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Consolidated Statements of Income (Loss) - Unaudited - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans and leases $ 168,941 $ 153,608 $ 326,116 $ 305,725
Investment securities 25,442 8,327 45,737 16,306
Other 1,951 946 7,957 1,965
Total interest income 196,334 162,881 379,810 323,996
Interest expense:        
Deposits 22,781 15,653 36,493 31,311
FHLB advances 2,316 963 2,316 6,155
Subordinated debt 2,689 2,689 5,378 5,378
FRB PPP liquidity facility, federal funds purchased and other borrowings 3,696 4,819 6,072 9,664
Total interest expense 31,482 24,124 50,259 52,508
Net interest income 164,852 138,757 329,551 271,488
Provision for credit losses 23,847 3,291 39,844 372
Net interest income after provision for credit losses 141,005 135,466 289,707 271,116
Non-interest income:        
Commercial lease income 6,592 5,311 12,487 10,516
Bank-owned life insurance 1,947 2,765 10,273 4,444
Mortgage warehouse transactional fees 1,883 3,265 3,898 7,512
Gain (loss) on sale of SBA and other loans 1,542 1,900 3,049 3,475
Loan fees 2,618 1,670 5,163 3,106
Mortgage banking income 173 386 654 849
Gain (loss) on sale of investment securities (3,029) 1,812 (4,092) 25,378
Unrealized gain (loss) on investment securities (203) 1,746 (479) 2,720
Loss on sale of foreign subsidiaries 0 (2,840) 0 (2,840)
Unrealized gain (loss) on derivatives 821 (439) 1,785 2,098
Loss on cash flow hedge derivative terminations 0 0 0 (24,467)
Other (586) 271 (798) 576
Total non-interest income 12,746 16,822 33,944 35,290
Non-interest expense:        
Salaries and employee benefits 25,334 28,023 51,941 51,994
Technology, communication and bank operations 22,738 19,618 46,806 39,606
Professional services 7,415 6,882 14,371 12,759
Occupancy 4,279 2,482 7,329 5,103
Commercial lease depreciation 5,552 4,415 10,494 8,706
FDIC assessments, non-income taxes and regulatory fees 1,619 2,602 4,002 5,321
Loan servicing 4,341 1,700 6,712 2,137
Advertising and promotion 353 313 668 874
Merger and acquisition related expenses 0 0 0 418
Loan workout 179 102 141 (159)
Other 4,395 4,686 7,548 5,991
Total non-interest expense 76,205 70,823 150,012 132,750
Income before income tax expense 77,546 81,465 173,639 173,656
Income tax expense 18,896 20,124 38,228 37,684
Net income from continuing operations 58,650 61,341 135,411 135,972
Loss from discontinued operations before income taxes 0 0 0 (20,354)
Income tax expense from discontinued operations 0 0 0 17,682
Net loss from discontinued operations 0 0 0 (38,036)
Net income 58,650 61,341 135,411 97,936
Preferred stock dividends 2,131 3,299 3,996 6,690
Net income available to common shareholders $ 56,519 $ 58,042 $ 131,415 $ 91,246
Basic earnings per common share from continuing operations (usd per share) $ 1.73 $ 1.80 $ 4.00 $ 4.03
Basic earnings per common share (usd per share) 1.73 1.80 4.00 2.84
Diluted earnings per common share from continuing operations (usd per share) 1.68 1.72 3.87 3.88
Diluted earnings per common share (usd per share) $ 1.68 $ 1.72 $ 3.87 $ 2.74
Interchange and card revenue        
Non-interest income:        
Non-interest income $ 24 $ 84 $ 100 $ 169
Deposit fees        
Non-interest income:        
Non-interest income $ 964 $ 891 $ 1,904 $ 1,754