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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME:      
Loans receivable $ 450,916,000 $ 445,731,000 $ 466,360,000
Mortgage-backed securities 67,585,000 45,723,000 31,792,000
Securities and cash equivalents 54,068,000 29,046,000 20,994,000
Total interest income 572,569,000 520,500,000 519,146,000
INTEREST EXPENSE:      
Deposits 10,124,000 11,770,000 25,015,000
FHLB advances 489,000 2,592,000 5,023,000
Other borrowings 377,000 467,000 603,000
Subordinated debt 8,400,000 8,780,000 7,204,000
Total interest expense 19,390,000 23,609,000 37,845,000
Net interest income 553,179,000 496,891,000 481,301,000
PROVISION (RECAPTURE) FOR CREDIT LOSSES 10,364,000 (33,388,000) 67,875,000
Net interest income after provision (recapture) for credit losses 542,815,000 530,279,000 413,426,000
NON-INTEREST INCOME      
Deposit fees and other service charges 44,459,000 39,495,000 34,384,000
Mortgage banking operations 10,834,000 33,948,000 51,083,000
Bank Owned Life Insurance Income 7,794,000 5,000,000 5,972,000
Miscellaneous 6,805,000 12,875,000 6,821,000
Other operating income 69,892,000 91,318,000 98,260,000
Net (loss) gain on sale of securities (3,248,000) 482,000 1,012,000
Net change in valuation of financial instruments carried at fair value 807,000 4,616,000 (656,000)
Gain on sale of branches, including related deposits 7,804,000 0 0
Total non-interest income 75,255,000 96,416,000 98,616,000
NON-INTEREST EXPENSE:      
Salary and employee benefits 242,266,000 244,351,000 245,400,000
Less capitalized loan origination costs (24,313,000) (34,401,000) (34,848,000)
Occupancy and equipment 52,018,000 52,850,000 53,362,000
Information and computer data services 25,986,000 24,356,000 24,386,000
Payment and card processing services 21,195,000 20,544,000 16,095,000
Professional and legal expenses 14,005,000 22,274,000 12,093,000
Advertising and marketing 3,959,000 6,036,000 6,412,000
Deposit insurance 6,649,000 5,583,000 6,516,000
State and municipal business and use taxes 4,693,000 4,343,000 4,355,000
Real estate operations, net (104,000) (22,000) (190,000)
Amortization of core deposit intangibles 5,279,000 6,571,000 7,732,000
Loss on extinguishment of debt 793,000 2,284,000 0
Miscellaneous 24,869,000 24,236,000 22,712,000
Total other operating expense, before acquisition related costs 377,295,000 379,005,000 364,025,000
COVID-19 expenses 0 436,000 3,502,000
Merger and acquisition - related expenses 0 660,000 2,062,000
Total non-interest expense 377,295,000 380,101,000 369,589,000
Income before provision for income taxes 240,775,000 246,594,000 142,453,000
PROVISION FOR INCOME TAXES 45,397,000 45,546,000 26,525,000
NET INCOME $ 195,378,000 $ 201,048,000 $ 115,928,000
Earnings per common share:      
Basic (in dollars per share) $ 5.70 $ 5.81 $ 3.29
Diluted (in dollars per share) 5.67 5.76 3.26
Cumulative dividends declared per common share (in dollars per share) $ 1.76 $ 1.64 $ 1.23
Weighted average number of common shares outstanding:      
Basic 34,264,322 34,610,056 35,264,252
Diluted 34,459,922 34,919,188 35,528,848