XML 17 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans $ 137,616 $ 128,993 $ 275,610 $ 249,843
Interest and dividends on investment securities 12,405 14,241 25,085 27,786
Interest on balances with other banks and short-term investments 19,568 13,229 44,430 19,003
Interest on federal funds sold 142 47 208 125
Total interest income 169,731 156,510 345,333 296,757
Interest Expense        
Interest on deposits 76,846 59,422 156,229 108,376
Interest on customer repurchase agreements 330 333 645 635
Interest on borrowings 21,202 24,944 42,408 40,911
Total interest expense 98,378 84,699 199,282 149,922
Net Interest Income 71,353 71,811 146,051 146,835
Provision for Credit Losses 8,959 5,238 44,134 11,402
Provision for Credit Losses for Unfunded Commitments 608 318 1,064 1,166
Net Interest Income After Provision for Credit Losses 61,786 66,255 100,853 134,267
Noninterest Income        
Service charges on deposits 1,653 1,626 3,352 3,136
Gain on sale of loans 37 95 37 400
Net gain (loss) on sale of investment securities 3 2 7 (19)
Increase in the cash surrender value of bank-owned life insurance 709 648 1,412 1,303
Other income 2,930 6,224 4,113 7,475
Total noninterest income 5,332 8,595 8,921 12,295
Noninterest Expense        
Salaries and employee benefits 21,770 21,957 43,496 46,131
Premises and equipment expenses 2,894 3,227 5,953 6,544
Marketing and advertising 1,662 884 2,521 1,520
Data processing 3,495 3,354 6,788 6,453
Legal, accounting and professional fees 2,705 2,649 5,212 5,903
FDIC insurance 5,917 2,581 12,329 4,067
Goodwill impairment 104,168 0 104,168 0
Other expenses 3,880 3,326 6,021 7,944
Total noninterest expense 146,491 37,978 186,488 78,562
(Loss) Income Before Income Tax Expense (79,373) 36,872 (76,714) 68,000
Income Tax Expense 4,429 8,180 7,426 15,074
Net (Loss) Income $ (83,802) $ 28,692 $ (84,140) $ 52,926
(Loss) Earnings Per Common Share        
Basic (in dollars per share) $ (2.78) $ 0.94 $ (2.79) $ 1.72
Diluted (in dollars per share) $ (2.78) $ 0.94 $ (2.79) $ 1.72