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Consolidated Statements of Operations - 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 and dividend income          
Loans, including fees $ 63,642 $ 65,534 $ 89,159 $ 129,176 $ 179,717
Securities 7,816 7,820 12,457 15,636 30,298
Other interest-earning assets 1,239 1,360 2,424 2,599 4,737
Total interest and dividend income 72,697 74,714 104,040 147,411 214,752
Interest expense          
Deposits 10,205 14,611 28,598 24,816 60,041
Federal Home Loan Bank advances 4,818 5,883 8,289 10,701 17,370
Securities sold under repurchase agreements 2 0 16 2 34
Long-term debt and other interest-bearing liabilities 2,357 2,359 2,357 4,716 4,719
Total interest expense 17,382 22,853 39,260 40,235 82,164
Net interest income 55,315 51,861 64,780 107,176 132,588
Provision for (reversal of) credit losses 11,826 15,761 (1,900) 27,587 198
Net interest income after provision for (reversal of) credit losses 43,489 36,100 66,680 79,589 132,390
Noninterest income          
Customer service fees 1,224 1,096 1,434 2,320 2,949
Loan servicing income 95 75 121 170 239
Income from bank owned life insurance 591 578 580 1,169 1,105
Net gain on sale of securities available-for-sale 2,011 0 0 2,011 208
Fair value adjustment for loans held-for-sale 25 (1,586) 59 (1,561) 60
Net (loss) gain on sale of loans 0 (27) 2,767 (27) 4,319
Other income (loss) 1,582 1,925 (7,251) 3,507 (4,875)
Total noninterest income (loss) 5,528 2,061 (2,290) 7,589 4,005
Noninterest expense          
Salaries and employee benefits 24,260 23,436 27,506 47,696 55,945
Write-off of other assets related to naming rights termination, net 26,769 0 0 26,769 0
Occupancy and equipment 7,090 7,243 7,955 14,333 15,641
Professional fees 4,596 5,964 (2,903) 10,560 8,138
Data processing 1,536 1,773 1,672 3,309 3,168
Advertising and promotion 1,157 1,756 2,048 2,913 4,105
Regulatory assessments 725 484 2,136 1,209 4,618
(Gain) loss on investments in alternative energy partnerships (167) 1,905 (355) 1,738 1,595
Reversal of provision for loan repurchases (34) (600) (61) (634) (177)
Amortization of intangible assets 430 429 621 859 1,241
Restructuring (reversal) expense 0 0 (158) 0 2,637
All other expense 6,408 4,529 5,039 10,937 8,838
Total noninterest expense 72,770 46,919 43,500 119,689 105,749
(Loss) income from operations before income taxes (23,753) (8,758) 20,890 (32,511) 30,646
Income tax (benefit) expense (5,304) (2,165) 4,308 (7,469) 7,027
Net (loss) income (18,449) (6,593) 16,582 (25,042) 23,619
Preferred stock dividends 3,442 3,533 4,308 6,975 8,616
Income allocated to participating securities 0 0 271 0 153
Participating securities dividends 94 94 94 188 295
Impact of preferred stock redemption (49) (526) 0 (575) 0
Net (loss) income available to common stockholders (21,936) $ (9,694) 11,909 (31,630) 14,555
Voting          
Noninterest expense          
Preferred stock dividends 3,409   4,268 6,909 8,535
Income allocated to participating securities     268   152
Participating securities dividends 93   $ 93 186 $ 292
Impact of preferred stock redemption $ (49)     $ (570)  
(Loss) earnings per common share:          
Basic (in usd per share) $ (0.44) $ (0.19) $ 0.23 $ (0.63) $ 0.29
Diluted (loss) earnings per common share          
Diluted (in usd per share) $ (0.44) (0.19) $ 0.23 $ (0.63) $ 0.29
Class B Common Stock          
Noninterest expense          
Preferred stock dividends $ 33   $ 40 $ 66 $ 81
Income allocated to participating securities     3   1
Participating securities dividends 1   $ 1 2 $ 3
Impact of preferred stock redemption $ 0     $ (5)  
(Loss) earnings per common share:          
Basic (in usd per share) $ (0.44) (0.19) $ 0.23 $ (0.63) $ 0.29
Diluted (loss) earnings per common share          
Diluted (in usd per share) $ (0.44) $ (0.19) $ 0.23 $ (0.63) $ 0.29