XML 46 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income - Unaudited - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans and leases $ 118,444,000 $ 97,815,000 $ 315,126,000 $ 278,986,000
Investment securities 5,867,000 8,495,000 18,589,000 26,932,000
Other 2,407,000 3,735,000 6,030,000 8,731,000
Total interest income 126,718,000 110,045,000 339,745,000 314,649,000
Interest expense:        
Deposits 38,267,000 32,804,000 105,472,000 76,779,000
FHLB advances 7,563,000 9,125,000 20,463,000 27,381,000
Subordinated debt 1,684,000 1,684,000 5,053,000 5,053,000
Other borrowings 3,469,000 2,431,000 9,039,000 9,082,000
Total interest expense 50,983,000 46,044,000 140,027,000 118,295,000
Net interest income 75,735,000 64,001,000 199,718,000 196,354,000
Provision for loan and lease losses 4,426,000 2,924,000 14,539,000 4,257,000
Net interest income after provision for loan and lease losses 71,309,000 61,077,000 185,179,000 192,097,000
Non-interest income:        
Non-interest income 11,779,000 10,297,000 35,370,000 32,352,000
Commercial lease income 3,080,000 1,419,000 8,212,000 3,372,000
Bank-owned life insurance 1,824,000 1,869,000 5,477,000 5,769,000
Mortgage warehouse transactional fees 2,150,000 1,809,000 5,145,000 5,663,000
Gain on sale of SBA and other loans 0 1,096,000 0 3,404,000
Mortgage banking income 283,000 207,000 701,000 532,000
Loss upon acquisition of interest-only GNMA securities 0 0 (7,476,000) 0
Gain (loss) on sale of investment securities 1,001,000 (18,659,000) 1,001,000 (18,659,000)
Unrealized gain (loss) on investment securities 1,333,000 (1,236,000) 988,000 (1,532,000)
Other 3,187,000 6,493,000 9,443,000 11,718,000
Total non-interest income 23,369,000 2,084,000 55,125,000 39,120,000
Non-interest expense:        
Salaries and employee benefits 27,193,000 25,462,000 79,936,000 78,135,000
Technology, communication, and bank operations 8,755,000 11,657,000 33,110,000 32,923,000
Professional services 8,348,000 4,743,000 18,639,000 14,563,000
Occupancy 3,661,000 2,901,000 9,628,000 8,876,000
Commercial lease depreciation 2,459,000 1,103,000 6,633,000 2,838,000
FDIC assessments, non-income taxes, and regulatory fees (777,000) 2,415,000 3,368,000 6,750,000
Provision for operating losses 3,998,000 1,171,000 8,223,000 3,930,000
Advertising and promotion 976,000 820,000 3,145,000 1,529,000
Merger and acquisition related expenses 0 2,945,000 0 3,920,000
Loan workout 495,000 516,000 1,458,000 1,823,000
Other real estate owned expenses 108,000 66,000 151,000 164,000
Other 4,376,000 3,305,000 8,869,000 7,683,000
Total non-interest expense 59,592,000 57,104,000 173,160,000 163,134,000
Income before income tax expense 35,086,000 6,057,000 67,144,000 68,083,000
Income tax expense 8,020,000 28,000 15,343,000 14,250,000
Net income 27,066,000 6,029,000 51,801,000 53,833,000
Preferred stock dividends 3,615,000 3,615,000 10,844,000 10,844,000
Net income (loss) available to common shareholders $ 23,451,000 $ 2,414,000 $ 40,957,000 $ 42,989,000
Basic earnings per common share (usd per share) $ 0.75 $ 0.08 $ 1.32 $ 1.36
Diluted earnings per common share (usd per share) $ 0.74 $ 0.07 $ 1.30 $ 1.33
Interchange and card revenue        
Non-interest income:        
Non-interest income $ 6,869,000 $ 7,084,000 $ 22,435,000 $ 23,127,000
Deposit fees        
Non-interest income:        
Non-interest income $ 3,642,000 $ 2,002,000 $ 9,199,000 $ 5,726,000