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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans $ 87,323 $ 85,813 $ 173,579 $ 168,351
Investment securities 10,160 12,872 20,874 25,635
Cash, Fed Funds and other 3,640 2,022 9,211 3,772
Total interest income 101,123 100,707 203,664 197,758
Interest expense:        
Deposits 43,535 35,393 86,142 64,763
Borrowings 27,887 21,838 55,670 40,143
Total interest expense 71,422 57,231 141,812 104,906
Net interest income 29,701 43,476 61,852 92,852
Provision for credit losses 0 (369) 0 224
Net interest income after provision for credit losses 29,701 43,845 61,852 92,628
Noninterest income:        
Net gain on loan origination and sale activities 3,036 2,456 5,342 4,866
Loan servicing income 3,410 3,259 6,442 6,298
Deposit fees 2,209 2,704 4,450 5,362
Other 4,572 1,892 6,447 3,975
Total noninterest income 13,227 10,311 22,681 20,501
Noninterest expense:        
Compensation and benefits 27,616 27,776 55,627 57,029
Information services 7,580 7,483 14,922 14,628
Occupancy 5,130 5,790 10,564 11,528
General, administrative and other 10,605 9,875 21,982 20,230
Goodwill impairment charge 0 39,857 0 39,857
Total noninterest expense 50,931 90,781 103,095 143,272
Income (loss) before income taxes (8,003) (36,625) (18,562) (30,143)
Income tax (benefit) expense (1,765) (5,183) (4,827) (3,759)
Net income (loss) $ (6,238) $ (31,442) $ (13,735) $ (26,384)
Net income (loss) per share:        
Basic (in dollars per share) $ (0.33) $ (1.67) $ (0.73) $ (1.41)
Diluted (in dollars per share) $ (0.33) $ (1.67) $ (0.73) $ (1.41)
Weighted average shares outstanding:        
Basic (in shares) 18,857,566 18,775,022 18,857,218 18,765,292
Diluted (in shares) 18,857,566 18,775,022 18,857,218 18,765,292