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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans $ 108,211 $ 116,435
Mortgage-backed securities 2,041 2,773
Investment securities and other 730 4,489
Total interest income 110,982 123,697
Interest expense:    
Deposits 12,024 16,620
Securities sold under agreements to repurchase 0 1,002
Advances from FHLB and other borrowings 459 539
Subordinated capital notes 295 435
Total interest expense 12,778 18,596
Net interest income 98,204 105,101
Provision for credit losses 6,324 47,131
Net interest income after provision for credit losses 91,880 57,970
Non-interest income:    
Banking service revenue 16,493 15,713
Wealth management revenue 7,388 7,286
Mortgage banking activities 5,571 3,234
Total banking and financial service revenues 29,452 26,233
Net gain on:    
Sale of securities 0 4,728
Bargain purchase from Scotiabank PR & USVI acquistion 0 409
Other non-interest income 955 80
Total non-interest income, net 30,407 31,450
Non-interest expense:    
Compensation and employee benefits 32,618 35,544
Occupancy, equipment and infrastructure costs 13,128 11,439
Electronic banking charges 8,232 9,588
Information technology expenses 4,254 6,934
Professional and service fees 4,536 5,789
Taxes, other than payroll and income taxes 3,661 3,177
Insurance 2,455 3,478
Foreclosed real estate, other repossessed assets (income) expenses (50) 2,522
Loan servicing and clearing expenses 1,841 1,343
Advertising, business promotion, and strategic initiatives 1,431 1,629
Communication 966 971
Printing, postage, stationary and supplies 1,217 722
Director and investor relations 300 310
Merger and restructuring charges 0 304
Pandemic expenses 1,769 168
Other 1,308 3,404
Total non-interest expense 77,666 87,322
Income before income taxes 44,621 2,098
Income tax expense 14,248 297
Net income 30,373 1,801
Less: dividends on preferred stock (1,255) (1,628)
Income available to common shareholders $ 29,118 $ 173
Earnings per common share:    
Basic $ 0.57 $ 0
Diluted $ 0.56 $ 0
Average common shares outstanding and equivalents 51,616 51,713
Cash dividends per share of common stock $ 0.08 $ 0.07