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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Loans $ 73,329 $ 56,117 $ 186,108 $ 166,763
Investment securities 9,014 5,130 22,359 16,091
Cash, Fed Funds and other 1,060 141 1,655 472
Total interest income 83,403 61,388 210,122 183,326
Interest expense:        
Deposits 8,321 2,507 13,498 8,930
Borrowings 12,064 1,397 19,004 4,423
Total interest expense 20,385 3,904 32,502 13,353
Net interest income 63,018 57,484 177,620 169,973
Provision for credit losses 0 (5,000) (9,000) (9,000)
Net interest income after provision for credit losses 63,018 62,484 186,620 178,973
Noninterest income:        
Net gain on loan origination and sale activities 2,647 17,509 16,213 72,239
Loan servicing income 2,741 2,014 9,706 4,693
Deposit fees 2,223 2,091 6,516 5,912
Other 5,711 2,684 9,458 8,511
Total noninterest income 13,322 24,298 41,893 91,355
Noninterest expense:        
Compensation and benefits 27,341 31,175 89,563 101,388
Information services 7,038 6,902 21,880 20,635
Occupancy 6,052 5,705 18,315 18,170
General, administrative and other 9,458 8,167 25,241 21,179
Total noninterest expense 49,889 51,949 154,999 161,372
Income before income taxes 26,451 34,833 73,514 108,956
Income tax expense 6,084 7,663 15,475 22,966
Net income $ 20,367 $ 27,170 $ 58,039 $ 85,990
Net income per share:        
Basic (in dollars per share) $ 1.09 $ 1.32 $ 3.05 $ 4.08
Diluted (in dollars per share) $ 1.08 $ 1.31 $ 3.03 $ 4.03
Weighted average shares outstanding:        
Basic (in shares) 18,716,864 20,613,290 19,000,007 21,099,059
Diluted (in shares) 18,796,737 20,819,601 19,137,848 21,352,715