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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and dividend income    
Loans and leases, including fees $ 90,558 $ 74,912
Securities 17,841 21,631
Other interest-earning assets 2,313 2,164
Total interest and dividend income 110,712 98,707
Interest expense    
Deposits 31,443 16,795
Federal Home Loan Bank advances 9,081 7,392
Securities sold under repurchase agreements 18 750
Long term debt and other interest-bearing liabilities 2,362 2,332
Total interest expense 42,904 27,269
Net interest income 67,808 71,438
Provision for loan and lease losses 2,512 19,499
Net interest income after provision for loan and lease losses 65,296 51,939
Noninterest income    
Customer service fees 1,515 1,592
Loan servicing income 118 2,311
Income from bank owned life insurance 525 533
Net gain on sale of securities available-for-sale 208 5,241
Net gain (loss) on sale of loans 1,553 (41)
Net loss on sale of mortgage servicing rights 0 (2,295)
Other income 2,376 1,241
Total noninterest income 6,295 8,582
Noninterest expense    
Salaries and employee benefits 28,439 31,115
Occupancy and equipment 7,686 7,687
Professional fees 11,041 9,177
Outside service fees 403 2,546
Data processing 1,496 1,656
Advertising and promotion 2,057 3,277
Regulatory assessments 2,482 2,092
Loss (gain) on investments in alternative energy partnerships 1,950 (34)
Reversal of provision for loan repurchases (116) (1,788)
Amortization of intangible assets 620 843
Restructuring expense 2,795 0
All other expense 2,982 3,229
Total noninterest expense 61,835 59,800
Income from continuing operations before income taxes 9,756 721
Income tax expense (benefit) 2,719 (6,353)
Income from continuing operations 7,037 7,074
Income from discontinued operations before income taxes (including net gain on disposal of $0 and $1,003, respectively, for the three months ended March 31, 2019 and 2018) 0 2,044
Income tax expense 0 560
Income from discontinued operations 0 1,484
Net income 7,037 8,558
Preferred stock dividends 4,308 5,113
Net income available to common stockholders $ 2,527 $ 3,242
Basic earnings per common share    
Income from continuing operations (in usd per share) $ 0.05 $ 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) 0.05 0.06
Diluted earnings per common share    
Income from continuing operations (in usd per share) 0.05 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) $ 0.05 $ 0.06
Distributed Earnings (Loss) Allocated to Participating Securities, Basic $ 202 $ 203
Class A Common Stock    
Noninterest expense    
Income from continuing operations 6,971 7,003
Income from discontinued operations 0 1,469
Preferred stock dividends $ 4,267 $ 5,062
Basic earnings per common share    
Income from continuing operations (in usd per share) $ 0.05 $ 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) 0.05 0.06
Diluted earnings per common share    
Income from continuing operations (in usd per share) 0.05 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) $ 0.05 $ 0.06
Distributed Earnings (Loss) Allocated to Participating Securities, Basic $ 200 $ 201
Class B Common Stock    
Noninterest expense    
Income from continuing operations 66 71
Income from discontinued operations 0 15
Preferred stock dividends $ 41 $ 51
Basic earnings per common share    
Income from continuing operations (in usd per share) $ 0.05 $ 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) 0.05 0.06
Diluted earnings per common share    
Income from continuing operations (in usd per share) 0.05 0.03
Income from discontinued operations (in usd per share) 0.00 0.03
Net income (in usd per share) $ 0.05 $ 0.06
Distributed Earnings (Loss) Allocated to Participating Securities, Basic $ 2 $ 2