QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Results of Operations

The following table presents the unaudited quarterly results of operations for the year ended December 31, 2019:



	Three Months Ended,
($ in thousands, except per share data)	March 31, 2019		June 30, 2019			September 30, 2019			December 31, 2019
Interest income	$	110,712	$	104,040		$	92,657		$	83,702
Interest expense	42,904		39,260			33,742			27,042
Net interest income	67,808		64,780			58,915			56,660
Provision for (reversal of) loan losses	2,512		(1,987		)	38,540			(2,678		)
Noninterest income	6,295		(2,290		)	3,181			4,930
Noninterest expense	61,835		43,587			43,307			47,185
Income (loss) from continuing operations before income taxes	9,756		20,890			(19,751		)	17,083
Income tax expense (benefit)	2,719		4,308			(5,619		)	2,811
Net income (loss)	7,037		16,582			(14,132		)	14,272
Dividends on preferred stock	4,308		4,308			3,403			3,540
Income allocated to participating securities	—		271			—			224
Participating securities dividends	202		94			94			93
Impact of preferred stock redemption	—		—			5,093			—
Net income (loss) available to common stockholders	$	2,527	$	11,909		$	(22,722	)	$	10,415
Basic earnings per common share
Net income (loss)	$	0.05	$	0.23		$	(0.45	)	$	0.21
Diluted earnings per common share
Net income (loss)	$	0.05	$	0.23		$	(0.45	)	$	0.20
Basic earnings per class B common share
Net income (loss)	$	0.05	$	0.23		$	(0.45	)	$	0.21
Diluted earnings per class B common share
Net income (loss)	$	0.05	$	0.23		$	(0.45	)	$	0.21

The following table presents the unaudited quarterly results of operations for the year ended December 31, 2018:



	Three Months Ended,
($ in thousands, except per share data)	March 31, 2018			June 30, 2018		September 30, 2018		December 31, 2018
Interest income	$	98,707		$	105,185	$	107,774	$	111,130
Interest expense	27,269			32,421		36,582		40,448
Net interest income	71,438			72,764		71,192		70,682
Provision for loan losses	19,499			2,653		1,410		6,653
Noninterest income	8,582			8,061		4,824		2,448
Noninterest expense	59,800			62,539		60,877		49,569
Income from continuing operations before income taxes	721			15,633		13,729		16,908
Income tax (benefit) expense	(6,353		)	1,779		3,301		6,117
Income from continuing operations	7,074			13,854		10,428		10,791
Income from discontinued operations before income taxes	2,044			1,281		924		347
Income tax expense	560			355		256		100
Income from discontinued operations	1,484			926		668		247
Net income	8,558			14,780		11,096		11,038
Dividends on preferred stock	5,113			5,113		4,970		4,308
Income allocated to participating securities	203			203		202		203
Participating securities dividends	—			86		—		—
Impact of preferred stock redemption	—			—		2,307		—
Net income available to common stockholders	$	3,242		$	9,378	$	3,617	$	6,527
Basic earnings per common share
Income from continuing operations	$	0.03		$	0.17	$	0.06	$	0.12
Income from discontinued operations	0.03			0.02		0.01		0.01
Net income	$	0.06		$	0.19	$	0.07	$	0.13
Diluted earnings per common share
Income from continuing operations	$	0.03		$	0.16	$	0.06	$	0.12
Income from discontinued operations	0.03			0.02		0.01		0.01
Net income	$	0.06		$	0.18	$	0.07	$	0.13
Basic earnings per class B common share
Income from continuing operations	$	0.03		$	0.17	$	0.06	$	0.12
Income from discontinued operations	0.03			0.02		0.01		0.01
Net income	$	0.06		$	0.19	$	0.07	$	0.13
Diluted earnings per class B common share
Income from continuing operations	$	0.03		$	0.17	$	0.06	$	0.12
Income from discontinued operations	0.03			0.02		0.01		0.01
Net income	$	0.06		$	0.19	$	0.07	$	0.13