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Consolidated Statements of Income (Loss) - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans and leases $ 157,175 $ 152,117
Investment securities 20,295 7,979
Other 6,006 1,019
Total interest income 183,476 161,115
Interest expense:    
Deposits 13,712 15,658
FHLB advances 0 5,192
Subordinated debt 2,689 2,689
FRB PPP liquidity facility, federal funds purchased and other borrowings 2,376 4,845
Total interest expense 18,777 28,384
Net interest income 164,699 132,731
Provision (benefit) for credit losses 15,997 (2,919)
Net interest income after provision (benefit) for credit losses 148,702 135,650
Non-interest income:    
Commercial lease income 5,895 5,205
Bank-owned life insurance 8,326 1,679
Mortgage warehouse transactional fees 2,015 4,247
Gain (loss) on sale of SBA and other loans 1,507 1,575
Loan fees 2,545 1,436
Mortgage banking income 481 463
Gain (loss) on sale of investment securities (1,063) 23,566
Unrealized gain (loss) on investment securities (276) 974
Unrealized gain (loss) on derivatives 964 2,537
Loss on cash flow hedge derivative terminations 0 (24,467)
Other (212) 305
Total non-interest income 21,198 18,468
Non-interest expense:    
Salaries and employee benefits 26,607 23,971
Technology, communication and bank operations 24,068 19,988
Professional services 6,956 5,877
Occupancy 3,050 2,621
Commercial lease depreciation 4,942 4,291
FDIC assessments, non-income taxes and regulatory fees 2,383 2,719
Loan servicing 2,371 437
Advertising and promotion 315 561
Merger and acquisition related expenses 0 418
Loan workout (38) (261)
Other 3,153 1,305
Total non-interest expense 73,807 61,927
Income before income tax expense 96,093 92,191
Income tax expense 19,332 17,560
Net income from continuing operations 76,761 74,631
Loss from discontinued operations before income taxes 0 (20,354)
Income tax expense from discontinued operations 0 17,682
Net loss from discontinued operations 0 (38,036)
Net income 76,761 36,595
Preferred stock dividends 1,865 3,391
Net income available to common shareholders $ 74,896 $ 33,204
Basic earnings per common share from continuing operations (usd per share) $ 2.27 $ 2.23
Basic earnings per common share (usd per share) 2.27 1.04
Diluted earnings per common share from continuing operations (usd per share) 2.18 2.17
Diluted earnings per common share (usd per share) $ 2.18 $ 1.01
Interchange and card revenue    
Non-interest income:    
Non-interest income $ 76 $ 85
Deposit fees    
Non-interest income:    
Non-interest income $ 940 $ 863