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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Acquisition-related costs $ 1,142 $ 2,148
INTEREST INCOME:    
Loans receivable 118,926 115,455
Mortgage-backed securities 9,137 10,507
Securities and cash equivalents 3,602 4,034
Total interest income 131,665 129,996
INTEREST EXPENSE:    
Deposits 8,750 8,643
FHLB advances 2,064 3,476
Other borrowings 116 60
Junior subordinated debentures 1,477 1,713
Total interest expense 12,407 13,892
Net interest income 119,258 116,104
Provision for losses on real estate held for sale 21,748 2,000
PROVISION FOR CREDIT LOSSES 21,713 2,000
Net interest income after provision for credit losses 97,510 114,104
NON-INTEREST INCOME:    
Deposit fees and other service charges 9,803 12,618
Fees and Commissions, Mortgage Banking and Servicing 10,191 3,415
Bank-owned life insurance (BOLI) 1,050 1,276
Miscellaneous 2,639 804
Other operating income 23,683 18,113
Net gain on sale of securities 78 1
Net change in valuation of financial instruments carried at fair value (4,596) 11
Total non-interest income 19,165 18,125
NON-INTEREST EXPENSE:    
Salary and employee benefits 59,908 54,640
Less capitalized loan origination costs (5,806) (4,849)
Occupancy and equipment 13,107 13,766
Information/computer data services 5,810 5,326
Payment and card processing expenses 4,240 3,984
Professional and legal expenses 1,919 2,434
Advertising and marketing 1,827 1,529
Deposit insurance expense 1,635 1,418
State/municipal business and use taxes 984 945
REO operations, net 100 (123)
Amortization of core deposit intangibles 2,001 2,052
Miscellaneous 6,357 6,744
Total non-interest expense 95,185 90,014
Noninterest Operating Expense, Before Acquisition Related Costs 93,804 87,866
COVID-19 Expenses 239 0
Income before provision for income taxes 21,490 42,215
PROVISION FOR INCOME TAXES 4,608 8,869
NET INCOME $ 16,882 $ 33,346
Earnings per common share:    
Basic $ 0.48 $ 0.95
Diluted 0.47 0.95
Cumulative dividends declared per common share $ 0.41 $ 0.41
Weighted average number of common shares outstanding, Basic 35,463,541 35,050,376
Weighted average number of common shares outstanding, Diluted 35,640,463 35,172,056