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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans $ 56,117 $ 57,538 $ 166,763 $ 172,275
Investment securities 5,130 5,667 16,091 16,053
Cash, Fed Funds and other 141 532 472 960
Total interest income 61,388 63,737 183,326 189,288
Interest expense:        
Deposits 2,507 5,986 8,930 28,944
Borrowings 1,397 2,067 4,423 7,730
Total interest expense 3,904 8,053 13,353 36,674
Net interest income 57,484 55,684 169,973 152,614
Provision for credit losses (5,000) 0 (9,000) 20,469
Net interest income after provision for credit losses 62,484 55,684 178,973 132,145
Noninterest income:        
Net gain on loan origination and sale activities 17,509 33,130 72,239 85,698
Loan servicing income (loss) 2,014 (1,582) 4,693 6,921
Deposit fees 2,091 1,769 5,912 5,225
Other 2,684 2,838 8,511 7,543
Total noninterest income 24,298 36,155 91,355 105,387
Noninterest expense:        
Compensation and benefits 31,175 34,570 101,388 101,429
Information services 6,902 7,401 20,635 22,330
Occupancy 5,705 8,354 18,170 23,082
General, administrative and other 8,167 7,732 21,179 24,052
Total noninterest expense 51,949 58,057 161,372 170,893
Income before income taxes 34,833 33,782 108,956 66,639
Income tax expense 7,663 7,433 22,966 14,247
Net income $ 27,170 $ 26,349 $ 85,990 $ 52,392
Net income per share:        
Basic (in dollars per share) $ 1.32 $ 1.16 $ 4.08 $ 2.26
Diluted (in dollars per share) $ 1.31 $ 1.15 $ 4.03 $ 2.24
Weighted average shares outstanding:        
Basic (in shares) 20,613,290 22,665,069 21,099,059 23,226,109
Diluted (in shares) 20,819,601 22,877,226 21,352,715 23,403,729