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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Loans, including fees $ 44,433 $ 35,302 $ 125,326 $ 95,749
Investment securities:        
Taxable interest 7,911 10,485 28,594 32,649
Tax-exempt interest 28 43 87 133
Interest earning deposits 106 2,545 1,836 7,502
Total interest income 52,478 48,375 155,843 136,033
Interest expense        
Deposits 1,730 9,034 11,468 26,727
Short-term borrowings 1 1,595 181 2,624
Senior debt 633   633  
Subordinated debentures 118 186 408 573
Total interest expense 2,482 10,815 12,690 29,924
Net interest income 49,996 37,560 143,153 106,109
Provision for credit losses 1,297 650 5,798 2,950
Net interest income after provision for credit losses 48,699 36,910 137,355 103,159
Non-interest income        
Net realized and unrealized gains (losses) on commercial loans originated for sale 684 13,704 (5,412) 24,319
Change in value of investment in unconsolidated entity     (45)  
Leasing related income 1,519 589 2,795 2,311
Other 947 490 1,996 1,379
Total non-interest income 24,352 33,515 61,317 83,629
Non-interest expense        
Salaries and employee benefits 26,417 24,526 74,650 70,192
Depreciation and amortization 785 885 2,457 2,825
Rent and related occupancy cost 1,376 1,432 4,191 4,304
Data processing expense 1,192 1,192 3,538 3,684
Printing and supplies 114 164 440 506
Audit expense 397 402 1,205 1,265
Legal expense 994 1,466 4,136 4,324
Amortization of intangible assets 147 382 441 1,148
FDIC insurance 2,180 860 7,687 4,884
Software 3,595 3,199 10,458 9,180
Insurance 741 663 2,059 1,874
Telecom and IT network communications 392 417 1,186 1,060
Consulting 410 934 1,011 2,576
SEC Settlement   1,400   1,400
Lease termination expense       908
Other 3,286 4,129 9,605 10,669
Total non-interest expense 42,026 42,051 123,064 120,799
Income from continuing operations before income taxes 31,025 28,374 75,608 65,989
Income tax expense 7,894 7,975 19,033 17,585
Net income from continuing operations 23,131 20,399 56,575 48,404
Discontinued operations        
Income (loss) from discontinued operations before income taxes (1,671) 151 (2,720) 1,875
Income tax expense (benefit) (1,794) 125 (2,058) 574
Income (loss) from discontinued operations, net of tax 123 26 (662) 1,301
Net income $ 23,254 $ 20,425 $ 55,913 $ 49,705
Net income per share from continuing operations - basic $ 0.40 $ 0.36 $ 0.98 $ 0.85
Net income (loss) per share from discontinued operations - basic     (0.01) 0.02
Net income per share - basic 0.40 0.36 0.97 0.87
Net income per share from continuing operations - diluted 0.40 0.36 0.97 0.85
Net income (loss) per share from discontinued operations - diluted     (0.01) 0.02
Net income per share - diluted $ 0.40 $ 0.36 $ 0.96 $ 0.87
Service Fees On Deposit Accounts [Member]        
Non-interest income        
Non-interest income $ 8 $ 8 $ 23 $ 69
ACH, Card And Other Payment Processing Fees [Member]        
Non-interest income        
Non-interest income 1,760 2,590 5,313 7,414
Prepaid, Debit Card And Related Fees [Member]        
Non-interest income        
Non-interest income $ 19,434 $ 16,134 $ 56,647 $ 48,137