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Consolidated Statements of Income - Unaudited - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans receivable, including fees $ 74,238 $ 67,036 $ 141,117 $ 128,497
Loans held for sale 21,002 17,524 40,054 31,470
Investment securities 9,765 7,823 18,437 13,710
Other 2,634 1,469 4,996 3,269
Total interest income 107,639 93,852 204,604 176,946
Interest expense:        
Deposits 24,182 16,228 43,975 30,551
Other borrowings 3,275 1,993 6,651 3,600
FHLB advances 11,176 5,340 18,256 8,401
Subordinated debt 1,684 1,685 3,369 3,370
Total interest expense 40,317 25,246 72,251 45,922
Net interest income 67,322 68,606 132,353 131,024
Provision for loan losses (784) 535 1,333 3,585
Net interest income after provision for loan losses 68,106 68,071 131,020 127,439
Non-interest income:        
Mortgage warehouse transactional fees 1,967 2,523 3,854 4,743
Bank-owned life insurance 1,869 2,258 3,900 3,624
Gain on sale of SBA and other loans 947 573 2,308 1,901
Mortgage banking income 205 291 325 446
Gain on sale of investment securities 0 3,183 0 3,183
Impairment loss on investment securities 0 (2,882) 0 (4,585)
Other 3,125 1,664 6,883 4,414
Total non-interest income 16,127 18,391 37,037 41,144
Non-interest expense:        
Salaries and employee benefits 27,748 23,651 52,673 44,763
Technology, communication and bank operations 11,322 8,910 21,266 18,827
Professional services 3,811 6,227 9,820 13,739
Occupancy 3,141 2,657 5,975 5,371
FDIC assessments, non-income taxes, and regulatory fees 2,135 2,416 4,335 4,141
Provision for operating losses 1,233 1,746 2,759 3,392
Merger and acquisition related expenses 869 0 975 0
Loan workout 648 408 1,307 929
Advertising and promotion 319 378 709 704
Other real estate owned expenses 58 160 98 105
Other 2,466 3,860 6,114 7,807
Total non-interest expense 53,750 50,413 106,031 99,778
Income before income tax expense 30,483 36,049 62,026 68,805
Income tax expense 6,820 12,327 14,222 19,336
Net income (loss) 23,663 23,722 47,804 49,469
Preferred stock dividends 3,615 3,615 7,229 7,229
Net income (loss) available to common shareholders $ 20,048 $ 20,107 $ 40,575 $ 42,240
Basic earnings per common share (usd per share) $ 0.64 $ 0.66 $ 1.29 $ 1.38
Diluted earnings per common share (usd per share) $ 0.62 $ 0.62 $ 1.26 $ 1.29
Interchange and card revenue        
Non-interest income:        
Non-interest income $ 6,382 $ 8,648 $ 16,043 $ 22,158
Deposit Fees        
Non-interest income:        
Non-interest income $ 1,632 $ 2,133 $ 3,724 $ 5,260