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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 and dividend income:        
Interest and fees on loans $ 111,954 $ 51,737 $ 217,075 $ 95,832
Interest and dividends on investment securities 6,690 5,873 13,551 10,735
Dividends on non-marketable securities 914 211 1,812 420
Interest on interest-bearing bank deposits 1,511 1,015 2,164 1,374
Total interest and dividend income 121,069 58,836 234,602 108,361
Interest expense:        
Interest on deposits 25,143 2,485 36,192 5,016
Interest on borrowings 6,142 334 13,737 667
Total interest expense 31,285 2,819 49,929 5,683
Net interest income before provision for credit losses 89,784 56,017 184,673 102,678
Provision for credit loss expense 1,700 2,504 2,600 2,182
Net interest income after provision for credit losses 88,084 53,513 182,073 100,496
Non-interest income:        
Non-interest income 13,413 8,497 23,484 16,330
Mortgage banking income 3,710 6,948 6,926 16,614
Bank-owned life insurance income 1,032 540 1,677 1,072
Other non-interest income (454) 777 1,612 1,800
Total non-interest income 13,823 16,762 28,488 35,816
Non-interest expense:        
Salaries and benefits 35,215 28,776 68,204 58,112
Occupancy and equipment 9,126 6,665 18,199 13,061
Data processing 2,959 2,453 6,711 4,834
Marketing and business development 1,090 674 1,960 1,347
FDIC deposit insurance 1,569 486 3,747 968
Bank card expenses 1,265 1,398 2,593 2,666
Professional fees 3,146 1,486 5,736 2,300
Other non-interest expense 4,604 3,318 8,753 5,754
Other intangible assets amortization 2,007 296 3,370 592
Total non-interest expense 60,981 45,552 119,273 89,634
Income before income taxes 40,926 24,723 91,288 46,678
Income tax expense 8,369 4,361 18,448 7,964
Net income $ 32,557 $ 20,362 $ 72,840 $ 38,714
Earnings per share-basic (in dollars per share) $ 0.86 $ 0.67 $ 1.92 $ 1.28
Earnings per share-diluted (in dollars per share) $ 0.85 $ 0.67 $ 1.91 $ 1.27
Weighted average number of common shares outstanding:        
Basic (Shares) 37,957,287 30,225,898 37,871,862 30,173,338
Diluted (Shares) 38,107,326 30,493,265 38,092,708 30,492,613
Service charges        
Non-interest income:        
Non-interest income $ 4,444 $ 3,956 $ 8,545 $ 7,666
Bank card fees        
Non-interest income:        
Non-interest income $ 5,091 $ 4,541 $ 9,728 $ 8,664