XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME:        
Loans receivable $ 99,853 $ 94,795 $ 193,875 $ 186,083
Mortgage-backed securities 8,899 6,239 16,230 10,886
Securities and cash equivalents 3,671 3,402 7,138 6,563
Total interest income 112,423 104,436 217,243 203,532
INTEREST EXPENSE:        
Deposits 4,264 3,182 7,622 5,973
FHLB advances 1,499 301 2,177 574
Other borrowings 49 83 119 157
Junior subordinated debentures 1,548 1,164 2,889 2,268
Total interest expense 7,360 4,730 12,807 8,972
Net interest income 105,063 99,706 204,436 194,560
PROVISION FOR LOAN LOSSES 2,000 2,000 4,000 4,000
Net interest income after provision for loan losses 103,063 97,706 200,436 190,560
NON-INTEREST INCOME:        
Deposit fees and other service charges 11,985 11,165 23,281 21,553
Mortgage banking operations 4,643 6,754 9,507 11,357
Bank-owned life insurance (BOLI) 933 1,461 1,785 2,556
Miscellaneous 3,388 1,720 4,426 5,356
Other operating income 20,949 21,100 38,999 40,822
Net gain (loss) on sale of securities 44 (54) 48 (41)
Net change in valuation of financial instruments carried at fair value 224 (650) 3,532 (1,338)
Total non-interest income 21,217 20,396 42,579 39,443
NON-INTEREST EXPENSE:        
Salary and employee benefits 51,494 49,019 101,561 95,083
Less capitalized loan origination costs (4,733) (4,598) (8,744) (8,914)
Occupancy and equipment 11,574 12,045 23,340 24,041
Information/computer data services 4,564 4,100 8,945 8,094
Payment and card processing expenses 3,731 3,719 7,431 6,942
Professional services 3,838 3,732 8,266 8,885
Advertising and marketing 2,141 1,766 3,971 3,095
Deposit insurance 1,021 1,071 2,362 2,337
State/municipal business and use taxes 816 279 1,529 1,078
REO operations (319) (363) 121 (1,329)
Amortization of core deposit intangibles 1,382 1,624 2,764 3,248
Miscellaneous 7,128 7,463 12,797 13,577
Total non-interest expense 82,637 79,857 164,343 156,137
Income before provision for income taxes 41,643 38,245 78,672 73,866
PROVISION FOR INCOME TAXES 9,219 12,791 17,458 24,619
NET INCOME $ 32,424 $ 25,454 $ 61,214 $ 49,247
Earnings per common share:        
Basic $ 1.01 $ 0.77 $ 1.89 $ 1.49
Diluted 1.00 0.77 1.89 1.49
Cumulative dividends declared per common share $ 0.85 $ 1.25 $ 1.20 $ 1.50
Weighted average number of common shares outstanding, Basic 32,250,514 32,982,126 32,323,635 32,957,920
Weighted average number of common shares outstanding, Diluted 32,331,609 33,051,527 32,422,287 33,052,205