Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Segment Reporting Information

The following table presents the Company’s operating segments. The accounting policies of the segments are the same as those described in the “Summary of Significant Accounting Policies” in Note 1 of the Company’s 2019 Form 10-K. Transactions between segments consist primarily of borrowed funds. Intersegment interest expense is allocated to the Factoring segment based on Federal Home Loan Bank advance rates. Credit loss expense is allocated based on the segment’s allowance for credit losses determination. Noninterest income and expense directly attributable to a segment are assigned to it. Taxes are paid on a consolidated basis but not allocated for segment purposes. The Factoring segment includes only factoring originated by TBC. General factoring services not originated through TBC are included in the Banking segment.


(Dollars in thousands)
Three months ended September 30, 2020	Banking		Factoring		Corporate		Consolidated
Total interest income	$	52,288	$	30,068	$	8	$	82,364
Intersegment interest allocations	3,312		(3,312)		—		—
Total interest expense	6,176		—		1,809		7,985
Net interest income (expense)	49,424		26,756		(1,801)		74,379
Credit loss expense (benefit)	(3,417)		3,053		106		(258)
Net interest income after credit loss expense	52,841		23,703		(1,907)		74,637
Other noninterest income	7,490		3,157		(154)		10,493
Noninterest expense	40,584		13,665		1,048		55,297
Operating income (loss)	$	19,747	$	13,195	$	(3,109)	$	29,833


(Dollars in thousands)
Three months ended September 30, 2019	Banking		Factoring		Corporate		Consolidated
Total interest income	$	54,266	$	24,869	$	280	$	79,415
Intersegment interest allocations	2,918		(2,918)		—		—
Total interest expense	13,091		—		1,559		14,650
Net interest income (expense)	44,093		21,951		(1,279)		64,765
Credit loss expense	2,019		846		—		2,865
Net interest income after credit loss expense	42,074		21,105		(1,279)		61,900
Noninterest income	6,401		1,291		50		7,742
Noninterest expense	38,371		12,792		990		52,153
Operating income (loss)	$	10,104	$	9,604	$	(2,219)	$	17,489


(Dollars in thousands)
Nine months ended September 30, 2020	Banking		Factoring		Corporate		Consolidated
Total interest income	$	157,957	$	73,952	$	267	$	232,176
Intersegment interest allocations	8,873		(8,873)		—		—
Total interest expense	25,368		—		5,678		31,046
Net interest income (expense)	141,462		65,079		(5,411)		201,130
Credit loss expense	27,378		4,437		1,834		33,649
Net interest income after credit loss expense	114,084		60,642		(7,245)		167,481
Gain on sale of subsidiary or division	9,758		—		—		9,758
Other noninterest income	22,586		5,524		131		28,241
Noninterest expense	122,001		37,695		3,080		162,776
Operating income (loss)	$	24,427	$	28,471	$	(10,194)	$	42,704


(Dollars in thousands)
Nine months ended September 30, 2019	Banking		Factoring		Corporate		Consolidated
Total interest income	$	155,645	$	73,435	$	902	$	229,982
Intersegment interest allocations	8,188		(8,188)		—		—
Total interest expense	35,746		—		4,741		40,487
Net interest income (expense)	128,087		65,247		(3,839)		189,495
Credit loss expense (benefit)	5,847		1,789		(76)		7,560
Net interest income after credit loss expense	122,240		63,458		(3,763)		181,935
Noninterest income	19,150		3,572		181		22,903
Noninterest expense	109,406		39,340		2,677		151,423
Operating income (loss)	$	31,984	$	27,690	$	(6,259)	$	53,415


(Dollars in thousands)
September 30, 2020	Banking		Factoring		Corporate		Eliminations		Consolidated
Total assets	$	5,767,857	$	1,042,571	$	828,065	$	(1,801,706)	$	5,836,787
Gross loans	$	4,759,135	$	948,987	$	800	$	(856,011)	$	4,852,911


(Dollars in thousands)
December 31, 2019	Banking		Factoring		Corporate		Eliminations		Consolidated
Total assets	$	4,976,009	$	662,002	$	771,048	$	(1,348,762)	$	5,060,297
Gross loans	$	4,108,735	$	573,372	$	1,519	$	(489,114)	$	4,194,512