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Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2022
Accounting Policies [Abstract] |
Summary of Computation of Basic and Diluted Earnings Per Share | The following table shows computation of basic and diluted earnings per share.
| Three Months Ended |  | Six Months Ended
| June 30 |  | June 30
| 2022 |  | 2021 |  | 2022 |  | 2021
Basic earnings per share |  |  |  |  |  |  |
Net income | $ | 24,859 |  |  | $ | 22,173 |  |  | $ | 48,422 |  |  | $ | 42,595 |
Weighted average common shares outstanding | 43,572,796 |  |  | 43,950,501 |  |  | 43,563,804 |  |  | 43,935,111 |
Basic earnings per share | $ | 0.57 |  |  | $ | 0.50 |  |  | $ | 1.11 |  |  | $ | 0.97 |
Diluted earnings per share |  |  |  |  |  |  |
Net income | $ | 24,859 |  |  | $ | 22,173 |  |  | $ | 48,422 |  |  | $ | 42,595 |
Weighted average common shares outstanding | 43,572,796 |  |  | 43,950,501 |  |  | 43,563,804 |  |  | 43,935,111 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted stock | 77,296 |  |  | 106,175 |  |  | 107,122 |  |  | 104,421 |
Stock options | 34,599 |  |  | 54,427 |  |  | 40,896 |  |  | 53,045 |
Weighted average common shares outstanding | 43,684,691 |  |  | 44,111,103 |  |  | 43,711,822 |  |  | 44,092,577 |
Diluted earnings per share | $ | 0.57 |  |  | $ | 0.50 |  |  | $ | 1.11 |  |  | $ | 0.97 |
Schedule of Error Corrections and Prior Period Adjustments | The following tables present the revisions to the line items of our previously issued financial statements to reflect the correction of the errors:
Consolidated Balance Sheet |  |  |  |  |
As of December 31, 2021 | As Reported |  | Adjustment |  | As Revised
Loans, net of allowance for credit losses | $ | 3,553,345 |  |  | $ | 36,986 |  |  | $ | 3,590,331 |
Total assets | 7,374,903 |  |  | 36,986 |  |  | 7,411,889 |
Borrowings | 675,753 |  |  | 36,986 |  |  | 712,739 |
Total liabilities | 6,651,694 |  |  | 36,986 |  |  | 6,688,680 |
Total liabilities and stockholders' equity | 7,374,903 |  |  | 36,986 |  |  | 7,411,889 |
Consolidated Statements of Cash Flows |  |  |  |  |
Six Months Ended June 30, 2021 | As Reported |  | Adjustment |  | As Revised
Net change in loans | $ | 347,010 |  |  | $ | (3,312) |  |  | $ | 343,698 |
Net cash provided by investing activities | (209,009) |  |  | (3,312) |  |  | (212,321) |
Proceeds from borrowings | 83 |  |  | 3,312 |  |  | 3,395 |
Net cash provided by financing activities | 202,691 |  |  | 3,312 |  |  | 206,003 |
Net Change in Cash and Cash Equivalents | 54,460 |  |  | — |  |  | 54,460 |
The following tables present the revisions to the line items of our previously issued financial statements to reflect the correction of the errors:
Note 3 – Securities |  |  |  |  |
As of December 31, 2021 | Amortized Cost
| As Reported |  | Adjustment |  | As Revised
Federal agency mortgage–backed pools | $ | 225,329 |  |  | 31,856 |  |  | 257,185 |
Private labeled mortgage–backed pools | 31,856 |  |  | (31,856) |  |  | — |
Total available for sale investment securities | $ | 257,185 |  |  | — |  |  | 257,185 |
Federal agency mortgage–backed pools | $ | 188,426 |  |  | 59,511 |  |  | 247,937 |
Private labeled mortgage–backed pools | 99,958 |  |  | (59,511) |  |  | 40,447 |
Total held to maturity investment securities | $ | 288,384 |  |  | — |  |  | 288,384 |
| Gross Unrealized Gains
| As Reported |  | Adjustment |  | As Revised
Federal agency mortgage–backed pools | $ | 1,777 |  |  | 137 |  |  | 1,914 |
Private labeled mortgage–backed pools | 137 |  |  | (137) |  |  | — |
Total available for sale investment securities | $ | 1,914 |  |  | — |  |  | 1,914 |
Federal agency mortgage–backed pools | $ | 151 |  |  | 58 |  |  | 209 |
Private labeled mortgage–backed pools | 58 |  |  | (58) |  |  | — |
Total held to maturity investment securities | $ | 209 |  |  | — |  |  | 209 |
| Gross Unrealized Losses
| As Reported |  | Adjustment |  | As Revised
Federal agency mortgage–backed pools | $ | (1,032) |  |  | (376) |  |  | (1,408) |
Private labeled mortgage–backed pools | (376) |  |  | 376 |  |  | — |
Total available for sale investment securities | $ | (1,408) |  |  | — |  |  | (1,408) |
Federal agency mortgage–backed pools | $ | (2,612) |  |  | (1,398) |  |  | (4,010) |
Private labeled mortgage–backed pools | (1,840) |  |  | 1,398 |  |  | (442) |
Total held to maturity investment securities | $ | (4,452) |  |  | — |  |  | (4,452) |
| Fair Value
| As Reported |  | Adjustment |  | As Revised
Federal agency mortgage–backed pools | $ | 226,074 |  |  | 31,617 |  |  | 257,691 |
Private labeled mortgage–backed pools | 31,617 |  |  | (31,617) |  |  | — |
Total available for sale investment securities | $ | 257,691 |  |  | — |  |  | 257,691 |
Federal agency mortgage–backed pools | $ | 185,965 |  |  | 58,171 |  |  | 244,136 |
Private labeled mortgage–backed pools | 98,176 |  |  | (58,171) |  |  | 40,005 |
Total held to maturity investment securities | $ | 284,141 |  |  | — |  |  | 284,141 |

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