XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income      
Loans, including fees $ 327,545 $ 260,687 $ 257,300
Securities 38,527 27,588 29,038
Other interest-earning assets 6,700 3,384 4,269
Total interest and dividend income 372,772 291,659 290,607
Interest expense      
Deposits 27,833 12,313 37,816
Federal Home Loan Bank advances 15,153 12,023 18,040
Long-term debt and other interest-bearing liabilities 15,421 13,545 10,157
Total interest expense 58,407 37,881 66,013
Net interest income 314,365 253,778 224,594
(Reversal of) provision for credit losses (31,542) 6,854 29,719
Net interest income after (reversal of) provision for credit losses 345,907 246,924 194,875
Noninterest income      
Customer service fees 9,540 7,685 5,771
Loan servicing income 1,518 595 505
Income from bank owned life insurance 3,402 2,871 2,489
Net (loss) gain on sale of securities available-for-sale (7,692) 0 2,011
Other income 10,582 8,225 8,094
Total noninterest income 17,350 19,376 18,870
Noninterest expense      
Salaries and employee benefits 113,060 103,358 96,809
Occupancy and equipment 32,811 29,452 29,350
Professional fees 15,001 10,584 15,736
Data processing 7,053 6,861 6,574
Regulatory assessments 3,626 3,395 2,741
Extinguishment of debt 0 0 2,515
Loss (gain) on investments in alternative energy partnerships 2,313 (204) (365)
(Reversal of) provision for loan repurchases (1,004) (948) (697)
Amortization of other intangibles 1,705 1,276 1,518
Acquisition, integration and transaction costs 2,080 15,869 0
Naming rights termination 0 0 26,769
Other expense 17,728 14,035 18,435
Total noninterest expense 194,373 183,678 199,385
Income from operations before income taxes 168,884 82,622 14,360
Income tax expense 47,945 20,276 1,786
Net income 120,939 62,346 12,574
Preferred stock dividends 1,420 8,322 13,869
Income allocated to participating securities 0 114 0
Participating securities dividends 0 0 376
Impact of preferred stock redemption 3,747 3,347 (568)
Net income (loss) available to common stockholders 115,772 50,563 (1,103)
Common Stock      
Noninterest expense      
Preferred stock dividends 1,409 8,247 13,737
Income allocated to participating securities 0 113 0
Participating securities dividends 0 0 372
Impact of preferred stock redemption $ 3,718 $ 3,317 $ (563)
Earnings (loss) per common share:      
Basic (in dollars per share) $ 1.90 $ 0.95 $ (0.02)
Diluted (in dollars per share) $ 1.89 $ 0.95 $ (0.02)
Class B Common Stock      
Noninterest expense      
Preferred stock dividends $ 11 $ 75 $ 132
Income allocated to participating securities 0 1 0
Participating securities dividends 0 0 4
Impact of preferred stock redemption $ 29 $ 30 $ (5)
Earnings (loss) per common share:      
Basic (in dollars per share) $ 1.90 $ 0.95 $ (0.02)
Diluted (in dollars per share) $ 1.90 $ 0.95 $ (0.02)