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Accounting Policies (Tables) | 9 Months Ended
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Sep. 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 |  | Nine Months Ended
| September 30 |  | September 30
| 2022 |  | 2021 |  | 2022 |  | 2021
Basic earnings per share |  |  |  |  |  |  |
Net income | $ | 23,821 |  |  | $ | 23,071 |  |  | $ | 72,243 |  |  | $ | 65,666 |
Weighted average common shares outstanding | 43,573,370 |  |  | 43,810,729 |  |  | 43,567,028 |  |  | 43,893,194 |
Basic earnings per share | $ | 0.55 |  |  | $ | 0.53 |  |  | $ | 1.66 |  |  | $ | 1.50 |
Diluted earnings per share |  |  |  |  |  |  |
Net income | $ | 23,821 |  |  | $ | 23,071 |  |  | $ | 72,243 |  |  | $ | 65,666 |
Weighted average common shares outstanding | 43,573,370 |  |  | 43,810,729 |  |  | 43,567,028 |  |  | 43,893,194 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted stock | 92,405 |  |  | 99,666 |  |  | 92,718 |  |  | 102,446 |
Stock options | 38,018 |  |  | 48,475 |  |  | 39,289 |  |  | 51,403 |
Weighted average common shares outstanding | 43,703,793 |  |  | 43,958,870 |  |  | 43,699,035 |  |  | 44,047,043 |
Diluted earnings per share | $ | 0.55 |  |  | $ | 0.52 |  |  | $ | 1.65 |  |  | $ | 1.49 |
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 |  |  |  |  |
Nine Months Ended September 30, 2021 | As Reported |  | Adjustment |  | As Revised
Net change in loans | $ | 412,873 |  |  | $ | (2,156) |  |  | $ | 410,717 |
Net cash provided by investing activities | (138,780) |  |  | (2,156) |  |  | (140,936) |
Proceeds from borrowings | 225,375 |  |  | 2,156 |  |  | 227,531 |
Net cash provided by financing activities | 772,067 |  |  | 2,156 |  |  | 774,223 |
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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