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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Interest and fees on loans $ 172,514 $ 160,862 $ 342,495 $ 314,402
Taxable interest and dividends on securities 22,724 24,618 46,097 53,260
Non-taxable interest and dividends on securities 1,439 1,434 2,876 2,868
Interest on federal funds sold and other short-term investments 10,699 14,851 18,519 20,115
Total interest and dividend income 207,376 201,765 409,987 390,645
Interest expense:        
Interest on deposits 78,473 56,146 150,931 99,079
Interest on borrowings 254 4,031 507 11,669
Total interest expense 78,727 60,177 151,438 110,748
Net interest income 128,649 141,588 258,549 279,897
Provision for allowance for loan losses 6,126 7,501 13,577 7,526
Net interest income after provision for allowance for loan losses 122,523 134,087 244,972 272,371
Noninterest income (loss):        
Service charges on deposit accounts 7,930 7,242 15,438 13,714
Trust and investment advisory fees 6,711 6,131 13,255 11,901
Debit card processing fees 3,522 3,513 6,769 6,683
Interest rate swap income 418 825 1,085 417
Income from investments held in rabbi trusts 1,761 3,002 6,079 5,859
Losses on sales of mortgage loans held for sale, net (152) (50) (210) (124)
Losses on sales of securities available for sale, net (7,557) 0 (7,557) (333,170)
Other 12,715 5,541 18,181 11,071
Total noninterest income (loss) 25,348 26,204 53,040 (283,649)
Noninterest expense:        
Salaries and employee benefits 65,218 62,183 129,689 124,366
Office occupancy and equipment 10,109 9,067 19,293 18,156
Data processing 17,990 12,814 34,499 25,112
Professional services 4,250 3,025 7,762 6,152
Marketing expenses 1,910 2,111 3,425 3,134
FDIC insurance 4,508 3,034 6,793 5,580
Amortization of intangible assets 504 504 1,008 795
Other 5,380 7,196 8,602 12,530
Total noninterest expense 109,869 99,934 211,071 195,825
Income (loss) from continuing operations before income tax expense (benefit) 38,002 60,357 86,941 (207,103)
Income tax expense (benefit) 11,671 15,938 21,963 (49,441)
Net income (loss) from continuing operations 26,331 44,419 64,978 (157,662)
Net income from discontinued operations 0 4,238 0 12,223
Net income (loss) $ 26,331 $ 48,657 $ 64,978 $ (145,439)
Basic earnings (loss) per share:        
Basic earnings (loss) per share from continuing operations (in dollars per share) $ 0.16 $ 0.27 $ 0.40 $ (0.98)
Basic earnings per share from discontinued operations (in dollars per share) 0 0.03 0 0.08
Basic earnings (loss) per share (in dollars per share) 0.16 0.30 0.40 (0.90)
Diluted earnings (loss) per share:        
Diluted earnings (loss) per share from continuing operations (in dollars per share) 0.16 0.27 0.40 (0.98)
Diluted earnings per share from discontinued operations (in dollars per share) 0 0.03 0 0.08
Diluted earnings (loss) per share (in dollars per share) $ 0.16 $ 0.30 $ 0.40 $ (0.90)