XML 14 R3.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Earnings - USD ($)
3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Interest income:      
Loans and leases $ 346,103,000 $ 357,303,000 $ 385,465,000
Investment securities 37,862,000 37,743,000 34,303,000
Deposits in financial institutions 22,690,000 29,473,000 58,936,000
Total interest income 406,655,000 424,519,000 478,704,000
Interest expense:      
Deposits 140,530,000 154,085,000 194,807,000
Borrowings 18,421,000 18,993,000 38,124,000
Subordinated debt 15,340,000 16,156,000 16,671,000
Total interest expense 174,291,000 189,234,000 249,602,000
Net interest income 232,364,000 235,285,000 229,102,000
Provision for credit losses 9,300,000 12,801,000 10,000,000
credit losses 223,064,000 222,484,000 219,102,000
Noninterest income:      
Leased equipment income 10,784,000 10,730,000 11,716,000
Other commissions and fees 9,958,000 8,231,000 8,142,000
Service charges on deposit accounts 4,543,000 4,770,000 4,705,000
Gain (loss) on sale of loans and leases 211,000 20,000 (448,000)
Loss on sale of securities 0 (454,000) 0
investments 2,323,000 18,000 3,068,000
Warrant (loss) income (295,000) 343,000 178,000
LOCOM HFS adjustment 0 (3,000) 330,000
Other income 6,126,000 5,334,000 6,125,000
Total noninterest income 33,650,000 28,989,000 33,816,000
Noninterest expense:      
Compensation 86,417,000 77,661,000 92,236,000
Insurance and assessments 7,283,000 11,179,000 20,461,000
Customer related expense 27,751,000 31,672,000 30,919,000
Occupancy 15,010,000 15,678,000 17,968,000
processing 15,099,000 14,546,000 15,418,000
Leased equipment depreciation 6,741,000 7,096,000 7,520,000
Other professional services 4,513,000 5,498,000 5,075,000
Loan expense 2,930,000 4,489,000 4,491,000
Intangible asset amortization 7,160,000 7,770,000 8,404,000
reorganization costs 0 (1,023,000) 0
Other expense 10,749,000 6,804,000 8,026,000
Total noninterest expense 183,653,000 181,370,000 210,518,000
Earnings before income taxes 73,061,000 70,103,000 42,400,000
Income tax expense (19,493,000) (13,184,000) (11,548,000)
Net earnings 53,568,000 56,919,000 30,852,000
Preferred stock dividends 9,947,000 9,947,000 9,947,000
Net earnings (loss) available to common and equivalent stockholders, basic 43,621,000 46,972,000 20,905,000
Net earnings (loss) available to common and equivalent stockholders, diluted $ 43,621,000 $ 46,972,000 $ 20,905,000
Earnings (loss) per share:      
Basic (usd per share) $ 0.26 $ 0.28 $ 0.12
Diluted (usd per share) $ 0.26 $ 0.28 $ 0.12