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Business Segment Information (Tables)

9 Months Ended

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

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- References

No definition available.

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