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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and dividend income:        
Interest and fees on loans $ 117,736 $ 63,875 $ 334,811 $ 159,707
Interest and dividends on investment securities 6,468 6,460 20,019 17,195
Dividends on non-marketable securities 701 212 2,513 632
Interest on interest-bearing bank deposits 1,205 1,822 3,369 3,196
Total interest and dividend income 126,110 72,369 360,712 180,730
Interest expense:        
Interest on deposits 33,423 2,945 69,615 7,961
Interest on borrowings 4,910 333 18,647 1,000
Total interest expense 38,333 3,278 88,262 8,961
Net interest income before provision for credit losses 87,777 69,091 272,450 171,769
Provision for credit loss expense 1,125 12,678 3,725 14,860
Net interest income after provision for credit losses 86,652 56,413 268,725 156,909
Non-interest income:        
Non-interest income 12,979 9,548 36,463 26,789
Mortgage banking income 4,688 4,474 11,614 21,088
Bank-owned life insurance income 882 573 2,559 1,645
Other non-interest income 3,953 3,304 5,565 5,104
Total non-interest income 19,365 17,358 47,853 53,174
Non-interest expense:        
Salaries and benefits 35,027 30,540 103,231 88,652
Occupancy and equipment 9,167 8,026 27,366 21,087
Data processing 3,546 2,899 10,257 7,733
Marketing and business development 1,037 979 2,997 2,326
FDIC deposit insurance 1,686 508 5,433 1,476
Bank card expenses 1,667 1,409 4,260 4,075
Professional fees 2,215 5,810 7,951 8,110
Other non-interest expense 4,250 3,384 13,003 9,138
Other intangible assets amortization 2,008 383 5,378 975
Total non-interest expense 60,603 53,938 179,876 143,572
Income before income taxes 45,414 19,833 136,702 66,511
Income tax expense 9,327 3,994 27,775 11,958
Net income $ 36,087 $ 15,839 $ 108,927 $ 54,553
Earnings per share-basic (in dollars per share) $ 0.95 $ 0.51 $ 2.87 $ 1.78
Earnings per share-diluted (in dollars per share) $ 0.94 $ 0.50 $ 2.85 $ 1.77
Weighted average number of common shares outstanding:        
Basic (Shares) 37,990,659 31,259,188 37,911,896 30,539,266
Diluted (Shares) 38,134,338 31,531,075 38,093,910 30,834,630
Service charges        
Non-interest income:        
Non-interest income $ 4,849 $ 4,326 $ 13,394 $ 11,992
Bank card fees        
Non-interest income:        
Non-interest income $ 4,993 $ 4,681 $ 14,721 $ 13,345