Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Reporting Information

The following presents the Company’s operating segments. The accounting policies of the segments are substantially the same as those described in Note 1 – Summary of Significant Accounting Policies. Transactions between segments consist primarily of borrowed funds. Intersegment interest expense is allocated to the Factoring and Payments segments based on Federal Home Loan Bank advance rates. Credit loss expense is allocated based on the segment’s allowance for credit losses determination. Noninterest income and expense directly attributable to a segment are assigned to it and the majority of salaries and benefits expense for the Company's executive leadership team is allocated to the Banking segment. Taxes are paid on a consolidated basis and are not allocated for segment purposes. The Factoring segment includes only factoring originated by TBC.


(Dollars in thousands)
Year Ended December 31, 2021	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	189,621	$	185,741	$	12,093	$	100	$	387,555
Intersegment interest allocations	10,389		(9,878)		(511)		—		—
Total interest expense	10,205		—		—		8,220		18,425
Net interest income (expense)	189,805		175,863		11,582		(8,120)		369,130
Credit loss expense (benefit)	(19,016)		9,691		438		57		(8,830)
Net interest income after credit loss expense	208,821		166,172		11,144		(8,177)		377,960
Noninterest income	33,447		13,005		7,451		598		54,501
Noninterest expense	169,114		74,768		39,769		3,856		287,507
Operating income (loss)	$	73,154	$	104,409	$	(21,174)	$	(11,435)	$	144,954


(Dollars in thousands)
Year Ended December 31, 2020	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	207,978	$	109,391	$	4,474	$	272	$	322,115
Intersegment interest allocations	12,815		(12,371)		(444)		—		—
Total interest expense	29,910		—		—		7,477		37,387
Net interest income (expense)	190,883		97,020		4,030		(7,205)		284,728
Credit loss expense (benefit)	20,217		16,042		172		1,898		38,329
Net interest income after credit loss expense	170,666		80,978		3,858		(9,103)		246,399
Gain on sale of subsidiary or division	9,758		—		—		—		9,758
Other noninterest income	29,379		21,010		125		113		50,627
Noninterest expense	151,115		54,011		12,880		4,068		222,074
Operating income (loss)	$	58,688	$	47,977	$	(8,897)	$	(13,058)	$	84,710


(Dollars in thousands)
Year Ended December 31, 2019	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	210,528	$	98,247	$	1,214	$	1,164	$	311,153
Intersegment interest allocations	11,510		(11,294)		(216)		—		—
Total interest expense	48,786		—		—		6,464		55,250
Net interest income (expense)	173,252		86,953		998		(5,300)		255,903
Credit loss expense (benefit)	5,465		2,486		68		(77)		7,942
Net interest income after credit loss expense	167,787		84,467		930		(5,223)		247,961
Noninterest income	26,825		4,727		49		(32)		31,569
Noninterest expense	141,900		51,780		6,720		3,684		204,084
Operating income (loss)	$	52,712	$	37,414	$	(5,741)	$	(8,939)	$	75,446

Total assets and gross loans below include intersegment loans, which eliminate in consolidation.


(Dollars in thousands)
December 31, 2021	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,568,826	$	1,679,495	$	293,212	$	1,009,998	$	(2,595,281)	$	5,956,250
Gross loans	$	4,444,136	$	1,546,361	$	153,176	$	700	$	(1,276,801)	$	4,867,572


(Dollars in thousands)
December 31, 2020	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,791,537	$	1,121,704	$	115,836	$	861,967	$	(1,955,253)	$	5,935,791
Gross loans	$	4,788,093	$	1,036,548	$	84,222	$	800	$	(912,887)	$	4,996,776