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Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Preferred Stock
 [2]
Voting Common Stock, par value $1.00 per share
Cumulative Effect, Period of Adoption, Adjustment
Preferred Stock
Preferred Stock
Preferred Stock
 [2]
Voting Common Stock, par value $1.00 per share
Voting Common Stock, par value $1.00 per share
Voting Common Stock, par value $1.00 per share
Additional Paid in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Treasury Stock
Voting Common Stock, par value $1.00 per share
Beginning balance at Dec. 31, 2018 $ 956,816       $ 217,471   $ 32,252   $ 434,314 $ 316,651   $ (22,663) $ (21,209)  
Beginning balance, preferred stock (shares) at Dec. 31, 2018         9,000,000                  
Beginning balance, common stock (shares) at Dec. 31, 2018             31,003,028              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income 79,327                 79,327        
Other comprehensive income (loss) 21,413                     21,413    
Preferred stock dividends [1] (14,459)                 (14,459)        
Share-based compensation expense 8,898               8,898          
Issuance of common stock under share-based-compensation arrangements (shares)             364,922              
Issuance of common stock under share-based-compensation arrangements 1,371           $ 365   1,006          
Repurchase of shares (shares)             (31,159)              
Repurchase of common shares, value (571)                       (571)  
Ending balance at Dec. 31, 2019 $ 1,052,795     $ (61,475) $ 217,471   $ 32,617   444,218 381,519 $ (61,475) (1,250) (21,780)  
Ending balance, preferred stock (shares) at Dec. 31, 2019         9,000,000                  
Ending balance, common stock (shares) at Dec. 31, 2019             31,336,791              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Accounting Standards Update [Extensible List] Accounting Standards Update 2016-13                          
Net income $ 132,578                 132,578        
Other comprehensive income (loss) (4,514)                     (4,514)    
Preferred stock dividends [1] (14,041)                 (14,041)        
Share-based compensation expense 12,049               12,049          
Issuance of common stock under share-based-compensation arrangements (shares)             368,297              
Issuance of common stock under share-based-compensation arrangements (306)           $ 369   (675)          
Ending balance at Dec. 31, 2020 $ 1,117,086       $ 217,471   $ 32,986   455,592 438,581   (5,764) (21,780)  
Ending balance, preferred stock (shares) at Dec. 31, 2020 9,000,000       9,000,000                  
Ending balance, common stock (shares) at Dec. 31, 2020 31,705,088           31,705,088              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income $ 314,647                 314,647        
Other comprehensive income (loss) 784                     784    
Preferred stock dividends [1] (11,693)                 (11,693)        
Loss on redemption of preferred stock [2] (2,820)                 (2,820)        
Sale of non-controlling interest in BMT [3] 31,893               31,893          
Distribution of investment in BM Technologies [4] (32,983)                 (32,983)        
Restricted stock awards to certain BMT team members [5] 19,592               19,592          
Share-based compensation expense 13,860               13,860          
Issuance of common stock under share-based-compensation arrangements (shares)             1,735,968              
Issuance of common stock under share-based-compensation arrangements 23,190           $ 1,736   21,454          
Repurchase of shares (shares)           (3,300,000)   (527,789)            
Repurchase of common shares, value   $ (79,677) $ (27,662)     $ (79,677)               $ (27,662)
Ending balance at Dec. 31, 2021 $ 1,366,217       $ 137,794   $ 34,722   $ 542,391 $ 705,732   $ (4,980) $ (49,442)  
Ending balance, preferred stock (shares) at Dec. 31, 2021 5,700,000       5,700,000                  
Ending balance, common stock (shares) at Dec. 31, 2021 32,913,267           32,913,267              
[1] Dividends per share of $1.041346, $1.075982, $1.474384, and $1.50 were declared on Series C, D, E, and F preferred stock for the year ended December 31, 2021. Dividends per share of $1.58, $1.63, $1.61, and $1.50 were declared on Series C, D, E, and F preferred stock for the years ended December 31, 2020. Dividends per share of $1.75, $1.63, $1.61, and $1.50 were declared on Series C, D, E, and F preferred stock for the year ended December 31, 2019.
[2] Refer to NOTE 13 – SHAREHOLDERS' EQUITY for additional information about the redemption of Series C and Series D Preferred Stock.
[3] Refer to NOTE 3 – DISCONTINUED OPERATIONS for additional information about the sale of non-controlling interest in BMT including the reverse recapitalization of MFAC.
[4] Immediately after the closing of the BMT divestiture, Customers distributed all of its remaining investment in BM Technologies' common stock to its shareholders as special dividends, equivalent to 0.15389 of BM Technologies common stock for each share of Customers common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.
[5] At the closing of the BMT divestiture, certain team members of BMT received restricted stock awards in BM Technologies' common stock. Refer to NOTE 3 – DISCONTINUED OPERATIONS.