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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest Income        
Interest and fees on loans $ 123,704 $ 139,836 $ 375,063 $ 415,446
Interest and dividends on investment securities 10,527 12,578 33,875 37,663
Interest on balances with other banks and short-term investments 15,850 21,296 45,945 65,726
Interest on federal funds sold 22 103 73 311
Total interest income 150,103 173,813 454,956 519,146
Interest Expense        
Interest on deposits 79,385 81,190 235,508 237,419
Interest on customer repurchase agreements 202 332 712 977
Interest on other short-term borrowings 332 20,448 11,086 62,856
Interest on long-term borrowings 2,025 0 6,066 0
Total interest expense 81,944 101,970 253,372 301,252
Net Interest Income 68,159 71,843 201,584 217,894
Provision for (reversal of) credit losses 113,215 10,094 277,629 54,228
Provision for (Reversal of) Credit Losses for Unfunded Commitments (38) (1,593) 1,424 (529)
Net Interest Income (Loss) After Provision for (Reversal of) Credit Losses (45,018) 63,342 (77,469) 164,195
Noninterest Income        
Service charges on deposits 1,773 1,747 5,287 5,099
Gain (loss) on sale of loans (3,550) 20 (3,550) 57
Net gain (loss) on sale of investment securities (1,982) 3 (3,832) 10
Increase in the cash surrender value of bank-owned life insurance 5,293 731 14,736 2,143
Other income 961 4,450 4,475 8,563
Total noninterest income 2,495 6,951 17,116 15,872
Noninterest Expense        
Salaries and employee benefits 21,290 21,675 65,198 65,171
Premises and equipment expenses 2,944 2,794 9,166 8,747
Marketing and advertising 1,316 1,588 3,831 4,109
Data processing 3,950 3,435 12,221 10,223
Legal, accounting and professional fees 2,396 3,433 7,068 8,645
FDIC insurance 6,665 7,399 23,704 19,728
Goodwill impairment 0 0 0 104,168
Other expenses 3,336 3,290 9,630 9,311
Total noninterest expense 41,897 43,614 130,818 230,102
Income (Loss) Before Income Tax Expense (84,420) 26,679 (191,171) (50,035)
Income Tax Expense (Benefit) (16,907) 4,864 (55,558) 12,290
Net Income (Loss) $ (67,513) $ 21,815 $ (135,613) $ (62,325)
Earnings (Loss) Per Common Share        
Basic (in dollars per share) $ (2.22) $ 0.72 $ (4.47) $ (2.07)
Diluted (in dollars per share) $ (2.22) $ 0.72 $ (4.47) $ (2.07)