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Condensed Consolidated Statements of Earnings - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:          
Loans and leases $ 362,303,000 $ 346,103,000 $ 388,853,000 $ 708,406,000 $ 774,318,000
Investment securities 37,616,000 37,862,000 33,836,000 75,478,000 68,139,000
Deposits in financial institutions 20,590,000 22,690,000 39,900,000 43,280,000 98,836,000
Total interest income 420,509,000 406,655,000 462,589,000 827,164,000 941,293,000
Interest expense:          
Deposits 144,940,000 140,530,000 186,106,000 285,470,000 380,913,000
Borrowings 20,021,000 18,421,000 30,311,000 38,442,000 68,435,000
Subordinated debt 15,332,000 15,340,000 16,684,000 30,672,000 33,355,000
Total interest expense 180,293,000 174,291,000 233,101,000 354,584,000 482,703,000
Net interest income 240,216,000 232,364,000 229,488,000 472,580,000 458,590,000
Provision for credit losses 39,100,000 9,300,000 11,000,000 48,400,000 21,000,000
credit losses 201,116,000 223,064,000 218,488,000 424,180,000 437,590,000
Noninterest income:          
Leased equipment income 10,231,000 10,784,000 11,487,000 21,015,000 23,203,000
Commissions and fees 9,641,000 9,958,000 8,629,000 19,599,000 16,771,000
Service charges on deposit accounts 4,456,000 4,543,000 4,540,000 8,999,000 9,245,000
Gain on sale of loans and leases 30,000 211,000 1,135,000 241,000 687,000
Loss on sale of securities 0   0    
investments (114,000) 2,323,000 1,166,000 2,209,000 4,234,000
Warrant income (loss) 1,227,000 (295,000) (324,000) 932,000 (146,000)
LOCOM HFS adjustment (9,000) 0 (38,000) (9,000) 292,000
Other income 7,171,000 6,126,000 3,197,000 13,297,000 9,322,000
Total noninterest income 32,633,000 33,650,000 29,792,000 66,283,000 63,608,000
Noninterest expense:          
Compensation 88,362,000 86,417,000 85,914,000 174,779,000 178,150,000
Insurance and assessments 9,403,000 7,283,000 26,431,000 16,686,000 46,892,000
Customer related expense 26,577,000 27,751,000 32,405,000 54,328,000 63,324,000
Occupancy 15,473,000 15,010,000 17,455,000 30,483,000 35,423,000
Information Technology and Data Processing 13,073,000 15,099,000 15,459,000 28,172,000 30,877,000
Leased equipment depreciation 6,700,000 6,741,000 7,511,000 13,441,000 15,031,000
Other professional services 6,406,000 4,513,000 5,183,000 10,919,000 10,258,000
Loan expense 4,050,000 2,930,000 4,332,000 6,980,000 8,823,000
Intangible asset amortization 7,159,000 7,160,000 8,484,000 14,319,000 16,888,000
reorganization costs 0 0 (12,650,000) 0 (12,650,000)
Other expense 8,666,000 [1] 10,749,000 13,119,000 [1] 19,415,000 [1] 21,145,000 [1]
Total noninterest expense 185,869,000 183,653,000 203,643,000 369,522,000 414,161,000
Earnings before income taxes 47,880,000 73,061,000 44,637,000 120,941,000 87,037,000
Income tax expense 19,495,000 19,493,000 14,304,000 38,988,000 25,852,000
Net earnings 28,385,000 [2] 53,568,000 30,333,000 [2] 81,953,000 [2] 61,185,000 [2]
Preferred stock dividends 9,947,000 9,947,000 9,947,000 19,894,000 19,894,000
Net earnings (loss) available to common and equivalent stockholders, basic 18,438,000 43,621,000 20,386,000 $ 62,059,000 $ 41,291,000
Net earnings (loss) available to common and equivalent stockholders, diluted $ 18,438,000 $ 43,621,000 $ 20,386,000    
Earnings (loss) per share:          
Basic (usd per share) $ 0.12 $ 0.26 $ 0.12 $ 0.38 $ 0.25
Diluted (usd per share) $ 0.12 $ 0.26 $ 0.12 $ 0.38 $ 0.25
[1] Includes business development expense, communications expense, stationery and supplies, employee related expenses, operating and other losses, OREO expenses, and other corporate overhead and operating expenses.
[2] Segment earnings is the same as net earnings reported on the condensed consolidated statements of earnings.