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CONSOLIDATED STATEMENTS OF INCOME (LOSS) — UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans and leases $ 246,869 $ 224,265 $ 477,877 $ 442,264
Investment securities 37,381 47,586 71,720 94,388
Interest earning deposits 39,972 45,506 82,886 98,323
Loans held for sale 1,806 13,671 6,567 25,719
Other 1,973 3,010 3,860 5,121
Total interest income 328,001 334,038 642,910 665,815
Interest expense:        
Deposits 134,045 148,784 265,353 302,509
FHLB advances 12,717 13,437 24,518 26,922
Subordinated debt 3,229 2,734 6,441 5,423
Other borrowings 1,307 1,430 2,449 2,923
Total interest expense 151,298 166,385 298,761 337,777
Net interest income 176,703 167,653 344,149 328,038
Provision for credit losses 20,781 18,121 49,078 35,191
Net interest income after provision for credit losses 155,922 149,532 295,071 292,847
Non-interest income:        
Commercial lease income 11,056 10,282 21,724 19,965
Loan fees 9,106 5,233 16,341 10,513
Bank-owned life insurance 2,249 2,007 6,909 5,268
Mortgage finance transactional fees 1,175 1,058 2,108 2,004
Net gain (loss) on sale of loans and leases 0 (238) 2 (228)
Net (gain) loss on sale of investment securities (1,797) (719) (1,797) (749)
Impairment loss on debt securities 0 0 (51,319) 0
Unrealized gain on equity method investments 0 11,041 0 11,041
Other 7,817 2,373 11,148 4,454
Total non-interest income 29,606 31,037 5,116 52,268
Non-interest expense:        
Salaries and employee benefits 45,848 44,947 88,522 80,972
Technology, communication and bank operations 10,382 16,227 21,694 38,131
Commercial lease depreciation 8,743 7,829 17,206 15,799
Professional services 13,850 6,104 25,707 12,457
Loan servicing 4,053 3,516 8,683 7,547
Occupancy 3,551 3,120 6,963 5,467
FDIC assessments, non-income taxes and regulatory fees 11,906 10,236 23,656 23,705
Advertising and promotion 461 1,254 989 1,936
Other 7,832 10,219 15,977 16,607
Total non-interest expense 106,626 103,452 209,397 202,621
Income before income tax expense 78,902 77,117 90,790 142,494
Income tax expense 17,963 19,032 16,939 34,683
Net income 60,939 58,085 73,851 107,811
Preferred stock dividends 3,185 3,785 6,574 7,585
Loss on redemption of preferred stock 1,908 0 1,908 0
Net income available to common shareholders, basic 55,846 54,300 65,369 100,226
Net income available to common shareholders, diluted $ 55,846 $ 54,300 $ 65,369 $ 100,226
Basic earnings per common share (usd per share) $ 1.77 $ 1.72 $ 2.07 $ 3.18
Diluted earnings per common share (usd per share) $ 1.73 $ 1.66 $ 2.02 $ 3.06