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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
INTEREST INCOME:    
Loans receivable $ 100,350 $ 108,924
Mortgage-backed securities 14,109 9,371
Securities and cash equivalents 8,432 6,226
Total interest income 122,891 124,521
INTEREST EXPENSE:    
Deposits 2,086 3,609
FHLB advances 291 934
Other borrowings 84 109
Subordinated debt 1,776 2,208
Total interest expense 4,237 6,860
Net interest income 118,654 117,661
RECAPTURE OF PROVISION FOR CREDIT LOSSES (6,961) (9,251)
Net interest income after recapture of provision for credit losses 125,615 126,912
NON-INTEREST INCOME:    
Deposit fees and other service charges 11,189 8,939
Mortgage banking operations 4,440 11,347
Bank-owned life insurance (BOLI) 1,631 1,307
Miscellaneous 1,683 2,135
Other operating income 18,943 23,728
Net gain on sale of securities 435 485
Net change in valuation of financial instruments carried at fair value 49 59
Total non-interest income 19,427 24,272
NON-INTEREST EXPENSE:    
Salary and employee benefits 59,486 64,819
Less capitalized loan origination costs (6,230) (9,696)
Occupancy and equipment 13,220 12,989
Information/computer data services 6,651 6,203
Payment and card processing expenses 4,896 4,326
Professional and legal expenses 2,180 3,328
Advertising and marketing 461 1,263
Deposit insurance 1,524 1,533
State/municipal business and use taxes 1,162 1,065
REO operations, net (79) (242)
Amortization of core deposit intangibles 1,424 1,711
Loss on extinguishment of debt 793 0
Miscellaneous 5,707 5,509
Noninterest Operating Expense, Before COVID-19 and Acquisition Related Costs 91,195 92,808
COVID-19 Expenses 0 148
Merger and acquisition - related expenses 0 571
Total non-interest expense 91,195 93,527
Income before provision for income taxes 53,847 57,657
PROVISION FOR INCOME TAXES 9,884 10,802
NET INCOME $ 43,963 $ 46,855
Earnings per common share:    
Basic $ 1.28 $ 1.34
Diluted 1.27 1.33
Cumulative dividends declared per common share $ 0.44 $ 0.41
Weighted average number of common shares outstanding, Basic 34,300,742 34,973,383
Weighted average number of common shares outstanding, Diluted 34,598,436 35,303,483