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Consolidated Income Statements (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans $ 57,078 $ 55,728 $ 110,646 $ 114,737
Investment securities 5,010 5,999 10,961 10,386
Cash, Fed Funds and other 159 75 331 428
Total interest income 62,247 61,802 121,938 125,551
Interest expense:        
Deposits 2,773 8,175 6,423 22,958
Borrowings 1,502 2,131 3,026 5,663
Total interest expense 4,275 10,306 9,449 28,621
Net interest income 57,972 51,496 112,489 96,930
Provision for credit losses (4,000) 6,469 (4,000) 20,469
Net interest income after provision for credit losses 61,972 45,027 116,489 76,461
Noninterest income:        
Net gain on loan origination and sale activities 21,271 30,027 54,730 52,568
Loan servicing income 1,931 2,402 2,679 8,503
Deposit fees 1,997 1,566 3,821 3,456
Other 3,025 2,607 5,827 4,705
Total noninterest income 28,224 36,602 67,057 69,232
Noninterest expense:        
Compensation and benefits 34,378 34,427 70,213 66,859
Information services 6,949 7,405 13,733 14,929
Occupancy 5,973 7,959 12,465 14,728
General, administrative and other 5,515 7,861 13,012 16,320
Total noninterest expense 52,815 57,652 109,423 112,836
Income before income taxes 37,381 23,977 74,123 32,857
Income tax expense 8,224 5,073 15,303 6,814
Net income $ 29,157 $ 18,904 $ 58,820 $ 26,043
Net income per share:        
Basic (in dollars per share) $ 1.38 $ 0.81 $ 2.76 $ 1.11
Diluted (in dollars per share) $ 1.37 $ 0.81 $ 2.72 $ 1.10
Weighted average shares outstanding:        
Basic (in shares) 21,057,473 23,330,494 21,345,969 23,509,712
Diluted (in shares) 21,287,974 23,479,845 21,623,298 23,670,063