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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 99,590 $ 83,652 $ 275,155 $ 230,282
Interest on interest earning deposits with other banks 4,781 3,884 15,244 9,659
Interest on investment securities 675 766 2,395 1,972
Dividends on other investments 33 29 244 215
Total interest income 105,079 88,331 293,038 242,128
INTEREST EXPENSE        
Interest on deposits 32,083 25,451 91,528 61,084
Interest on borrowed funds 809 651 2,150 1,974
Total interest expense 32,892 26,102 93,678 63,058
Net interest income 72,187 62,229 199,360 179,070
PROVISION FOR CREDIT LOSSES 70,257 27,253 215,740 123,203
Net interest income/(expense) after provision for credit losses 1,930 34,976 (16,380) 55,867
NONINTEREST INCOME        
Deposit service charges and fees 952 998 2,806 2,897
Loan referral fees 0 1 168 683
Gain on sales of loans, net 0 107 0 253
Unrealized gain (loss) on equity securities, net 2 5 26 199
Other income 486 291 1,051 824
Noninterest income, excluding BaaS program income and BaaS indemnification income 1,440 1,402 4,051 4,856
Total noninterest income 80,068 34,579 236,941 142,481
NONINTEREST EXPENSE        
Salaries and employee benefits 17,101 18,087 52,090 49,971
Occupancy 1,750 1,224 4,954 3,586
Data processing and software licenses 3,511 2,366 9,327 6,178
Legal and professional expenses 3,597 4,447 10,900 12,154
Point of sale expense 1,351 1,068 3,072 2,635
Excise taxes 762 541 376 1,527
Federal Deposit Insurance Corporation ("FDIC") assessments 740 694 2,113 1,859
Director and staff expenses 559 529 1,429 1,674
Marketing 67 169 134 379
Other expense 1,482 1,523 4,732 4,135
Noninterest expense, excluding BaaS loan and BaaS fraud expense 30,920 30,648 89,127 84,098
BaaS loan and fraud expense 34,696 25,853 91,316 68,976
Total noninterest expense 65,616 56,501 180,443 153,074
Income before provision for income taxes 16,382 13,054 40,118 45,274
PROVISION FOR INCOME TAXES 2,926 2,784 8,266 9,707
NET INCOME $ 13,456 $ 10,270 $ 31,852 $ 35,567
Basic earnings per common share (in usd per share) $ 1.00 $ 0.77 $ 2.38 $ 2.68
Diluted earnings per common share (in usd per share) $ 0.97 $ 0.75 $ 2.32 $ 2.61
Weighted average number of common shares outstanding:        
Basic (in shares) 13,447,066 13,285,974 13,400,414 13,253,184
Diluted (in shares) 13,822,270 13,675,833 13,745,313 13,627,939
BaaS program income        
NONINTEREST INCOME        
Noninterest income $ 6,436 $ 4,401 $ 17,357 $ 11,924
BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 72,192 28,776 215,533 125,701
Servicing and other BaaS fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 1,044 997 3,700 2,840
Transaction fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 1,696 1,036 4,127 3,005
Interchange fees | BaaS program income        
NONINTEREST INCOME        
Noninterest income 1,853 1,216 5,017 2,980
Reimbursement of expenses | BaaS program income        
NONINTEREST INCOME        
Noninterest income 1,843 1,152 4,513 3,099
BaaS credit enhancements | BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 70,108 25,926 210,742 119,315
BaaS fraud enhancements | BaaS indemnification income        
NONINTEREST INCOME        
Noninterest income 2,084 2,850 4,791 6,386
BaaS loan expense        
NONINTEREST EXPENSE        
BaaS loan and fraud expense 32,612 23,003 86,525 62,590
BaaS fraud expense        
NONINTEREST EXPENSE        
BaaS loan and fraud expense $ 2,084 $ 2,850 $ 4,791 $ 6,386