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Consolidated Statements of Income (Loss) - Unaudited - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Loans and leases $ 200,457 $ 233,097 $ 526,573 $ 538,822
Investment securities 30,546 8,905 76,283 25,211
Other 4,913 849 12,870 2,814
Total interest income 235,916 242,851 615,726 566,847
Interest expense:        
Deposits 65,380 15,915 101,873 47,226
FHLB advances 4,684 5 7,000 6,160
Subordinated debt 2,689 2,689 8,067 8,067
FRB PPP liquidity facility, federal funds purchased and other borrowings 4,131 4,350 10,203 14,014
Total interest expense 76,884 22,959 127,143 75,467
Net interest income 159,032 219,892 488,583 491,380
Provision (benefit) for credit losses (7,994) 13,164 31,850 13,536
Net interest income after provision (benefit) for credit losses 167,026 206,728 456,733 477,844
Non-interest income:        
Commercial lease income 7,097 5,213 19,584 15,729
Bank-owned life insurance 3,449 1,988 13,722 6,432
Mortgage warehouse transactional fees 1,545 3,100 5,443 10,612
Gain (loss) on sale of SBA and other loans 106 5,359 3,155 8,834
Loss on sale of consumer installment loans (23,465) 0 (23,465) 0
Loan fees 3,008 1,909 8,171 5,015
Mortgage banking income 125 425 779 1,274
Gain (loss) on sale of investment securities (2,135) 6,063 (6,227) 31,441
Unrealized gain (loss) on investment securities (259) 0 (738) 2,720
Loss on sale of foreign subsidiaries 0 0 0 (2,840)
Unrealized gain (loss) on derivatives 563 524 2,348 2,622
Loss on cash flow hedge derivative terminations 0 0 0 (24,467)
Other (112) (72) (910) 504
Total non-interest income (9,017) 25,586 24,927 60,876
Non-interest expense:        
Salaries and employee benefits 31,230 26,268 83,171 78,262
Technology, communication and bank operations 19,588 21,281 66,394 60,887
Professional services 6,269 6,871 20,640 19,630
Occupancy 2,605 2,704 9,934 7,807
Commercial lease depreciation 5,966 4,493 16,460 13,199
FDIC assessments, non-income taxes and regulatory fees 2,528 2,313 6,530 7,634
Loan servicing 3,851 4,265 10,563 6,402
Advertising and promotion 762 302 1,430 1,176
Merger and acquisition related expenses 0 0 0 418
Loan workout 217 198 358 39
Deposit relationship adjustment fees 0 6,216 0 6,216
Other 3,182 5,098 10,730 11,089
Total non-interest expense 76,198 80,009 226,210 212,759
Income before income tax expense 81,811 152,305 255,450 325,961
Income tax expense 17,899 36,263 56,127 73,947
Net income from continuing operations 63,912 116,042 199,323 252,014
Loss from discontinued operations before income taxes 0 0 0 (20,354)
Income tax expense from discontinued operations 0 0 0 17,682
Net loss from discontinued operations 0 0 0 (38,036)
Net income 63,912 116,042 199,323 213,978
Preferred stock dividends 2,548 2,981 6,544 9,671
Loss on redemption of preferred stock 0 2,820 0 2,820
Net income available to common shareholders 61,364 110,241 192,779 201,487
Net income available to common shareholders $ 61,364 $ 110,241 $ 192,779 $ 201,487
Basic earnings per common share from continuing operations (usd per share) $ 1.89 $ 3.40 $ 5.89 $ 7.44
Basic earnings per common share (usd per share) 1.89 3.40 5.89 6.26
Diluted earnings per common share from continuing operations (usd per share) 1.85 3.25 5.72 7.15
Diluted earnings per common share (usd per share) $ 1.85 $ 3.25 $ 5.72 $ 6.02
Interchange and card revenue        
Non-interest income:        
Non-interest income $ 72 $ 83 $ 172 $ 252
Deposit fees        
Non-interest income:        
Non-interest income $ 989 $ 994 $ 2,893 $ 2,748