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Condensed Consolidated Statements of Earnings - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:          
Loans and leases $ 388,853,000 $ 385,465,000 $ 408,972,000 $ 774,318,000 $ 839,657,000
Investment securities 33,836,000 34,303,000 44,153,000 68,139,000 88,390,000
Deposits in financial institutions 39,900,000 58,936,000 86,763,000 98,836,000 129,629,000
Total interest income 462,589,000 478,704,000 539,888,000 941,293,000 1,057,676,000
Interest expense:          
Deposits 186,106,000 194,807,000 178,789,000 380,913,000 334,681,000
Borrowings 30,311,000 38,124,000 160,914,000 68,435,000 230,036,000
Subordinated debt 16,684,000 16,671,000 14,109,000 33,355,000 27,611,000
Total interest expense 233,101,000 249,602,000 353,812,000 482,703,000 592,328,000
Net interest income 229,488,000 229,102,000 186,076,000 458,590,000 465,348,000
Provision for credit losses 11,000,000.0 10,000,000.0 2,000,000 21,000,000 5,000,000.0
credit losses 218,488,000 219,102,000 184,076,000 437,590,000 460,348,000
Noninterest income:          
Leased equipment income 11,487,000 11,716,000 22,387,000 23,203,000 36,244,000
Other commissions and fees 8,629,000 8,142,000 11,241,000 16,771,000 21,585,000
Service charges on deposit accounts 4,540,000 4,705,000 4,315,000 9,245,000 7,888,000
Gain (loss) on sale of loans and leases 1,135,000 (448,000) (158,881,000) 687,000 (155,919,000)
Loss on sale of securities 0   0 0 0
investments 1,166,000 3,068,000 2,658,000 4,234,000 3,756,000
Warrant (loss) income (324,000) 178,000 (124,000) (146,000) (457,000)
LOCOM HFS adjustment (38,000) 330,000 (11,943,000) 292,000 (11,943,000)
Other income 3,197,000 6,125,000 2,265,000 9,322,000 7,155,000
Total noninterest income (loss) 29,792,000 33,816,000 (128,082,000) 63,608,000 (91,691,000)
Noninterest expense:          
Compensation 85,914,000 92,236,000 82,881,000 178,150,000 171,357,000
Insurance and assessments 26,431,000 20,461,000 25,635,000 46,892,000 37,352,000
Customer related expense 32,405,000 30,919,000 27,302,000 63,324,000 51,307,000
Occupancy 17,455,000 17,968,000 15,383,000 35,423,000 30,450,000
processing 15,459,000 15,418,000 12,887,000 30,877,000 25,866,000
Leased equipment depreciation 7,511,000 7,520,000 9,088,000 15,031,000 18,463,000
Other professional services 5,183,000 5,075,000 9,973,000 10,258,000 16,046,000
Loan expense 4,332,000 4,491,000 5,245,000 8,823,000 11,769,000
Intangible asset amortization 8,484,000 8,404,000 2,389,000 16,888,000 4,800,000
reorganization costs (12,650,000) 0 12,394,000 (12,650,000) 20,908,000
Goodwill, Impairment Loss 0 0 0 0 1,376,736,000
Other expense 13,119,000 8,026,000 117,260,000 21,145,000 128,386,000
Total noninterest expense 203,643,000 210,518,000 320,437,000 414,161,000 1,893,440,000
Earnings (loss) before income taxes 44,637,000 42,400,000 (264,443,000) 87,037,000 (1,524,783,000)
Income tax expense (benefit) (14,304,000) (11,548,000) 67,029,000 (25,852,000) 131,945,000
Net earnings (loss) 30,333,000 30,852,000 (197,414,000) 61,185,000 (1,392,838,000)
Preferred stock dividends 9,947,000 9,947,000 9,947,000 19,894,000 19,894,000
Net earnings (loss) available to common and equivalent stockholders, basic 20,386,000 20,905,000 (207,361,000) 41,291,000 (1,412,732,000)
Net earnings (loss) available to common and equivalent stockholders, diluted $ 20,386,000 $ 20,905,000 $ (207,361,000) $ 41,291,000 $ (1,412,732,000)
Earnings (loss) per share:          
Basic (usd per share) $ 0.12 $ 0.12 $ (2.67) $ 0.25 $ (18.21)
Diluted (usd per share) $ 0.12 $ 0.12 $ (2.67) $ 0.25 $ (18.21)