XML 24 R5.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest and dividend income:      
Real estate secured loans $ 773,179 $ 655,868 $ 408,942
Commercial loans 318,268 251,793 128,854
Consumer loans 41,974 36,635 18,439
Available for sale debt securities and Federal Home Loan Bank stock 128,647 85,895 46,790
Held to maturity debt securities 7,694 8,885 9,362
Deposits, federal funds sold and other short-term investments 3,012 7,062 3,433
Total interest and dividend income 1,272,774 1,046,138 615,820
Interest expense:      
Deposits 400,003 349,523 159,459
Borrowed funds 78,754 73,523 55,856
Subordinated debentures 33,452 22,478 1,051
Total interest expense 512,209 445,524 216,366
Net interest income 760,565 600,614 399,454
Provision charge for credit losses 3,581 87,564 28,168
Net interest income after provision for credit losses 756,984 513,050 371,286
Non-interest income:      
Fees 42,827 34,114 24,396
Wealth management income 29,252 30,533 27,669
Insurance agency income 18,299 16,201 13,934
Bank-owned life insurance 10,130 11,709 6,482
Net gain (loss) on securities transactions 843 (2,986) 30
Other income 8,485 4,542 7,318
Total non-interest income 109,836 94,113 79,829
Non-interest expense:      
Compensation and employee benefits 253,133 218,341 148,497
Net occupancy expense 52,789 45,014 32,271
Data processing expense 37,415 35,579 22,993
FDIC Insurance 12,902 12,964 8,578
Advertising and promotion expense 5,530 5,146 4,822
Amortization of intangibles 37,074 28,931 2,952
Merger-related expenses 0 56,867 7,826
Other operating expenses 59,820 54,706 47,397
Total non-interest expense 458,663 457,548 275,336
Income before income tax expense 408,157 149,615 175,779
Income tax expense 116,997 34,090 47,381
Net income $ 291,160 $ 115,525 $ 128,398
Basic earnings per share (in dollars per share) $ 2.23 $ 1.05 $ 1.72
Average basic shares outstanding (in shares) 130,462,418 109,668,911 74,844,489
Diluted earnings per share (in dollars per share) $ 2.23 $ 1.05 $ 1.71
Average diluted shares outstanding (in shares) 130,507,070 109,712,732 74,873,256