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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 52,328 $ 19,383 $ 122,126 $ 56,978
Interest on interest earning deposits with other banks 2,273 170 3,631 314
Interest on investment securities 554 24 1,188 76
Dividends on other investments 24 31 195 169
Total interest income 55,179 19,608 127,140 57,537
INTEREST EXPENSE        
Interest on deposits 5,717 523 7,943 1,811
Interest on borrowed funds 273 278 854 992
Total interest expense 5,990 801 8,797 2,803
Net interest income 49,189 18,807 118,343 54,734
PROVISION FOR LOAN LOSSES 18,428 255 45,464 973
Net interest income after provision for loan losses 30,761 18,552 72,879 53,761
NONINTEREST INCOME        
Deposit service charges and fees 986 956 2,858 2,768
Loan referral fees 0 723 810 2,126
Gain on sales of loans, net 0 206 0 367
Mortgage broker fees 24 187 232 702
Unrealized (loss) gain on equity securities, net (133) 1,472 (135) 1,472
Gain on sale of bank branch including deposits and loans, net 0 0 0 1,263
Other income 236 302 814 542
Noninterest income, excluding BaaS program income and BaaS indemnification income 1,113 3,846 4,579 9,240
Total noninterest income 34,391 6,132 81,869 13,898
NONINTEREST EXPENSE        
Salaries and employee benefits 14,506 9,961 37,829 26,560
Occupancy 1,147 1,037 3,366 3,085
Data processing and software licenses 1,670 1,333 4,719 3,457
Legal and professional fees 2,251 796 3,961 2,182
Point of sale expense 742 212 1,399 475
Excise taxes 588 407 1,501 1,154
Federal Deposit Insurance Corporation ("FDIC") assessments 850 400 2,309 820
Director and staff expenses 475 274 1,196 812
Marketing 69 130 242 344
Other expense 1,522 865 4,318 2,419
Noninterest expense, excluding BaaS loan and BaaS fraud expense 23,820 15,415 60,840 41,308
BaaS loan and fraud expense 27,267 715 58,831 905
Total noninterest expense 51,087 16,130 119,671 42,213
Income before provision for income taxes 14,065 8,554 35,077 25,446
PROVISION FOR INCOME TAXES 2,964 1,870 7,570 5,731
NET INCOME $ 11,101 $ 6,684 $ 27,507 $ 19,715
Basic earnings per common share (in usd per share) $ 0.86 $ 0.56 $ 2.13 $ 1.65
Diluted earnings per common share (in usd per share) $ 0.82 $ 0.54 $ 2.04 $ 1.58
Weighted average number of common shares outstanding:        
Basic (in shares) 12,938,200 11,999,899 12,921,814 11,982,009
Diluted (in shares) 13,536,823 12,456,674 13,484,950 12,465,346
BaaS program income        
NONINTEREST INCOME        
Noninterest income $ 3,642 $ 1,980 $ 9,327 $ 4,352
BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 29,636 306 67,963 306
Servicing and other BaaS fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 1,079 1,313 3,407 3,046
Transaction fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 940 146 2,247 264
Interchange fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 738 188 1,798 333
Reimbursement of expenses | BaaS program income        
NONINTEREST INCOME        
Noninterest income 885 333 1,875 709
BaaS credit enhancements | BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 17,928 10 45,210 10
BaaS fraud enhancements | BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 11,708 296 22,753 296
BaaS loan expense        
NONINTEREST EXPENSE        
BaaS loan and fraud expense 15,560 419 36,079 609
BaaS fraud expense        
NONINTEREST EXPENSE        
BaaS loan and fraud expense $ 11,707 $ 296 $ 22,752 $ 296