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Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2023
Accounting Policies [Abstract] |
Schedule 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
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic earnings per share |  |  |  |  |  |  |
Net income | $ | 18,763 |  |  | $ | 24,859 |  |  | $ | 36,991 |  |  | $ | 48,422 |
Weighted average common shares outstanding | 43,639,987 |  |  | 43,572,796 |  |  | 43,611,926 |  |  | 43,563,804 |
Basic earnings per share | $ | 0.43 |  |  | $ | 0.57 |  |  | $ | 0.85 |  |  | $ | 1.11 |
Diluted earnings per share |  |  |  |  |  |  |
Net income | $ | 18,763 |  |  | $ | 24,859 |  |  | $ | 36,991 |  |  | $ | 48,422 |
Weighted average common shares outstanding | 43,639,987 |  |  | 43,572,796 |  |  | 43,611,926 |  |  | 43,563,804 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted stock | 102,046 |  |  | 77,296 |  |  | 136,693 |  |  | 107,122 |
Stock options | 555 |  |  | 34,599 |  |  | 8,702 |  |  | 40,896 |
Weighted average common shares outstanding | 43,742,588 |  |  | 43,684,691 |  |  | 43,757,321 |  |  | 43,711,822 |
Diluted earnings per share | $ | 0.43 |  |  | $ | 0.57 |  |  | $ | 0.85 |  |  | $ | 1.11 |
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 Statements of Income
Three Months Ended June 30, 2022
| As Reported |  | Indirect Loan Dealer Reserve Adjustment |  | As Revised
Interest income |  |  |  |  |
Loans receivable | $ | 41,549 |  |  | $ | (964) |  |  | $ | 40,585 |
Total interest income | 57,572 |  |  | (964) |  |  | 56,608 |
Net interest income | 53,008 |  |  | (964) |  |  | 52,044 |
Net interest income after credit loss expense (recovery) | 52,768 |  |  | (964) |  |  | 51,804 |
Non–interest expense |  |  |  |  |
Loan expense | 2,497 |  |  | (964) |  |  | 1,533 |
Total non–interest expense | 36,368 |  |  | (964) |  |  | 35,404 |
Net income | 24,859 |  |  | — |  |  | 24,859 |
Consolidated Statements of Income
Six Months Ended June 30, 2022
| As Reported |  | Indirect Loan Dealer Reserve Adjustment |  | As Revised
Interest income |  |  |  |  |
Loans receivable | $ | 79,428 |  |  | $ | (2,304) |  |  | $ | 77,124 |
Total interest income | 109,654 |  |  | (2,304) |  |  | 107,350 |
Net interest income | 101,179 |  |  | (2,304) |  |  | 98,875 |
Net interest income after credit loss expense (recovery) | 102,325 |  |  | (2,304) |  |  | 100,021 |
Non–interest expense |  |  |  |  |
Loan expense | 5,042 |  |  | (2,304) |  |  | 2,738 |
Total non–interest expense | 72,978 |  |  | (2,304) |  |  | 70,674 |
Net income | 48,422 |  |  | — |  |  | 48,422 |
Additional immaterial reclassifications made to the 2022 condensed consolidated financial statements to be comparable to 2023 are not included within the revision to the consolidated statement of cash flows noted below.
Consolidated Statements of Cash Flows
Six Months Ended June 30, 2022
| As Reported |  | Indirect Loan Dealer Reserve Adjustment |  | Transfer of AFS Securities to HTM Securities |  | As Revised
Operating Activities |  |  |  |  |  |  |
Net change in other assets | $ | (11,986) |  |  | $ | 4,153 |  |  | $ | — |  |  | $ | (7,833) |
Net cash provided by operating activities | 51,381 |  |  | 4,153 |  |  | — |  |  | 55,534 |
Investing activities |  |  |  |  |  |  |
Net change in loans | (294,325) |  |  | (4,153) |  |  | — |  |  | (298,478) |
Net cash used in investing activities | (809,869) |  |  | (4,153) |  |  | — |  |  | (814,022) |
Net Change in Cash and Cash Equivalents | (484,660) |  |  | — |  |  | — |  |  | (484,660) |
Additional Supplemental Information |  |  |  |  |  |  |
Transfer of available for sale securities to held to maturity securities | — |  |  | — |  |  | 120,881 |  |  | 120,881 |

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