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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income        
Loans $ 126,871 $ 74,843 $ 244,364 $ 137,317
Securities and other 18,554 12,536 33,377 24,885
Total interest and dividend income 145,425 87,379 277,741 162,202
Interest expense        
Deposits 35,966 4,170 62,048 8,344
Borrowings 16,700 1,851 25,401 3,437
Total interest expense 52,666 6,021 87,449 11,781
Net interest income 92,759 81,358 190,292 150,421
Non-interest income        
Total fee income 17,253 15,512 33,266 33,772
Other, net (137) 1,812 222 4,978
Fair value adjustments on securities (22) (973) 212 (1,718)
Total non-interest income 17,094 16,351 33,700 37,032
Total net revenue 109,853 97,709 223,992 187,453
Provision expense/(benefit) for credit losses 8,000 0 16,999 (4,000)
Non-interest expense        
Compensation and benefits 39,960 37,830 79,031 75,351
Occupancy and equipment 8,970 9,438 18,349 19,505
Technology and communications 10,465 8,611 19,936 17,138
Marketing and promotion 1,510 1,472 2,718 2,583
Professional services 2,526 2,913 5,803 5,605
FDIC premiums and assessments 1,834 658 3,260 1,645
Other real estate owned and foreclosures 0 23 0 23
Amortization of intangible assets 1,205 1,286 2,410 2,572
Acquisition, restructuring, and other expenses 21 35 (15) 53
Other 7,557 6,209 14,511 12,550
Total non-interest expense 74,048 68,475 146,003 137,025
Income before income taxes 27,805 29,234 60,990 54,428
Income tax expense 3,944 6,119 9,492 11,117
Net income $ 23,861 $ 23,115 $ 51,498 $ 43,311
Basic earnings per common share (in dollars per share) $ 0.55 $ 0.50 $ 1.18 $ 0.93
Diluted earnings per common share (in dollars per share) $ 0.55 $ 0.50 $ 1.18 $ 0.92
Weighted average shares outstanding:        
Basic (in shares) 43,443 45,818 43,564 46,733
Diluted (in shares) 43,532 46,102 43,780 47,074
Deposit related fees        
Non-interest income        
Total fee income $ 8,571 $ 8,005 $ 16,882 $ 15,356
Loan fees and other        
Non-interest income        
Total fee income 3,189 1,113 5,658 6,052
Gain on SBA loan sales        
Non-interest income        
Total fee income 2,910 3,619 5,404 6,964
Wealth management fees        
Non-interest income        
Total fee income $ 2,583 $ 2,775 $ 5,322 $ 5,400