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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
INTEREST INCOME:      
Loans receivable $ 445,731 $ 466,360 $ 471,473
Mortgage-backed securities 45,723 31,792 38,640
Securities and cash equivalents 29,046 20,994 15,574
Total interest income 520,500 519,146 525,687
INTEREST EXPENSE:      
Deposits 11,770 25,015 37,630
FHLB advances 2,592 5,023 12,234
Other borrowings 467 603 330
Subordinated debt 8,780 7,204 6,574
Total interest expense 23,609 37,845 56,768
Net interest income 496,891 481,301 468,919
(RECAPTURE)/PROVISION FOR CREDIT LOSSES (33,388) 67,875 10,000
Net interest income after (recapture)/provision for credit losses 530,279 413,426 458,919
NON-INTEREST INCOME      
Deposit fees and other service charges 39,495 34,384 46,632
Mortgage banking operations 33,948 51,083 22,215
Bank Owned Life Insurance Income 5,000 5,972 4,645
Miscellaneous 12,875 6,821 8,624
Other operating income 91,318 98,260 82,116
Net gain on sale of securities 482 1,012 33
Net change in valuation of financial instruments carried at fair value 4,616 (656) (208)
Total non-interest income 96,416 98,616 81,941
NON-INTEREST EXPENSE:      
Salary and employee benefits 244,351 245,400 226,409
Less capitalized loan origination costs (34,401) (34,848) (28,934)
Occupancy and equipment 52,850 53,362 52,390
Information/computer data services 24,356 24,386 22,458
Payment and card processing expenses 20,544 16,095 16,993
Professional and legal expenses 22,274 12,093 9,736
Advertising and marketing 6,036 6,412 7,836
Deposit insurance 5,583 6,516 2,840
State/municipal business and use taxes 4,343 4,355 3,880
REO operations (22) (190) 303
Amortization of core deposit intangibles 6,571 7,732 8,151
Loss on extinguishment of debt 2,284 0 735
Miscellaneous 24,236 22,712 27,387
Total other operating expense, before acquisition related costs 379,005 364,025 350,184
COVID-19 expenses 436 3,502 0
Merger and acquisition - related expenses 660 2,062 7,544
Total non-interest expense 380,101 369,589 357,728
Income before provision for income taxes 246,594 142,453 183,132
PROVISION FOR INCOME TAXES 45,546 26,525 36,854
NET INCOME $ 201,048 $ 115,928 $ 146,278
Earnings per common share      
Basic (in dollars per share) $ 5.81 $ 3.29 $ 4.20
Diluted (in dollars per share) 5.76 3.26 4.18
Cumulative dividends declared per common share (in dollars per share) $ 1.64 $ 1.23 $ 2.64
Weighted average number of common shares outstanding:      
Basic 34,610,056 35,264,252 34,868,434
Diluted 34,919,188 35,528,848 34,967,684