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Condensed Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:          
Loans and leases $ 372,723 $ 362,303 $ 369,913 $ 1,081,129 $ 1,144,231
Investment securities 38,291 37,616 34,912 113,769 103,051
Deposits in financial institutions 21,527 20,590 42,068 64,807 140,904
Total interest income 432,541 420,509 446,893 1,259,705 1,388,186
Interest expense:          
Deposits 143,074 144,940 180,986 428,544 561,899
Borrowings 20,461 20,021 16,970 58,903 85,405
Subordinated debt 15,562 15,332 16,762 46,234 50,117
Total interest expense 179,097 180,293 214,718 533,681 697,421
Net interest income 253,444 240,216 232,175 726,024 690,765
Provision for credit losses 9,700 39,100 9,000 58,100 30,000
credit losses 243,744 201,116 223,175 667,924 660,765
Noninterest income:          
Leased equipment income 10,321 10,231 17,176 31,336 40,379
Commissions and fees 9,514 9,641 8,256 29,113 25,027
Service charges on deposit accounts 5,109 4,456 4,568 14,108 13,813
(Loss) gain on sale of loans and leases (374) 30 (62) (133) 625
Loss on sale of securities 0 0 (59,946) 0 (59,946)
investments 2,291 (114) 3,730 4,500 7,964
Warrant income 433 1,227 211 1,365 65
LOCOM HFS adjustment 0 (9) (74) (9) 218
Other income 6,991 7,171 10,689 20,288 20,011
Total noninterest income (loss) 34,285 32,633 (15,452) 100,568 48,156
Noninterest expense:          
Compensation 88,865 88,362 85,585 263,644 263,735
Insurance and assessments 8,994 9,403 12,708 25,680 59,600
Customer related expense 26,227 26,577 34,475 80,555 97,799
Occupancy 15,415 15,473 16,892 45,898 52,315
Information Technology and Data Processing 13,535 13,073 14,995 41,707 45,872
Leased equipment depreciation 6,750 6,700 7,144 20,191 22,175
Other professional services 5,394 6,406 5,101 16,313 15,359
Loan expense 4,947 4,050 3,994 11,927 12,817
Intangible asset amortization 7,160 7,159 8,485 21,479 25,373
reorganization costs 0 0 (510) 0 (13,160)
Other expense 8,397 [1] 8,666 7,340 [1] 27,812 [1] 28,485 [1]
Total noninterest expense 185,684 185,869 196,209 555,206 610,370
Earnings before income taxes 92,345 47,880 11,514 213,286 98,551
Income tax expense 22,716 19,495 2,730 61,704 28,582
Net earnings 69,629 [2] 28,385 8,784 [2] 151,582 [2] 69,969 [2]
Preferred stock dividends 9,947 9,947 9,947 29,841 29,841
Net earnings (loss) available to common and equivalent stockholders, basic 59,682 18,438 (1,163) 121,741 $ 40,128
Net earnings (loss) available to common and equivalent stockholders, diluted $ 59,682 $ 18,438 $ (1,163) $ 121,741  
Earnings (loss) per share:          
Basic (usd per share) $ 0.38 $ 0.12 $ (0.01) $ 0.75 $ 0.24
Diluted (usd per share) $ 0.38 $ 0.12 $ (0.01) $ 0.75 $ 0.24
[1] Includes business development expense, communications expense, stationery and supplies, employee related expenses, operating and other losses, OREO expenses, and other corporate overhead and operating expenses.
[2] Segment earnings is the same as net earnings reported on the condensed consolidated statements of earnings.