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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Loans $ 959,714,000 $ 451,973,000 $ 293,830,000
Mortgage loans in process of securitization 12,652,000 8,407,000 12,746,000
Investment securities:      
Available for sale - taxable 21,621,000 2,807,000 3,309,000
Available for sale - tax exempt     41,000
Held to maturity 69,983,000 12,382,000  
Federal Home Loan Bank stock 2,205,000 1,220,000 1,143,000
Other 11,623,000 4,044,000 817,000
Total interest income 1,077,798,000 480,833,000 311,886,000
Interest Expense      
Deposits 577,210,000 149,645,000 28,256,000
Borrowed funds 52,517,000 12,637,000 5,636,000
Total interest expense 629,727,000 162,282,000 33,892,000
Net Interest Income 448,071,000 318,551,000 277,994,000
Provision for credit losses 40,231,000 17,295,000 5,012,000
Net Interest Income After Provision for Credit Losses 407,840,000 301,256,000 272,982,000
Noninterest Income      
Gain on sale of loans 48,183,000 64,150,000 111,185,000
Loan servicing fees, net 26,198,000 30,198,000 16,373,000
Mortgage warehouse fees 7,701,000 5,394,000 12,396,000
Gains on sale of investments available for sale (includes $0, $0 and $191, respectively, related to accumulated other comprehensive earnings reclassifications)     191,000
Syndication and asset management fees 12,355,000 9,493,000 6,507,000
Other income 20,231,000 16,701,000 10,681,000
Total noninterest income 114,668,000 125,936,000 157,333,000
Noninterest Expense      
Salaries and employee benefits 108,181,000 89,085,000 85,727,000
Loan expenses 3,409,000 4,703,000 7,657,000
Occupancy and equipment 9,220,000 8,169,000 7,365,000
Professional fees 12,704,000 9,065,000 5,427,000
Deposit insurance expense 13,582,000 3,463,000 2,691,000
Technology expense 6,515,000 5,282,000 4,200,000
Other expense 20,990,000 16,283,000 12,318,000
Total noninterest expense 174,601,000 136,050,000 125,385,000
Income Before Income Taxes 347,907,000 291,142,000 304,930,000
Provision for income taxes (includes $0, $0 and $46, respectively, related to income tax expense for reclassification items) 68,673,000 71,421,000 77,826,000
Net Income 279,234,000 219,721,000 227,104,000
Dividends on preferred stock (34,670,000) (25,983,000) (20,873,000)
Net Income Allocated to Common Shareholders $ 244,564,000 $ 193,738,000 $ 206,231,000
Basic Earnings Per Share (in dollars per share) $ 5.66 $ 4.49 $ 4.78
Diluted Earnings Per Share (in dollars per share) $ 5.64 $ 4.47 $ 4.76
Weighted-Average Shares Outstanding      
Basic (in shares) 43,224,042 43,164,477 43,172,078
Diluted (in shares) 43,345,799 43,316,904 43,325,303