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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans, including fees $ 21,420 $ 17,697 $ 59,066 $ 48,928
Interest on investment securities:        
Taxable interest 8,847 8,350 26,990 22,782
Tax-exempt interest 86 142 228 639
Federal funds sold/securities purchased under agreements to resell 371 146 931 301
Interest earning deposits 1,190 397 3,961 1,677
Total interest income 31,914 26,732 91,176 74,327
Interest expense        
Deposits 3,688 2,906 10,554 8,692
Securities sold under agreements to repurchase       1
Short-term borrowings 175 153 197 263
Subordinated debenture 150 131 432 383
Total interest expense 4,013 3,190 11,183 9,339
Net interest income 27,901 23,542 79,993 64,988
Provision for loan and lease losses 800 750 2,150 1,810
Net interest income after provision for loan and lease losses 27,101 22,792 77,843 63,178
Non-interest income        
Service fees on deposit accounts 1,700 1,510 4,895 3,335
Card payment and ACH processing fees 1,564 1,459 4,596 4,183
Prepaid card fees 12,491 12,249 39,272 39,333
Gain on sale of loans 11,394 903 17,535 809
Gain on sale of investment securities 506 981 1,595 3,131
Change in value of investment in unconsolidated entity (4) 811 (20) (12,313)
Leasing income 705 588 2,088 1,456
Affinity fees 275 1,091 1,445 3,507
Gain on sale of health savings accounts     2,538  
Loss from sale of European prepaid operations     (3,437)  
Other 376 312 892 4,691
Total non-interest income 29,007 19,904 71,399 48,132
Non-interest expense        
Salaries and employee benefits 21,788 21,508 57,902 62,400
Depreciation and amortization 1,080 1,241 3,405 3,751
Rent and related occupancy cost 1,368 1,638 4,227 4,797
Data processing expense 1,926 3,507 8,047 10,949
One time fee to exit data processing contract 1,136   1,136  
Printing and supplies 282 825 1,120 2,194
Audit expense 393 246 1,270 746
Legal expense 2,744 814 5,909 3,786
Amortization of intangible assets 377 394 1,133 1,032
Losses on sale and write downs on other real estate owned     19  
FDIC insurance 2,063 2,436 7,586 7,118
Software 3,088 3,032 9,328 8,266
Insurance 633 631 1,853 1,695
Telecom and IT network communications 426 582 1,443 1,547
Securitization and servicing expense     100 747
Consulting 505 1,701 1,745 4,214
Bank Secrecy Act and lookback consulting expenses   1,340   29,076
Civil money penalty 2,500   2,500  
Other 3,574 4,276 10,306 14,127
Total non-interest expense 43,883 44,171 119,029 156,445
Income (loss) from continuing operations before income taxes 12,225 (1,475) 30,213 (45,135)
Income tax expense (benefit) 5,455 55 (457) (15,324)
Net income (loss) from continuing operations 6,770 (1,530) 30,670 (29,811)
Income (loss) from discontinued operations before income taxes 829 (21,490) 5,488 (38,073)
Income tax expense (benefit) 318 2,531 2,050 (164)
Income (loss) from discontinued operations, net of tax 511 (24,021) 3,438 (37,909)
Net income (loss) available to common shareholders $ 7,281 $ (25,551) $ 34,108 $ (67,720)
Net income (loss) per share from continuing operations - basic $ 0.12 $ (0.03) $ 0.55 $ (0.73)
Net income (loss) per share from discontinued operations - basic 0.01 (0.51) 0.06 (0.92)
Net income (loss) per share - basic (in dollars per share) 0.13 (0.54) 0.61 (1.65)
Net income (loss) per share from continuing operations - diluted 0.12 (0.03) 0.55 (0.73)
Net income (loss) per share from discontinued operations - diluted 0.01 (0.51) 0.06 (0.92)
Net income (loss) per share - diluted (in dollars per share) $ 0.13 $ (0.54) $ 0.61 $ (1.65)