XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Real estate secured loans $ 62,016 $ 54,441
Commercial loans 26,143 18,672
Consumer loans 3,492 4,172
Available for sale debt securities, equity securities and Federal Home Loan Bank stock 5,612 7,069
Held to maturity debt securities 2,784 2,940
Deposits, Federal funds sold and other short-term investments 484 875
Total interest income 100,531 88,169
Interest expense:    
Deposits 7,417 10,958
Borrowed funds 2,809 5,190
Subordinated debt 305 0
Total interest expense 10,531 16,148
Net interest income 90,000 72,021
Provision (benefit) charge for credit losses (15,001) 14,717
Net interest income after provision for credit losses 105,001 57,304
Non-interest income:    
Fees 7,192 6,529
Wealth management income 7,134 6,251
Insurance agency income 2,727 0
Bank-owned life insurance 2,567 787
Net gains on securities transactions 197 11
Other income 1,820 3,413
Total non-interest income 21,637 16,991
Non-interest expense:    
Compensation and employee benefits 35,312 31,195
Net occupancy expense 9,301 6,203
Data processing expense 4,393 4,430
FDIC insurance 1,770 0
Amortization of intangibles 972 744
Advertising and promotion expense 877 1,369
Credit loss (benefit) expense for off-balance sheet credit exposures (875) 1,000
Other operating expenses 10,103 9,166
Total non-interest expense 61,853 54,107
Income before income tax expense 64,785 20,188
Income tax expense 16,226 5,257
Net income $ 48,559 $ 14,931
Basic earnings per share (usd per share) $ 0.63 $ 0.23
Weighted average basic shares outstanding (in shares) 76,516,543 64,386,138
Diluted earnings per share (usd per share) $ 0.63 $ 0.23
Weighted average diluted shares outstanding (in shares) 76,580,862 64,457,263