|
Revenue from contract with customer
|
|
$8.3m
|
$11.6m
|
$12.9m
|
$30.3m
|
$36.3m
|
$227.2m
|
$332.0m
|
$264.3m
|
|
Interest and fees on loans
|
|
$36.5m
|
$45.4m
|
$61.9m
|
$82.1m
|
$183.4m
|
$311.4m
|
$372.0m
|
$397.6m
|
|
Interest on interest earning deposits with other banks
|
|
$1.4m
|
$2.4m
|
$663k
|
$608k
|
$6.7m
|
$15.3m
|
$21.3m
|
$29.0m
|
|
Interest on investment securities
|
|
$618k
|
$635k
|
$230k
|
$79k
|
$1.7m
|
$3.2m
|
$3.1m
|
$2.5m
|
|
Dividends on other investments
|
|
$156k
|
$179k
|
$235k
|
$284k
|
$345k
|
$387k
|
$435k
|
$531k
|
|
Interest on deposits
|
|
$3.1m
|
$5.8m
|
$4.3m
|
$2.3m
|
$19.0m
|
$89.0m
|
$120.9m
|
$116.9m
|
|
Interest on borrowed funds
|
|
$785k
|
$774k
|
$1.4m
|
$1.3m
|
$1.4m
|
$2.6m
|
$2.8m
|
$2.6m
|
|
Net interest income
|
|
$34.8m
|
$42.0m
|
$57.4m
|
$79.4m
|
$171.8m
|
$238.7m
|
$273.0m
|
$310.1m
|
|
PROVISION FOR CREDIT LOSSES
|
|
|
|
|
$9.9m
|
$79.1m
|
$184.0m
|
$277.6m
|
$192.6m
|
|
Service charges and fees
|
|
—
|
—
|
—
|
$3.7m
|
$3.8m
|
$3.9m
|
$3.7m
|
$3.6m
|
|
Loan referral fees
|
|
—
|
—
|
—
|
$2.1m
|
$810k
|
$683k
|
$168k
|
$0
|
|
Gain on sales of loans, net
|
|
$264k
|
$490k
|
$82k
|
$396k
|
$0
|
$253k
|
$0
|
$0
|
|
Unrealized gain (loss) on equity securities, net
|
|
—
|
—
|
($400k)
|
$1.5m
|
($153k)
|
$279k
|
$27k
|
($414k)
|
|
Other income
|
|
$519k
|
$487k
|
$141k
|
$939k
|
$1.1m
|
$884k
|
$1.5m
|
$3.3m
|
|
Noninterest income, excluding BaaS program income and BaaS indemnification income
|
|
—
|
—
|
—
|
$10.8m
|
$5.8m
|
$6.0m
|
$5.5m
|
$6.5m
|
|
Salaries and employee benefits
|
|
$16.0m
|
$19.0m
|
$23.3m
|
$37.1m
|
$52.2m
|
$66.5m
|
$70.1m
|
$85.8m
|
|
Occupancy
|
|
$3.3m
|
$3.8m
|
$4.0m
|
$4.1m
|
$4.5m
|
$4.9m
|
$3.9m
|
$4.0m
|
|
Data processing and software licenses
|
|
—
|
—
|
$1.3m
|
$2.8m
|
$6.5m
|
$8.6m
|
$15.3m
|
$23.5m
|
|
Excise taxes
|
|
$559k
|
$719k
|
$1.1m
|
$1.6m
|
$2.2m
|
$2.0m
|
$1.2m
|
$2.9m
|
|
Federal Deposit Insurance Corporation ("FDIC") assessments
|
|
$295k
|
$184k
|
$522k
|
$1.6m
|
$2.9m
|
$2.5m
|
$2.9m
|
$3.2m
|
|
Marketing
|
|
$391k
|
$393k
|
$317k
|
$451k
|
$351k
|
$517k
|
$162k
|
$631k
|
|
PROVISION FOR INCOME TAXES
|
|
$2.5m
|
$3.5m
|
$4.0m
|
$7.4m
|
$10.0m
|
$12.6m
|
$12.1m
|
$14.3m
|
|
Basic (in shares)
|
|
$10.4m
|
$11.9m
|
$11.9m
|
$12.0m
|
$12.9m
|
$13.3m
|
$13.5m
|
$15.1m
|
|
Diluted (in shares)
|
|
$10.6m
|
$12.2m
|
$12.2m
|
$12.5m
|
$13.5m
|
$13.6m
|
$13.9m
|
$15.4m
|
|
Total interest income
|
|
$38.7m
|
$48.6m
|
$63.0m
|
$83.1m
|
$192.2m
|
$330.4m
|
$396.8m
|
$429.6m
|
|
Total noninterest income
|
|
$5.5m
|
$8.3m
|
$8.2m
|
$28.1m
|
$124.7m
|
$207.2m
|
$308.2m
|
$231.6m
|
|
Income before provision for income taxes
|
|
$12.2m
|
$16.7m
|
$19.1m
|
$34.4m
|
$50.6m
|
$57.1m
|
$57.3m
|
$61.2m
|
|
NET INCOME
|
|
$9.7m
|
$13.2m
|
$15.1m
|
$27.0m
|
$40.6m
|
$44.6m
|
$45.2m
|
$47.0m
|
|
Basic earnings per common share (in usd per share)
|
|
$0.93
|
$1.11
|
$1.27
|
$2.25
|
$3.14
|
$3.36
|
$3.35
|
$3.12
|
|
Diluted earnings per common share (in usd per share)
|
|
$0.91
|
$1.08
|
$1.24
|
$2.16
|
$3.01
|
$3.27
|
$3.26
|
$3.06
|
|
Net interest income/(expense) after provision for credit losses
|
|
$33.0m
|
$39.5m
|
$49.1m
|
$69.5m
|
$92.7m
|
$54.7m
|
($4.6m)
|
$117.4m
|
|
Legal and professional expenses
|
|
$677k
|
$1.1m
|
$1.8m
|
$3.1m
|
$6.8m
|
$14.8m
|
$15.5m
|
$20.3m
|
|
Point of sale expense
|
|
$2.0m
|
$2.1m
|
$2.3m
|
$3.0m
|
$2.1m
|
$3.5m
|
$325k
|
$350k
|
|
Director and staff expenses
|
|
$701k
|
$1.0m
|
$800k
|
$1.2m
|
$1.7m
|
$2.2m
|
$2.1m
|
$2.7m
|
|
Other expense
|
|
$2.0m
|
$2.4m
|
$3.7m
|
$3.8m
|
$4.7m
|
$5.2m
|
$6.5m
|
$7.5m
|
|
Noninterest expense, excluding BaaS loan and BaaS fraud expense
|
|
—
|
—
|
—
|
$58.8m
|
$83.9m
|
$110.7m
|
$117.9m
|
$150.7m
|
|
BaaS loan and fraud expense
|
|
—
|
—
|
$294k
|
$4.5m
|
$82.9m
|
$94.1m
|
$128.4m
|
$137.1m
|
|
Total interest expense
|
|
$3.9m
|
$6.6m
|
$5.7m
|
$3.6m
|
$20.4m
|
$91.6m
|
$123.7m
|
$119.6m
|
|
Total noninterest expense
|
|
$26.2m
|
$31.1m
|
$38.1m
|
$63.3m
|
$166.8m
|
$204.8m
|
$246.3m
|
$287.8m
|