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CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Interest and fees on loans $ 237,179 $ 329,344 $ 768,399 $ 971,889
Investment securities 3,674 2,316 7,881 6,036
Federal funds sold and securities purchased under resale agreements 1 554 692 1,090
Interest-bearing deposits in other banks 2,877 22,887 24,777 48,540
Total interest income 243,731 355,101 801,749 1,027,555
Interest expense        
Deposits 27,830 80,967 122,298 222,550
Federal funds purchased 128 1,835 973 10,553
Other borrowings 3,365 14,703 17,516 46,681
Subordinated notes 4,191 4,191 12,573 12,573
Trust preferred subordinated debentures 648 1,237 2,573 3,863
Total interest expense 36,162 102,933 155,933 296,220
Net interest income 207,569 252,168 645,816 731,335
Provision for credit losses 30,000 11,000 226,000 58,000
Net interest income after provision for credit losses 177,569 241,168 419,816 673,335
Non-interest income        
Service charges on deposit accounts 2,864 2,707 8,616 8,535
Wealth management and trust fee income 2,502 2,330 7,317 6,468
Brokered loan fees 15,034 8,691 33,813 21,093
Servicing income 7,329 3,549 18,195 9,409
Swap fees 484 1,196 4,709 2,828
Net gain/(loss) on sale of loans held for sale 25,242 (6,011) 51,265 (12,502)
Other 6,893 7,839 18,715 38,848
Total non-interest income 60,348 20,301 142,630 74,679
Non-interest expense        
Salaries and employee benefits 84,096 80,722 262,080 238,235
Net occupancy expense 8,736 8,125 26,582 23,914
Marketing 3,636 14,753 20,146 40,548
Legal and professional 11,207 11,394 40,003 31,428
Communications and technology 31,098 10,805 87,649 31,025
FDIC insurance assessment 6,374 5,220 19,363 14,480
Servicing-related expenses 12,287 8,165 48,758 19,613
Merger-related expenses 0 0 17,756 0
Other 8,307 10,245 31,173 33,420
Total non-interest expense 165,741 149,429 553,510 432,663
Income before income taxes 72,176 112,040 8,936 315,351
Income tax expense 15,060 23,958 2,823 67,756
Net income 57,116 88,082 6,113 247,595
Preferred stock dividends 2,438 2,438 7,313 7,313
Net income/(loss) available to common stockholders 54,678 85,644 (1,200) 240,282
Other comprehensive income/(loss)        
Change in unrealized gain/(loss) on available-for-sale debt securities arising during period, before tax 8,053 884 (2,674) 10,752
Income tax expense/(benefit) related to unrealized loss on available-for-sale debt securities 1,692 186 (561) 2,259
Other comprehensive income/(loss), net of tax 6,361 698 (2,113) 8,493
Comprehensive income $ 63,477 $ 88,780 $ 4,000 $ 256,088
Basic earnings/(loss) per common share        
Basic earnings/(loss) per common share $ 1.08 $ 1.70 $ (0.02) $ 4.78
Diluted earnings/(loss) per common share        
Diluted earnings/(loss) per common share $ 1.08 $ 1.70 $ (0.02) $ 4.77