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CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME          
Loans $ 133,339 $ 113,265 $ 121,860 $ 246,604 $ 243,336
Investment securities and other interest-earning assets 10,783 10,524 10,554 21,307 20,321
Total interest income 144,122 123,789 132,414 267,911 263,657
INTEREST EXPENSE          
Deposits 9,655 10,487 15,991 20,142 29,275
FHLB advances and other borrowings 217 1,081 3,083 1,298 7,885
Subordinated debentures 3,958 3,046 2,699 7,004 4,450
Total interest expense 13,830 14,614 21,773 28,444 41,610
Net interest income before provision for credit losses 130,292 109,175 110,641 239,467 222,047
Provision for credit losses 160,635 25,454 334 186,089 1,860
Net interest (loss) income after provision for credit losses (30,343) 83,721 110,307 53,378 220,187
NONINTEREST INCOME          
Loan servicing fees 434 480 409 914 807
Earnings on bank-owned life insurance 1,314 1,336 851 2,650 1,761
Net (loss) gain from sales of loans (2,032) 771 902 (1,261) 2,631
Net (loss) gain from sales of investment securities (21) 7,760 212 7,739 639
Other income 2,653 1,754 1,001 4,407 2,461
Total noninterest income 6,898 14,475 6,324 21,373 14,005
NONINTEREST EXPENSE          
Compensation and benefits 43,011 34,376 33,847 77,387 67,235
Premises and occupancy 9,487 8,168 7,517 17,655 15,052
Data processing 4,465 3,253 3,036 7,718 5,966
Other real estate owned operations, net 9 14 62 23 65
FDIC insurance premiums 846 367 740 1,213 1,540
Legal, audit and professional expense 3,094 3,126 3,545 6,220 6,543
Marketing expense 1,319 1,412 1,425 2,731 2,922
Office, telecommunications and postage expense 1,533 1,103 1,311 2,636 2,521
Loan expense 823 822 1,005 1,645 1,878
Deposit expense 4,958 4,988 3,668 9,946 7,251
Merger-related expense 39,346 1,724 5 41,070 660
Core deposit intangible (“CDI”) amortization 4,040 3,965 4,281 8,005 8,717
Other expense 3,039 3,313 3,494 6,352 7,163
Total noninterest expense 115,970 66,631 63,936 182,601 127,513
Net (loss) income before income taxes (139,415) 31,565 52,695 (107,850) 106,679
Income tax (benefit) expense (40,324) 5,825 14,168 (34,499) 29,434
Net (loss) income $ (99,091) $ 25,740 $ 38,527 $ (73,351) $ 77,245
Earnings Per Share [Abstract]          
Basic (in dollars per share) $ (1.41) $ 0.43 $ 0.62 $ (1.14) $ 1.24
Diluted (in dollars per share) $ (1.41) $ 0.43 $ 0.62 $ (1.14) $ 1.23
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 70,425,027 59,007,191 61,308,046 64,716,109 61,645,940
Diluted (in shares) 70,425,027 59,189,717 61,661,773 64,716,109 61,980,133
Service charges on deposit accounts          
NONINTEREST INCOME          
Noninterest income $ 1,399 $ 1,715 $ 1,441 $ 3,114 $ 2,771
Other service fee income          
NONINTEREST INCOME          
Noninterest income 297 311 363 608 719
Debit card interchange fee income          
NONINTEREST INCOME          
Noninterest income 457 348 1,145 805 2,216
Trust administrative fees          
NONINTEREST INCOME          
Noninterest income $ 2,397 $ 0 $ 0 $ 2,397 $ 0