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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans $ 59,825 $ 57,078 $ 112,779 $ 110,646
Investment securities 7,379 5,010 13,345 10,961
Cash, Fed Funds and other 487 159 595 331
Total interest income 67,691 62,247 126,719 121,938
Interest expense:        
Deposits 2,893 2,773 5,177 6,423
Borrowings 4,742 1,502 6,940 3,026
Total interest expense 7,635 4,275 12,117 9,449
Net interest income 60,056 57,972 114,602 112,489
Provision for credit losses 0 (4,000) (9,000) (4,000)
Net interest income after provision for credit losses 60,056 61,972 123,602 116,489
Noninterest income:        
Net gain on loan origination and sale activities 5,292 21,271 13,566 54,730
Loan servicing income 3,661 1,931 6,965 2,679
Deposit fees 2,218 1,997 4,293 3,821
Other 1,842 3,025 3,747 5,827
Total noninterest income 13,013 28,224 28,571 67,057
Noninterest expense:        
Compensation and benefits 30,191 34,378 62,222 70,213
Information services 7,780 6,949 14,842 13,733
Occupancy 5,898 5,973 12,263 12,465
General, administrative and other 6,768 5,515 15,783 13,012
Total noninterest expense 50,637 52,815 105,110 109,423
Income before income taxes 22,432 37,381 47,063 74,123
Income tax expense 4,711 8,224 9,391 15,303
Net income $ 17,721 $ 29,157 $ 37,672 $ 58,820
Net income per share:        
Basic (in dollars per share) $ 0.95 $ 1.38 $ 1.97 $ 2.76
Diluted (in dollars per share) $ 0.94 $ 1.37 $ 1.95 $ 2.72
Weighted average shares outstanding:        
Basic (in shares) 18,706,953 21,057,473 19,143,925 21,345,969
Diluted (in shares) 18,834,443 21,287,974 19,310,750 21,623,298