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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Loans $ 457,435 $ 339,875 $ 321,381
Mortgage-backed securities 7,558 19,854 31,190
Investment securities and other 8,354 14,066 7,848
Total interest income 473,347 373,795 360,419
Interest expense:      
Deposits 60,198 39,355 32,953
Securities sold under agreements to repurchase 1,335 7,423 7,794
Advances from FHLB and other borrowings 1,988 2,212 1,875
Subordinated capital notes 1,394 2,012 1,903
Total interest expense 64,915 51,002 44,525
Net interest income 408,432 322,793 315,894
Provision for credit losses 92,672 96,792 56,108
Net interest income after provision for credit losses 315,760 226,001 259,786
Non-interest income:      
Banking service revenue 62,579 42,866 43,638
Wealth management revenue 31,789 26,224 25,934
Mortgage banking activities 16,504 4,275 4,767
Total banking and financial service revenues 110,872 73,365 74,339
Net gain on:      
Sale of securities 4,728 8,274 0
Early extinguishment of debt (63) (7) 0
Bargain purchase from Scotiabank PR & USVI acquisition 7,336 315 0
Other non-interest income 1,479 546 5,756
Total non-interest income, net 124,352 82,493 80,095
Non-interest expense:      
Compensation and employee benefits 132,926 82,533 76,524
Occupancy, equipment and infrastructure costs 47,283 30,052 33,084
Electronic banking charges 34,698 21,244 21,234
Information technology expenses 20,823 9,865 8,227
Professional and service fees 17,135 14,629 12,442
Taxes, other than payroll and income taxes 13,831 8,749 9,017
Insurance 11,424 3,309 6,249
Loss on sale of foreclosed real estate, other repossessed assets and credit related expenses 7,767 11,498 13,552
Loan servicing and clearing expenses 6,752 4,853 4,810
Advertising, business promotion, and strategic initiatives 5,851 5,208 5,084
Communication 4,067 3,315 3,447
Printing, postage, stationary and supplies 3,847 2,468 2,217
Director and investor relations 1,174 1,216 1,089
Merger and restructuring charges 16,083 24,054 0
Pandemic expenses 5,795 0 0
Other 15,830 10,251 10,105
Total non-interest expense 345,286 233,244 207,081
Income before income taxes 94,826 75,250 132,800
Income tax expense 20,499 21,409 48,390
Net income 74,327 53,841 84,410
Less: dividends on preferred stock (6,512) (6,512) (12,024)
Income available to common shareholders $ 67,815 $ 47,329 $ 72,386
Earnings per common share:      
Basic $ 1.32 $ 0.92 $ 1.59
Diluted $ 1.32 $ 0.92 $ 1.52
Average common shares outstanding and equivalents 51,555 51,719 51,349
Cash dividends per share of common stock $ 0.28 $ 0.28 $ 0.25