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Consolidated Statements of Income (Loss) - Unaudited - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans and leases $ 118,447 $ 103,567 $ 234,527 $ 196,683
Investment securities 6,155 6,481 11,132 12,722
Other 616 1,902 4,902 3,620
Total interest income 125,218 111,950 250,561 213,025
Interest expense:        
Deposits 23,238 35,980 57,591 67,204
FHLB advances 4,736 7,607 10,127 12,900
Subordinated debt 2,689 1,684 5,378 3,369
Federal funds purchased and other borrowings 2,573 2,000 4,163 5,569
Total interest expense 33,236 47,271 77,259 89,042
Net interest income 91,982 64,679 173,302 123,983
Provision for credit losses on loans and leases 20,946 5,346 52,732 10,113
Net interest income after provision for credit losses on loans and leases 71,036 59,333 120,570 113,870
Non-interest income:        
Non-interest income 11,195 11,243 22,749 23,591
Commercial lease income 4,508 2,730 8,776 5,131
Bank-owned life insurance 1,757 1,836 3,519 3,653
Mortgage warehouse transactional fees 2,582 1,681 4,533 2,995
Gain (loss) on sale of SBA and other loans 23 0 34 0
Mortgage banking income 38 250 334 417
Loss upon acquisition of interest-only GNMA securities 0 (7,476) 0 (7,476)
Gain (loss) on sale of investment securities 4,353 0 8,328 0
Unrealized gain (loss) on investment securities 1,200 (347) (178) (345)
Other (2,024) 3,254 (1,248) 6,257
Total non-interest income 22,236 12,036 44,167 31,754
Non-interest expense:        
Salaries and employee benefits 31,296 26,920 59,607 52,743
Technology, communication and bank operations 13,310 12,402 26,360 24,355
Professional services 4,552 5,718 12,223 10,291
Occupancy 3,025 3,064 6,057 5,967
Commercial lease depreciation 3,643 2,252 7,070 4,174
FDIC assessments, non-income taxes, and regulatory fees 2,368 2,157 5,235 4,145
Provision for operating losses 1,068 2,446 1,980 4,225
Advertising and promotion 582 1,360 2,222 2,169
Merger and acquisition related expenses 25 0 75 0
Loan workout 1,808 643 2,175 963
Other real estate owned 12 (14) 20 43
Other 1,817 2,634 6,941 4,491
Total non-interest expense 63,506 59,582 129,965 113,566
Income before income tax expense 29,766 11,787 34,772 32,058
Income tax expense 7,048 2,491 8,955 7,323
Net income 22,718 9,296 25,817 24,735
Preferred stock dividends 3,581 3,615 7,196 7,229
Net income (loss) available to common shareholders $ 19,137 $ 5,681 $ 18,621 $ 17,506
Basic earnings (loss) per common share (usd per share) $ 0.61 $ 0.18 $ 0.59 $ 0.56
Diluted earnings (loss) per common share (usd per share) $ 0.61 $ 0.18 $ 0.59 $ 0.55
Interchange and card revenue        
Non-interest income:        
Non-interest income $ 6,478 $ 6,760 $ 13,287 $ 15,565
Deposit fees        
Non-interest income:        
Non-interest income $ 3,321 $ 3,348 $ 6,782 $ 5,557