XML 22 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and dividend income      
Loans and leases, including fees $ 281,071 $ 281,868 $ 229,025
Securities 99,742 79,527 20,263
Other interest-earning assets 8,377 8,449 4,519
Total interest and dividend income 389,190 369,844 253,807
Interest expense      
Deposits 60,414 40,220 25,783
Federal Home Loan Bank advances 12,951 5,717 2,120
Securities sold under repurchase agreements 880 818 18
Long-term debt and other interest-bearing liabilities 10,755 12,744 14,700
Total interest expense 85,000 59,499 42,621
Net interest income 304,190 310,345 211,186
Provision for loan and lease losses 13,699 5,271 7,469
Net interest income after provision for loan and lease losses 290,491 305,074 203,717
Noninterest income      
Customer service fees 6,492 5,147 4,057
Loan servicing income 1,025 633 1,406
Income from bank owned life insurance 2,339 2,341 1,076
Net gain on sale of securities available-for-sale 14,768 29,405 3,258
Net gain on sale of loans 11,942 35,895 37,211
Advisory service fees 0 1,507 9,868
Loan brokerage income 1,061 4,251 2,825
Gain on sale of building 0 0 9,919
Gain on sale of subsidiary 0 3,694 0
Gain on sale of business unit 0 2,629 0
Other income 7,043 13,128 6,128
Total noninterest income 44,670 98,630 75,748
Noninterest expense      
Salaries and employee benefits 129,153 146,147 114,845
Occupancy and equipment 40,094 38,046 30,365
Professional fees 42,417 30,373 19,500
Outside service fees 5,840 6,989 4,448
Data processing 7,888 8,311 6,011
Advertising 5,313 6,894 3,467
Regulatory assessments 8,105 8,186 5,644
Loss on investments in alternative energy partnerships, net 30,786 31,510 0
Provision (reversal) for loan repurchases (1,812) (3,352) 2,326
Amortization of intangible assets 3,928 4,851 5,836
Impairment on intangible assets 336 690 258
Restructuring expense 5,326 0 0
All other expense 30,894 24,570 17,599
Total noninterest expense 308,268 303,215 210,299
Income from continuing operations before income taxes 26,893 100,489 69,166
Income tax (benefit) expense (26,581) 13,749 28,048
Income from continuing operations 53,474 86,740 41,118
Income from discontinued operations before income taxes (including net gain on disposal of $13,796 for the year ended December 31, 2017) 7,164 48,917 35,100
Income tax expense 2,929 20,241 14,146
Income (loss) from discontinued operations 4,235 28,676 20,954
Net income 57,709 115,416 62,072
Preferred stock dividends 20,451 19,914 9,823
Net income allocated to common stockholders $ 37,258 $ 95,502 $ 52,249
Basic earnings per common share      
Income from continuing operations (in dollars per share) $ 0.64 $ 1.36 $ 0.79
Income from discontinued operations (in dollars per share) 0.08 0.61 0.57
Net income (in dollars per share) 0.72 1.97 1.36
Diluted earnings per common share      
Income from continuing operations (in dollars per share) 0.63 1.34 0.78
Income from discontinued operations (in dollars per share) 0.08 0.60 0.56
Net income (in dollars per share) $ 0.71 $ 1.94 $ 1.34
Class A Common Stock      
Noninterest expense      
Income from continuing operations $ 53,136 $ 86,500 $ 41,103
Income (loss) from discontinued operations 4,208 28,597 20,947
Preferred stock dividends $ 20,322 $ 19,859 $ 9,820
Basic earnings per common share      
Income from continuing operations (in dollars per share) $ 0.64 $ 1.36 $ 0.79
Income from discontinued operations (in dollars per share) 0.08 0.61 0.57
Net income (in dollars per share) 0.72 1.97 1.36
Diluted earnings per common share      
Income from continuing operations (in dollars per share) 0.63 1.34 0.78
Income from discontinued operations (in dollars per share) 0.08 0.60 0.56
Net income (in dollars per share) $ 0.71 $ 1.94 $ 1.34
Class B Common Stock      
Noninterest expense      
Income from continuing operations $ 338 $ 240 $ 15
Income (loss) from discontinued operations 27 79 7
Preferred stock dividends $ 129 $ 55 $ 3
Basic earnings per common share      
Income from continuing operations (in dollars per share) $ 0.64 $ 1.36 $ 0.79
Income from discontinued operations (in dollars per share) 0.08 0.61 0.57
Net income (in dollars per share) 0.72 1.97 1.36
Diluted earnings per common share      
Income from continuing operations (in dollars per share) 0.64 1.36 0.79
Income from discontinued operations (in dollars per share) 0.08 0.61 0.57
Net income (in dollars per share) $ 0.72 $ 1.97 $ 1.36