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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income      
Loans, including fees $ 260,687 $ 257,300 $ 333,934
Securities 27,588 29,038 48,134
Other interest-earning assets 3,384 4,269 9,043
Total interest and dividend income 291,659 290,607 391,111
Interest expense      
Deposits 12,313 37,816 101,099
Federal Home Loan Bank advances 12,023 18,040 32,285
Securities sold under repurchase agreements 0 4 62
Long-term debt and other interest-bearing liabilities 13,545 10,153 9,502
Total interest expense 37,881 66,013 142,948
Net interest income 253,778 224,594 248,163
Provision for credit losses 6,854 29,719 35,829
Net interest income after provision for credit losses 246,924 194,875 212,334
Noninterest income      
Customer service fees 7,685 5,771 5,982
Loan servicing income 595 505 679
Income from bank owned life insurance 2,871 2,489 2,292
Impairment loss on investment securities 0 0 (731)
Net gain (loss) on sale of securities available-for-sale 0 2,011 (4,852)
Fair value adjustment on loans held-for-sale 206 (1,501) 106
Net gain on sale of loans 275 245 7,766
Other income 7,298 8,998 874
Total noninterest income 18,930 18,518 12,116
Noninterest expense      
Salaries and employee benefits 103,358 96,809 105,915
Occupancy and equipment 29,452 29,350 31,308
Professional fees 10,584 15,736 12,212
Data processing 6,861 6,574 6,420
Advertising and promotion 491 3,303 8,422
Regulatory assessments 3,395 2,741 7,711
Extinguishment of debt 0 2,515 0
(Gain) loss on investments in alternative energy partnerships (204) (365) 1,694
Reversal of provision for loan repurchases (948) (697) (660)
Amortization of intangible assets 1,276 1,518 2,195
Merger-related costs 15,869 0 0
Restructuring expense 0 0 4,263
Naming rights termination 0 26,769 0
All other expense 13,098 14,780 16,992
Total noninterest expense 183,232 199,033 196,472
Income from operations before income taxes 82,622 14,360 27,978
Income tax expense 20,276 1,786 4,219
Net income 62,346 12,574 23,759
Preferred stock dividends 8,322 13,869 15,559
Income allocated to participating securities 114 0 0
Participating securities dividends 0 376 483
Impact of preferred stock redemption 3,347 (568) 5,093
Net income (loss) available to common stockholders 50,563 (1,103) 2,624
Voting      
Noninterest expense      
Preferred stock dividends 8,247 13,737 15,412
Income allocated to participating securities 113 0 0
Participating securities dividends 0 372 478
Impact of preferred stock redemption $ 3,317 $ (563) $ 5,045
Earnings (loss) per common share:      
Basic (in dollars per share) $ 0.95 $ (0.02) $ 0.05
Earnings (loss) per class B common share:      
Diluted (in dollars per share) $ 0.95 $ (0.02) $ 0.05
Class B Common Stock      
Noninterest expense      
Preferred stock dividends $ 75 $ 132 $ 147
Income allocated to participating securities 1 0 0
Participating securities dividends 0 4 5
Impact of preferred stock redemption $ 30 $ (5) $ 48
Earnings (loss) per common share:      
Basic (in dollars per share) $ 0.95 $ (0.02) $ 0.05
Earnings (loss) per class B common share:      
Diluted (in dollars per share) $ 0.95 $ (0.02) $ 0.05