XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME:        
Loans receivable $ 140,848 $ 104,506 $ 274,105 $ 204,856
Mortgage-backed securities 18,285 16,819 37,263 30,928
Securities and cash equivalents 12,676 11,676 27,402 20,108
Total interest income 171,809 133,001 338,770 255,892
INTEREST EXPENSE:        
Deposits 20,539 2,008 29,783 4,094
FHLB advances 5,157 0 6,421 291
Other borrowings 771 80 1,152 164
Subordinated debt 2,824 1,902 5,584 3,678
Total interest expense 29,291 3,990 42,940 8,227
Net interest income 142,518 129,011 295,830 247,665
Provision for Loan, Lease, and Other Losses 6,764 4,534 6,240 (2,427)
Net interest income after provision (recapture) for credit losses 135,754 124,477 289,590 250,092
NON-INTEREST INCOME:        
Deposit fees and other service charges 10,600 11,000 21,162 22,189
Mortgage banking operations 1,686 3,978 4,377 8,418
BOLI 2,386 2,239 4,574 3,870
Miscellaneous 1,428 2,051 3,068 3,734
Other operating income 16,100 19,268 33,181 38,211
Net (loss) gain on sale of securities (4,527) 32 (11,779) 467
Net change in valuation of financial instruments carried at fair value (3,151) 69 (3,703) 118
Gain on sale of branches, including related deposits 0 7,804 0 7,804
Total non-interest income 8,422 27,173 17,699 46,600
NON-INTEREST EXPENSE:        
Salary and employee benefits 61,972 60,832 123,361 120,318
Less capitalized loan origination costs (4,457) (7,222) (7,888) (13,452)
Occupancy and equipment 11,994 13,284 23,964 26,504
Information and computer data services 7,082 5,997 14,229 12,648
Payment and card processing services 4,669 5,682 9,287 10,578
Professional and legal expenses 2,400 2,878 4,521 5,058
Advertising and marketing 940 822 1,746 1,283
Deposit insurance 2,839 1,440 4,729 2,964
State and municipal business and use taxes 1,229 1,004 2,529 2,166
Real estate operations, net 75 (121) (202) (200)
Amortization of core deposit intangibles 991 1,425 2,041 2,849
Loss on extinguishment of debt 0 0 0 793
Miscellaneous 5,671 6,032 11,709 11,739
Total non-interest expense 95,405 92,053 190,026 183,248
Income before provision for income taxes 48,771 59,597 117,263 113,444
PROVISION FOR INCOME TAXES 9,180 11,632 22,117 21,516
NET INCOME $ 39,591 $ 47,965 $ 95,146 $ 91,928
Earnings per common share:        
Basic $ 1.15 $ 1.40 $ 2.77 $ 2.68
Diluted 1.15 1.39 2.76 2.66
Common Stock, Dividends, Per Share, Declared $ 0.48 $ 0.44 $ 0.96 $ 0.88
Weighted average number of common shares outstanding, Basic 34,373,434 34,307,001 34,306,853 34,303,889
Weighted average number of common shares outstanding, Diluted 34,409,024 34,451,740 34,435,221 34,532,935