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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans $ 85,813 $ 59,825 $ 168,351 $ 112,779
Investment securities 12,872 7,379 25,635 13,345
Cash, Fed Funds and other 2,022 487 3,772 595
Total interest income 100,707 67,691 197,758 126,719
Interest expense:        
Deposits 35,393 2,893 64,763 5,177
Borrowings 21,838 4,742 40,143 6,940
Total interest expense 57,231 7,635 104,906 12,117
Net interest income 43,476 60,056 92,852 114,602
Provision for credit losses (369) 0 224 (9,000)
Net interest income after provision for credit losses 43,845 60,056 92,628 123,602
Noninterest income:        
Net gain on loan origination and sale activities 2,456 5,292 4,866 13,566
Loan servicing income 3,259 3,661 6,298 6,965
Deposit fees 2,704 2,218 5,362 4,293
Other 1,892 1,842 3,975 3,747
Total noninterest income 10,311 13,013 20,501 28,571
Noninterest expense:        
Compensation and benefits 27,776 30,191 57,029 62,222
Information services 7,483 7,780 14,628 14,842
Occupancy 5,790 5,898 11,528 12,263
General, administrative and other 9,875 6,768 20,230 15,783
Goodwill impairment charge 39,857 0 39,857 0
Total noninterest expense 90,781 50,637 143,272 105,110
Income (loss) before income taxes (36,625) 22,432 (30,143) 47,063
Income tax expense (benefit) (5,183) 4,711 (3,759) 9,391
Net income (loss) $ (31,442) $ 17,721 $ (26,384) $ 37,672
Net income (loss) per share:        
Basic (in dollars per share) $ (1.67) $ 0.95 $ (1.41) $ 1.97
Diluted (in dollars per share) $ (1.67) $ 0.94 $ (1.41) $ 1.95
Weighted average shares outstanding:        
Basic (in shares) 18,775,022 18,706,953 18,765,292 19,143,925
Diluted (in shares) 18,775,022 18,834,443 18,765,292 19,310,750