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Consolidated Statements of Changes in Shareholders' Equity - Unaudited - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning balance, preferred stock (shares) at Dec. 31, 2020   9,000,000          
Beginning balance at Dec. 31, 2020 $ 1,117,086 $ 217,471 $ 32,986 $ 455,592 $ 438,581 $ (5,764) $ (21,780)
Beginning balance, common stock (shares) at Dec. 31, 2020     31,705,088        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 213,978       213,978    
Other comprehensive income (loss) 7,252         7,252  
Preferred stock dividends [1] (9,671)       (9,671)    
Redemption of preferred stock (shares)   (3,300,000)          
Redemption of preferred stock (79,677) $ (79,677)          
Loss on Redemption of Preferred Stock (2,820)       (2,820)    
Sale of non-controlling interest in BMT [2] 31,893     31,893      
Distribution of investment in BM Technologies [3] (32,983)       (32,983)    
Restricted stock awards to certain BMT team members [4] 19,592     19,592      
Share-based compensation expense 11,162     11,162      
Issuance of common stock under share-based compensation arrangements (shares)     832,888        
Issuance of common stock under share-based compensation arrangements 8,487   $ 832 7,655      
Ending balance, preferred stock (shares) at Sep. 30, 2021   5,700,000          
Ending balance at Sep. 30, 2021 1,284,299 $ 137,794 $ 33,818 525,894 607,085 1,488 (21,780)
Ending balance, common stock (shares) at Sep. 30, 2021     32,537,976        
Beginning balance, preferred stock (shares) at Jun. 30, 2021   9,000,000          
Beginning balance at Jun. 30, 2021 1,250,729 $ 217,471 $ 33,634 519,294 496,844 5,266 (21,780)
Beginning balance, common stock (shares) at Jun. 30, 2021     32,353,256        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 116,042       116,042    
Other comprehensive income (loss) (3,778)         (3,778)  
Preferred stock dividends [5] (2,981)       (2,981)    
Redemption of preferred stock (shares)   (3,300,000)          
Redemption of preferred stock (79,677) $ (79,677)          
Loss on Redemption of Preferred Stock (2,820)       (2,820)    
Share-based compensation expense 3,289     3,289      
Issuance of common stock under share-based compensation arrangements (shares)     184,720        
Issuance of common stock under share-based compensation arrangements 3,495   $ 184 3,311      
Ending balance, preferred stock (shares) at Sep. 30, 2021   5,700,000          
Ending balance at Sep. 30, 2021 $ 1,284,299 $ 137,794 $ 33,818 525,894 607,085 1,488 (21,780)
Ending balance, common stock (shares) at Sep. 30, 2021     32,537,976        
Beginning balance, preferred stock (shares) at Dec. 31, 2021 5,700,000 5,700,000          
Beginning balance at Dec. 31, 2021 $ 1,366,217 $ 137,794 $ 34,722 542,391 705,732 (4,980) (49,442)
Beginning balance, common stock (shares) at Dec. 31, 2021 32,913,267   32,913,267        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 199,323       199,323    
Other comprehensive income (loss) (151,146)         (151,146)  
Preferred stock dividends [1] (6,544)       (6,544)    
Share-based compensation expense 10,657     10,657      
Issuance of common stock under share-based compensation arrangements (shares)     226,380        
Issuance of common stock under share-based compensation arrangements $ (3,756)   $ 226 (3,982)      
Repurchase of common shares (in shares) (664,145)   (664,145)        
Repurchase of common shares $ (27,820)           (27,820)
Ending balance, preferred stock (shares) at Sep. 30, 2022 5,700,000 5,700,000          
Ending balance at Sep. 30, 2022 $ 1,386,931 $ 137,794 $ 34,948 549,066 898,511 (156,126) (77,262)
Ending balance, common stock (shares) at Sep. 30, 2022 32,475,502   32,475,502        
Beginning balance, preferred stock (shares) at Jun. 30, 2022   5,700,000          
Beginning balance at Jun. 30, 2022 $ 1,353,390 $ 137,794 $ 34,922 545,670 837,147 (124,881) (77,262)
Beginning balance, common stock (shares) at Jun. 30, 2022     32,449,486        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 63,912       63,912    
Other comprehensive income (loss) (31,245)         (31,245)  
Preferred stock dividends [5] (2,548)       (2,548)    
Share-based compensation expense 3,336     3,336      
Issuance of common stock under share-based compensation arrangements (shares)     26,016        
Issuance of common stock under share-based compensation arrangements $ 86   $ 26 60      
Ending balance, preferred stock (shares) at Sep. 30, 2022 5,700,000 5,700,000          
Ending balance at Sep. 30, 2022 $ 1,386,931 $ 137,794 $ 34,948 $ 549,066 $ 898,511 $ (156,126) $ (77,262)
Ending balance, common stock (shares) at Sep. 30, 2022 32,475,502   32,475,502        
[1] Dividends per share of $1.160316 and $1.088391 were declared on Series E and F preferred stock, respectively, for the nine months ended September 30, 2022. Dividends per share of $1.041346, $1.075982, $1.142234, and $1.125 were declared on Series C, D, E, and F preferred stock, respectively, for the nine months ended September 30, 2021.(2)Refer to NOTE 12 – SHAREHOLDERS' EQUITY for additional information about the redemption of Series C and Series D Preferred Stock.
[2] Refer to NOTE 3 – DISCONTINUED OPERATIONS for additional information about the sale of non-controlling interest in BMT including the reverse recapitalization of MFAC
[3] Immediately after the closing of the BMT divestiture, Customers distributed all of its remaining investment in BM Technologies' common stock to its shareholders as special dividends, equivalent to 0.15389 of BM Technologies common stock for each share of Customers common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.
[4] At the closing of the BMT divestiture, certain team members of BMT received restricted stock awards in BM Technologies' common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.
[5] Dividends per share of $0.445233 and $0.421083 were declared on Series E and F preferred stock, respectively, for the three months ended September 30, 2022. Dividends per share of $0.346206, $0.332790, $0.335984, and $0.375 were declared on Series C, D, E, and F preferred stock, respectively, for the three months ended September 30, 2021.(2)Refer to NOTE 12 – SHAREHOLDERS' EQUITY for additional information about the redemption of Series C and Series D Preferred Stock.