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Condensed Consolidated Statements of Earnings - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:          
Loans and leases $ 369,913,000 $ 388,853,000 $ 310,392,000 $ 1,144,231,000 $ 1,150,049,000
Investment securities 34,912,000 33,836,000 45,326,000 103,051,000 133,716,000
Deposits in financial institutions 42,068,000 39,900,000 90,366,000 140,904,000 219,995,000
Total interest income 446,893,000 462,589,000 446,084,000 1,388,186,000 1,503,760,000
Interest expense:          
Deposits 180,986,000 186,106,000 205,982,000 561,899,000 540,663,000
Borrowings 16,970,000 30,311,000 94,234,000 85,405,000 324,270,000
Subordinated debt 16,762,000 16,684,000 15,139,000 50,117,000 42,750,000
Total interest expense 214,718,000 233,101,000 315,355,000 697,421,000 907,683,000
Net interest income 232,175,000 229,488,000 130,729,000 690,765,000 596,077,000
Provision for credit losses 9,000,000 11,000,000 0 30,000,000 5,000,000.0
credit losses 223,175,000 218,488,000 130,729,000 660,765,000 591,077,000
Noninterest income:          
Leased equipment income 17,176,000 11,487,000 14,554,000 40,379,000 50,798,000
Other commissions and fees 8,256,000 8,629,000 7,641,000 25,027,000 29,226,000
Service charges on deposit accounts 4,568,000 4,540,000 4,018,000 13,813,000 11,906,000
(Loss) gain on sale of loans and leases (62,000) 1,135,000 (1,901,000) 625,000 (157,820,000)
Loss on sale of securities (59,946,000) 0 0 (59,946,000) 0
investments 3,730,000 1,166,000 3,837,000 7,964,000 7,593,000
Warrant income (loss) 211,000 (324,000) (88,000) 65,000 (545,000)
LOCOM HFS adjustment (74,000) (38,000) 307,000 218,000 (11,636,000)
Other income 10,689,000 3,197,000 15,440,000 20,011,000 22,595,000
Total noninterest (loss) income (15,452,000) 29,792,000 43,808,000 48,156,000 (47,883,000)
Noninterest expense:          
Compensation 85,585,000 85,914,000 71,642,000 263,735,000 242,999,000
Insurance and assessments 12,708,000 26,431,000 38,298,000 59,600,000 75,650,000
Customer related expense 34,475,000 32,405,000 26,971,000 97,799,000 78,278,000
Occupancy 16,892,000 17,455,000 15,293,000 52,315,000 45,743,000
processing 14,995,000 15,459,000 12,840,000 45,872,000 38,706,000
Leased equipment depreciation 7,144,000 7,511,000 8,333,000 22,175,000 26,796,000
Other professional services 5,101,000 5,183,000 5,597,000 15,359,000 21,643,000
Loan expense 3,994,000 4,332,000 4,243,000 12,817,000 16,012,000
Intangible asset amortization 8,485,000 8,484,000 2,389,000 25,373,000 7,189,000
reorganization costs (510,000) (12,650,000) 9,925,000 (13,160,000) 30,833,000
Goodwill, Impairment Loss 0 0 0 0 1,376,736,000
Other expense 7,340,000 13,119,000 5,572,000 28,485,000 133,958,000
Total noninterest expense 196,209,000 203,643,000 201,103,000 610,370,000 2,094,543,000
Earnings (loss) before income taxes 11,514,000 44,637,000 (26,566,000) 98,551,000 (1,551,349,000)
Income tax expense (benefit) (2,730,000) (14,304,000) 3,222,000 (28,582,000) 135,167,000
Net earnings (loss) 8,784,000 30,333,000 (23,344,000) 69,969,000 (1,416,182,000)
Preferred stock dividends 9,947,000 9,947,000 9,947,000 29,841,000 29,841,000
Net earnings (loss) available to common and equivalent stockholders, basic (1,163,000) 20,386,000 (33,291,000) 40,128,000 (1,446,023,000)
Net earnings (loss) available to common and equivalent stockholders, diluted $ (1,163,000) $ 20,386,000 $ (33,291,000) $ 40,128,000 $ (1,446,023,000)
Earnings (loss) per share:          
Basic (usd per share) $ (0.01) $ 0.12 $ (0.42) $ 0.24 $ (18.61)
Diluted (usd per share) $ (0.01) $ 0.12 $ (0.42) $ 0.24 $ (18.61)