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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans and leases $ 996,517 $ 743,949 $ 734,012
Investment securities 200,659 119,236 40,413
Interest earning deposits 125,923 10,952 1,585
Loans held for sale 36,221 1,364 2,810
Other 8,040 9,872 2,064
Total interest income 1,367,360 885,373 780,884
Interest expense:      
Deposits 576,437 226,239 62,641
FHLB advances 80,008 11,464 6,211
FRB advances 6,286 0 9,229
Subordinated debt 10,755 10,755 10,755
Other borrowings 6,425 13,195 6,974
Total interest expense 679,911 261,653 95,810
Net interest income 687,449 623,720 685,074
Provision for credit losses 74,611 60,066 27,426
Net interest income after provision for credit losses 612,838 563,654 657,648
Non-interest income:      
Commercial lease income 36,179 27,719 21,107
Loan fees 20,216 12,188 7,527
Bank-owned life insurance 11,777 15,697 8,416
Mortgage warehouse transactional fees 4,395 6,738 12,874
Gain (loss) on sale of SBA and other loans (1,200) 3,155 11,327
Loss on sale of capital call lines of credit (5,037) 0 0
Loss on sale of consumer installment loans 0 (23,465) 0
Net gain (loss) on sale of investment securities (574) (23,164) 31,392
Loss on sale of foreign subsidiaries 0 0 (2,840)
Loss on cash flow hedge derivative terminations 0 0 (24,467)
Legal settlement gain 0 7,519 0
Other 4,809 5,885 12,531
Total non-interest income 70,565 32,272 77,867
Non-interest expense:      
Salaries and employee benefits 133,275 112,365 108,202
Technology, communication and bank operations 65,550 84,998 83,544
Commercial lease depreciation 29,898 22,978 17,824
Professional services 35,177 27,465 26,688
Loan servicing 17,075 15,023 10,763
Occupancy 10,070 13,606 12,143
FDIC assessments, non-income taxes, and regulatory fees 35,036 8,869 10,061
Advertising and promotion 3,095 2,541 1,520
Deposit relationship adjustment fees 0 0 6,216
Legal settlement expense 4,096 0 0
Other 19,391 16,784 17,346
Total non-interest expense 352,663 304,629 294,307
Income before income tax expense 330,740 291,297 441,208
Income tax expense 80,597 63,263 86,940
Net income from continuing operations 250,143 228,034 354,268
Loss from discontinued operations before income tax expense 0 0 (20,354)
Income tax expense from discontinued operations 0 0 19,267
Net loss from discontinued operations 0 0 (39,621)
Net income 250,143 228,034 314,647
Preferred stock dividends 14,695 9,632 11,693
Loss on redemption of preferred stock 0 0 2,820
Net income available to common shareholders 235,448 218,402 300,134
Net income available to common shareholders $ 235,448 $ 218,402 $ 300,134
Basic earnings per common share from continuing operations (usd per share) $ 7.49 $ 6.69 $ 10.51
Basic earnings per common share (usd per share) 7.49 6.69 9.29
Diluted earnings (loss) per common share from continuing operations (usd per share) 7.32 6.51 10.08
Diluted earnings per common share (usd per share) $ 7.32 $ 6.51 $ 8.91