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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans $ 85,899 $ 73,329 $ 254,250 $ 186,108
Investment securities 12,309 9,014 37,944 22,359
Cash, Fed Funds and other 2,498 1,060 6,270 1,655
Total interest income 100,706 83,403 298,464 210,122
Interest expense:        
Deposits 33,840 8,321 98,603 13,498
Borrowings 27,954 12,064 68,097 19,004
Total interest expense 61,794 20,385 166,700 32,502
Net interest income 38,912 63,018 131,764 177,620
Provision for credit losses (1,110) 0 (886) (9,000)
Net interest income after provision for credit losses 40,022 63,018 132,650 186,620
Noninterest income:        
Net gain on loan origination and sale activities 2,372 2,647 7,238 16,213
Loan servicing income 3,092 2,741 9,390 9,706
Deposit fees 2,455 2,223 7,817 6,516
Other 2,545 5,711 6,520 9,458
Total noninterest income 10,464 13,322 30,965 41,893
Noninterest expense:        
Compensation and benefits 27,002 27,341 84,031 89,563
Information services 7,579 7,038 22,207 21,880
Occupancy 5,306 6,052 16,834 18,315
General, administrative and other 9,202 9,458 29,432 25,241
Goodwill impairment charge 0 0 39,857 0
Total noninterest expense 49,089 49,889 192,361 154,999
Income (loss) before income taxes 1,397 26,451 (28,746) 73,514
Income tax expense (benefit) (898) 6,084 (4,657) 15,475
Net income (loss) $ 2,295 $ 20,367 $ (24,089) $ 58,039
Net income (loss) per share:        
Basic (in dollars per share) $ 0.12 $ 1.09 $ (1.28) $ 3.05
Diluted (in dollars per share) $ 0.12 $ 1.08 $ (1.28) $ 3.03
Weighted average shares outstanding:        
Basic (in shares) 18,792,893 18,716,864 18,774,593 19,000,007
Diluted (in shares) 18,792,893 18,796,737 18,774,593 19,137,848