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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and dividend income      
Loans, including fees $ 257,300 $ 333,934 $ 329,272
Securities 29,038 48,134 83,567
Other interest-earning assets 4,269 9,043 9,957
Total interest and dividend income 290,607 391,111 422,796
Interest expense      
Deposits 37,816 101,099 91,236
Federal Home Loan Bank advances 18,040 32,285 34,995
Securities sold under repurchase agreements 4 62 1,033
Long-term debt and other interest-bearing liabilities 10,153 9,502 9,456
Total interest expense 66,013 142,948 136,720
Net interest income 224,594 248,163 286,076
Provision for credit losses 29,719 35,829 31,121
Net interest income after provision for credit losses 194,875 212,334 254,955
Noninterest income      
Customer service fees 5,771 5,982 6,315
Loan servicing income 505 679 3,720
Income from bank owned life insurance 2,489 2,292 2,176
Impairment loss on investment securities 0 (731) (3,252)
Net gain (loss) on sale of securities available-for-sale 2,011 (4,852) 5,532
Fair value adjustment for loans held-for-sale (1,501) 106 0
Net gain on sale of loans 245 7,766 1,932
Net loss on sale of mortgage servicing rights 0 0 (2,260)
Other income 8,998 874 9,752
Total noninterest income 18,518 12,116 23,915
Noninterest expense      
Salaries and employee benefits 96,809 105,915 109,974
Naming rights termination 26,769 0 0
Occupancy and equipment 29,350 31,308 31,847
Professional fees 15,736 12,212 33,652
Data processing 6,574 6,420 6,951
Advertising and promotion 3,303 8,422 12,664
Regulatory assessments 2,741 7,711 7,678
(Gain) loss on investments in alternative energy partnerships (365) 1,694 5,044
Reversal of provision for loan repurchases (697) (660) (2,488)
Amortization of intangible assets 1,518 2,195 3,007
Restructuring expense 0 4,263 4,431
All other expense 17,295 16,992 19,119
Total noninterest expense 199,033 196,472 231,879
Income from continuing operations before income taxes 14,360 27,978 46,991
Income tax expense 1,786 4,219 4,844
Income from continuing operations 12,574 23,759 42,147
Income from discontinued operations before income taxes (including net gain on disposal of $0, $0 and 1,439 for the years ended December 31, 2020, 2019 and 2018) 0 0 4,596
Income tax expense 0 0 1,271
Income from discontinued operations 0 0 3,325
Net income 12,574 23,759 45,472
Preferred stock dividends 13,869 15,559 19,504
Less participating securities dividends 376 483 811
Impact of preferred stock redemption (568) 5,093 2,307
Net (loss) income available to common stockholders (1,103) 2,624 22,850
Class A Common Stock      
Noninterest expense      
Income from continuing operations 12,454 23,535 41,732
Income from discontinued operations 0 0 3,292
Preferred stock dividends 13,737 15,412 19,312
Less participating securities dividends 372 478 803
Impact of preferred stock redemption $ (563) $ 5,045 $ 2,284
Basic (loss) earnings per common share      
(Loss) income from continuing operations (in dollars per share) $ (0.02) $ 0.05 $ 0.38
Income from discontinued operations (in dollars per share) 0 0 0.07
Net (loss) income (in dollars per share) (0.02) 0.05 0.45
Diluted (loss) earnings per common share      
(Loss) income from continuing operations (in dollars per share) (0.02) 0.05 0.38
Income from discontinued operations (in dollars per share) 0 0 0.07
Net (loss) income (in dollars per share) $ (0.02) $ 0.05 $ 0.45
Class B Common Stock      
Noninterest expense      
Income from continuing operations $ 120 $ 224 $ 415
Income from discontinued operations 0 0 33
Preferred stock dividends 132 147 192
Less participating securities dividends 4 5 8
Impact of preferred stock redemption $ (5) $ 48 $ 23
Basic (loss) earnings per common share      
(Loss) income from continuing operations (in dollars per share) $ (0.02) $ 0.05 $ 0.38
Income from discontinued operations (in dollars per share) 0 0 0.07
Net (loss) income (in dollars per share) (0.02) 0.05 0.45
Diluted (loss) earnings per common share      
(Loss) income from continuing operations (in dollars per share) (0.02) 0.05 0.38
Income from discontinued operations (in dollars per share) 0 0 0.07
Net (loss) income (in dollars per share) $ (0.02) $ 0.05 $ 0.45