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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and dividend income        
Loans and leases, including fees $ 84,795 $ 70,208 $ 241,014 $ 209,376
Securities 20,599 24,337 63,685 76,572
Other interest-earning assets 2,380 2,206 6,967 6,085
Total interest and dividend income 107,774 96,751 311,666 292,033
Interest expense        
Deposits 25,154 15,468 62,264 44,370
Federal Home Loan Bank advances 8,996 3,352 25,927 7,549
Securities sold under repurchase agreements 47 500 1,008 686
Long term debt and other interest-bearing liabilities 2,385 2,395 7,073 8,411
Total interest expense 36,582 21,715 96,272 61,016
Net interest income 71,192 75,036 215,394 231,017
Provision for loan and lease losses 1,410 3,561 23,562 8,647
Net interest income after provision for loan and lease losses 69,782 71,475 191,832 222,370
Noninterest income        
Customer service fees 1,446 1,576 4,529 4,868
Loan servicing income 439 553 3,698 3,441
Income from bank owned life insurance 551 583 1,617 1,780
Net gain on sale of securities available-for-sale 13 7,625 5,532 12,080
Net gain on sale of loans 279 5,735 1,059 10,737
Net gain (loss) on sale of mortgage servicing rights 24 0 (2,426) 0
Other income 2,072 2,293 7,458 6,069
Total noninterest income 4,824 18,365 21,467 38,975
Noninterest expense        
Salaries and employee benefits 24,832 30,216 85,387 96,007
Occupancy and equipment 8,213 10,085 23,783 30,529
Professional fees 11,966 7,697 27,446 34,564
Outside service fees 954 881 3,913 3,883
Data processing 1,884 1,901 5,218 6,326
Advertising and promotion 3,152 1,051 9,293 3,893
Regulatory assessments 2,138 2,350 6,426 5,931
Loss on investments in alternative energy partnerships 2,484 8,348 4,258 26,791
Reversal of provision for loan repurchases (360) (749) (2,366) (1,477)
Amortization of intangible assets 693 916 2,363 3,062
Impairment on intangible assets 0 0 0 336
Restructuring expense 553 0 4,536 5,369
All other expense 4,368 12,975 12,959 26,672
Total noninterest expense 60,877 75,671 183,216 241,886
Income from continuing operations before income taxes 13,729 14,169 30,083 19,459
Income tax expense (benefit) 3,301 (3,939) (1,273) (23,163)
Income from continuing operations 10,428 18,108 31,356 42,622
Income (loss) from discontinued operations before income taxes (including net gain on disposal of $0 and $211, respectively, for the three months ended September 30, 2018 and 2017 and $1,275 and $13,749, respectively, for the nine months ended September 30, 2018 and 2017) 924 (1,958) 4,249 6,399
Income tax expense (benefit) 256 (799) 1,171 2,614
Income (loss) from discontinued operations 668 (1,159) 3,078 3,785
Net income 11,096 16,949 34,434 46,407
Preferred stock dividends 4,970 5,112 15,196 15,338
Impact of preferred stock redemption 2,307 0 2,307 0
Net income available to common stockholders $ 3,819 $ 11,837 $ 16,931 $ 31,069
Basic earnings per common share        
Income from continuing operations (in usd per share) $ 0.06 $ 0.25 $ 0.26 $ 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 0.02 0.06 0.08
Net income (in usd per share) 0.07 0.23 0.32 0.60
Diluted earnings per common share        
Income from continuing operations (in usd per share) 0.06 0.25 0.26 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 (0.02) 0.06 0.07
Net income (in usd per share) $ 0.07 $ 0.23 $ 0.32 $ 0.59
Class A Common Stock        
Noninterest expense        
Income from continuing operations $ 10,330 $ 17,980 $ 31,043 $ 42,384
Income (loss) from discontinued operations 662 (1,151) 3,047 3,764
Preferred stock dividends 4,923 $ 5,076 15,044 $ 15,252
Impact of preferred stock redemption $ 2,285   $ 2,284  
Basic earnings per common share        
Income from continuing operations (in usd per share) $ 0.06 $ 0.25 $ 0.26 $ 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 (0.02) 0.06 0.08
Net income (in usd per share) 0.07 0.23 0.32 0.60
Diluted earnings per common share        
Income from continuing operations (in usd per share) 0.06 0.25 0.26 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 (0.02) 0.06 0.07
Net income (in usd per share) $ 0.07 $ 0.23 $ 0.32 $ 0.59
Class B Common Stock        
Noninterest expense        
Income from continuing operations $ 98 $ 128 $ 313 $ 238
Income (loss) from discontinued operations 6 (8) 31 21
Preferred stock dividends 47 $ 36 152 $ 86
Impact of preferred stock redemption $ 22   $ 23  
Basic earnings per common share        
Income from continuing operations (in usd per share) $ 0.06 $ 0.25 $ 0.26 $ 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 (0.02) 0.06 0.08
Net income (in usd per share) 0.07 0.23 0.32 0.60
Diluted earnings per common share        
Income from continuing operations (in usd per share) 0.06 0.25 0.26 0.52
Income (loss) from discontinued operations (in usd per share) 0.01 (0.02) 0.06 0.08
Net income (in usd per share) $ 0.07 $ 0.23 $ 0.32 $ 0.60