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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans $ 112,047 $ 85,772 $ 347,014 $ 254,971
Mortgage-backed securities 1,498 3,553 5,890 17,465
Investment securities and other 1,392 4,330 7,422 10,184
Total interest income 114,937 93,655 360,326 282,620
Interest expense:        
Deposits 14,620 10,554 46,685 29,594
Securities sold under agreements to repurchase 0 1,342 1,335 6,234
Advances from FHLB and other borrowings 476 550 1,521 1,671
Subordinated capital notes 308 499 1,091 1,537
Total interest expense 15,404 12,945 50,632 39,036
Net interest income 99,533 80,710 309,694 243,584
Provision for credit losses 13,669 43,770 78,496 73,724
Net interest income after provision for credit losses 85,864 36,940 231,198 169,860
Non-interest income:        
Banking service revenue 16,297 10,813 45,678 32,054
Wealth management revenue 7,272 6,611 20,924 19,162
Mortgage banking activities 3,917 1,118 10,223 2,953
Total banking and financial service revenues 27,486 18,542 76,825 54,169
Net gain on:        
Sale of securities 0 3,498 4,728 8,274
Early extinguishment of debt 0 0 (63) (7)
Bargain purchase from Scotiabank PR & USVI acquistion 3,465 0 7,336 0
Other non-interest income 375 138 1,102 346
Total non-interest income, net 31,326 22,178 89,928 62,782
Non-interest expense:        
Compensation and employee benefits 31,955 20,500 102,005 60,716
Occupancy, equipment and infrastructure costs 11,943 7,307 35,220 22,564
Electronic banking charges 8,734 5,505 26,284 15,698
Information technology expenses 5,381 2,247 16,259 6,953
Professional and service fees 3,331 3,662 12,596 10,297
Taxes, other than payroll and income taxes 3,774 2,235 10,123 6,530
Insurance 2,428 (366) 8,667 2,057
Loss on sale of foreclosed real estate, other repossessed assets and credit related expenses 1,323 2,889 6,763 8,839
Loan servicing and clearing expenses 2,345 1,194 4,836 3,562
Advertising, business promotion, and strategic initiatives 1,481 1,333 4,643 3,859
Communication 1,117 956 2,993 2,556
Printing, postage, stationary and supplies 1,094 672 2,767 1,885
Director and investor relations 302 374 928 934
Merger and restructuring charges 2,681 1,556 5,991 2,556
Pandemic expenses 2,090 0 4,266 0
Other 3,465 663 11,906 5,325
Total non-interest expense 83,444 50,727 256,247 154,331
Income before income taxes 33,746 8,391 64,879 78,311
Income tax expense 6,308 1,008 13,853 23,479
Net income 27,438 7,383 51,026 54,832
Less: dividends on preferred stock (1,628) (1,628) (4,884) (4,884)
Income available to common shareholders $ 25,810 $ 5,755 $ 46,142 $ 49,948
Earnings per common share:        
Basic $ 0.50 $ 0.11 $ 0.90 $ 0.97
Diluted $ 0.50 $ 0.11 $ 0.89 $ 0.97
Average common shares outstanding and equivalents 51,527 51,772 51,563 51,695
Cash dividends per share of common stock $ 0.07 $ 0.07 $ 0.21 $ 0.21