tax-free investment securities 628 655 1,797 1,404
FHLB stock dividends 71 218 325 789
Interest-earning deposits 352 221 727 541
Total interest income 105,015 113,414 315,593 322,339
Interest expense:        
Deposits 4,540 8,443 14,827 29,182
Borrowed funds 2,056 1,437 6,160 4,317
Total interest expense 6,596 9,880 20,987 33,499
Net interest income 98,419 103,534 294,606 288,840
Provision for credit losses (4,354) 6,818 (9,974) 86,205
Net interest income after provision for credit losses 102,773 96,716 304,580 202,635
Noninterest income:        
Gain/(loss) on sale of investments (46) (12) (172) 161
Gain on sale of loans 0 0 0 1,302
Service charges and fees 13,199 14,354 38,337 42,539
Trust and other financial services income 7,182 5,376 21,101 15,200
Insurance commission income 44 2,331 3,633 7,098
Gain/(loss) on real estate owned, net 247 (32) 371 (220)
Income from bank-owned life insurance 1,332 1,576 4,707 3,860
Mortgage banking income 3,941 11,055 13,772 24,271
Gain on sale of insurance business 0 0 25,327 0
Other operating income 3,287 2,022 8,771 5,931
Total noninterest income 29,186 36,670 115,847 100,142
Noninterest expense:        
Compensation and employee benefits 49,063 47,371 145,196 130,166
Premises and occupancy costs 7,745 8,342 23,969 23,008
Office operations 4,143 4,626 10,625 11,719
Collections expense 411 1,264 1,330 2,382
Processing expenses 13,517 15,042 42,124 37,864
Marketing expenses 2,102 2,147 6,183 5,701
Federal deposit insurance premiums 1,184 1,498 3,844 3,116
Professional services 4,295 3,246 13,108 8,883
Amortization of intangible assets 1,321 1,781 4,348 5,192
Real estate owned expense 94 111 254 295
Merger, asset disposition and restructuring expense 0 1,414 641 13,551
Other expenses 2,227 27 7,003 12,766
Total noninterest expense 86,102 86,869 258,625 254,643
Income before income taxes 45,857 46,517 161,802 48,134
Federal and state income taxes expense 10,794 8,467 37,535 8,345
Net income $ 35,063 $ 38,050 $ 124,267 $ 39,789
Basic earnings per share (in dollars per share) $ 0.28 $ 0.30 $ 0.98 $ 0.34
Diluted earnings per share (in dollars per share) $ 0.27 $ 0.30 $ 0.97 $ 0.34