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v3.23.3

Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
Three months ended September 30, 2023 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Consolidated
Total interest income |  | $ | 68,328 |  |  | $ | 34,244 |  |  | $ | 4,917 |  |  | $ | 44 |  |  | $ | 107,533 |
Intersegment interest allocations |  | 8,330 |  |  | (9,664) |  |  | 1,334 |  |  | — |  |  | — |
Total interest expense |  | 13,723 |  |  | — |  |  | — |  |  | 2,483 |  |  | 16,206 |
Net interest income (expense) |  | 62,935 |  |  | 24,580 |  |  | 6,251 |  |  | (2,439) |  |  | 91,327 |
Credit loss expense (benefit) |  | 410 |  |  | 375 |  |  | 14 |  |  | 13 |  |  | 812 |
Net interest income after credit loss expense |  | 62,525 |  |  | 24,205 |  |  | 6,237 |  |  | (2,452) |  |  | 90,515 |
Noninterest income |  | 5,978 |  |  | 2,546 |  |  | 4,817 |  |  | 69 |  |  | 13,410 |
Noninterest expense |  | 31,503 |  |  | 18,371 |  |  | 14,556 |  |  | 21,829 |  |  | 86,259 |
Net intersegment noninterest income (expense)(1) |  | — |  |  | 242 |  |  | (242) |  |  | — |  |  | — |
Net income (loss) before income tax expense |  | $ | 37,000 |  |  | $ | 8,622 |  |  | $ | (3,744) |  |  | $ | (24,212) |  |  | $ | 17,666 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
Three months ended September 30, 2022 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Consolidated
Total interest income |  | $ | 49,864 |  |  | $ | 49,561 |  |  | $ | 3,756 |  |  | $ | 44 |  |  | $ | 103,225 |
Intersegment interest allocations |  | 5,890 |  |  | (5,470) |  |  | (420) |  |  | — |  |  | — |
Total interest expense |  | 2,925 |  |  | — |  |  | — |  |  | 2,030 |  |  | 4,955 |
Net interest income (expense) |  | 52,829 |  |  | 44,091 |  |  | 3,336 |  |  | (1,986) |  |  | 98,270 |
Credit loss expense (benefit) |  | 2,388 |  |  | (52) |  |  | 235 |  |  | 75 |  |  | 2,646 |
Net interest income after credit loss expense |  | 50,441 |  |  | 44,143 |  |  | 3,101 |  |  | (2,061) |  |  | 95,624 |
Noninterest income |  | 6,166 |  |  | 2,941 |  |  | 3,518 |  |  | 43 |  |  | 12,668 |
Noninterest expense |  | 31,496 |  |  | 24,811 |  |  | 14,066 |  |  | 16,316 |  |  | 86,689 |
Net intersegment noninterest income (expense)(1) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) before income tax expense |  | $ | 25,111 |  |  | $ | 22,273 |  |  | $ | (7,447) |  |  | $ | (18,334) |  |  | $ | 21,603 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
Nine months ended September 30, 2023 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Consolidated
Total interest income |  | $ | 193,678 |  |  | $ | 108,769 |  |  | $ | 11,115 |  |  | $ | 131 |  |  | $ | 313,693 |
Intersegment interest allocations |  | 23,420 |  |  | (28,176) |  |  | 4,756 |  |  | — |  |  | — |
Total interest expense |  | 30,305 |  |  | — |  |  | — |  |  | 7,228 |  |  | 37,533 |
Net interest income (expense) |  | 186,793 |  |  | 80,593 |  |  | 15,871 |  |  | (7,097) |  |  | 276,160 |
Credit loss expense (benefit) |  | 3,164 |  |  | 2,405 |  |  | 55 |  |  | 444 |  |  | 6,068 |
Net interest income after credit loss expense |  | 183,629 |  |  | 78,188 |  |  | 15,816 |  |  | (7,541) |  |  | 270,092 |
Noninterest income |  | 17,998 |  |  | 5,104 |  |  | 12,643 |  |  | 198 |  |  | 35,943 |
Noninterest expense |  | 95,677 |  |  | 60,358 |  |  | 46,912 |  |  | 62,989 |  |  | 265,936 |
Net intersegment noninterest income (expense)(1) |  | — |  |  | (120) |  |  | 120 |  |  | — |  |  | — |
Net income (loss) before income tax expense |  | $ | 105,950 |  |  | $ | 22,814 |  |  | $ | (18,333) |  |  | $ | (70,332) |  |  | $ | 40,099 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
Nine months ended September 30, 2022 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Consolidated
Total interest income |  | $ | 138,286 |  |  | $ | 161,789 |  |  | $ | 12,760 |  |  | $ | 132 |  |  | $ | 312,967 |
Intersegment interest allocations |  | 10,741 |  |  | (9,900) |  |  | (841) |  |  | — |  |  | — |
Total interest expense |  | 7,549 |  |  | — |  |  | — |  |  | 5,641 |  |  | 13,190 |
Net interest income (expense) |  | 141,478 |  |  | 151,889 |  |  | 11,919 |  |  | (5,509) |  |  | 299,777 |
Credit loss expense (benefit) |  | 2,638 |  |  | 1,961 |  |  | 405 |  |  | 1,044 |  |  | 6,048 |
Net interest income after credit loss expense |  | 138,840 |  |  | 149,928 |  |  | 11,514 |  |  | (6,553) |  |  | 293,729 |
Noninterest income |  | 34,419 |  |  | 20,333 |  |  | 17,069 |  |  | 128 |  |  | 71,949 |
Noninterest expense |  | 91,313 |  |  | 70,454 |  |  | 46,062 |  |  | 46,031 |  |  | 253,860 |
Net intersegment noninterest income (expense)(1) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) before income tax expense |  | $ | 81,946 |  |  | $ | 99,807 |  |  | $ | (17,479) |  |  | $ | (52,456) |  |  | $ | 111,818 |
(1) Net intersegment noninterest income (expense) includes:
(Dollars in thousands) |  | Factoring |  | Payments
Three Months Ended September 30, 2023 |  |  |  |
Factoring revenue received from Payments |  | $ | 510 |  |  | $ | (510) |
Payments revenue received from Factoring |  | (268) |  |  | 268 |
Net intersegment noninterest income (expense) |  | $ | 242 |  |  | $ | (242) |
Three Months Ended September 30, 2022 |  |  |  |
Factoring revenue received from Payments |  | $ | — |  |  | $ | — |
Payments revenue received from Factoring |  | — |  |  | — |
Net intersegment noninterest income (expense) |  | $ | — |  |  | $ | — |
Nine months ended September 30, 2023 |  |  |  |
Factoring revenue received from Payments |  | $ | 680 |  |  | $ | (680) |
Payments revenue received from Factoring |  | (800) |  |  | 800 |
Net intersegment noninterest income (expense) |  | $ | (120) |  |  | $ | 120 |
Nine months ended September 30, 2022 |  |  |  |
Factoring revenue received from Payments |  | $ | — |  |  | $ | — |
Payments revenue received from Factoring |  | — |  |  | — |
Net intersegment noninterest income (expense) |  | $ | — |  |  | $ | — |
Total assets and gross loans below include intersegment loans, which eliminate in consolidation.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2023 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Eliminations |  | Consolidated
Total assets |  | $ | 5,136,313 |  |  | $ | 1,139,922 |  |  | $ | 484,895 |  |  | $ | 1,039,766 |  |  | $ | (2,201,102) |  |  | $ | 5,599,794 |
Gross loans |  | $ | 3,766,692 |  |  | $ | 1,041,448 |  |  | $ | 172,254 |  |  | $ | — |  |  | $ | (608,866) |  |  | $ | 4,371,528 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2022 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Eliminations |  | Consolidated
Total assets |  | $ | 4,910,628 |  |  | $ | 1,260,209 |  |  | $ | 371,948 |  |  | $ | 1,061,662 |  |  | $ | (2,270,664) |  |  | $ | 5,333,783 |
Gross loans |  | $ | 3,572,716 |  |  | $ | 1,151,727 |  |  | $ | 85,722 |  |  | $ | — |  |  | $ | (689,874) |  |  | $ | 4,120,291 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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