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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Loans receivable $ 63,003 $ 45,517 $ 178,961 $ 122,641
Investment securities – taxable 8,788 8,436 26,253 24,500
Investment securities – tax exempt 7,002 7,478 21,617 21,482
Other 1,332 65 1,960 223
Total interest income 80,125 61,496 228,791 168,846
Interest Expense        
Deposits 24,704 4,116 58,481 7,289
Borrowed funds 11,224 3,895 30,713 6,425
Subordinated notes 880 880 2,641 2,641
Junior subordinated debentures issued to capital trusts 1,227 744 3,469 1,755
Total interest expense 38,035 9,635 95,304 18,110
Net Interest Income 42,090 51,861 133,487 150,736
Credit loss expense (recovery) 263 (601) 1,185 (1,747)
Net Interest Income after Credit Loss Expense (Recovery) 41,827 52,462 132,302 152,483
Non–interest Income        
Service charges on deposit accounts 3,086 3,023 9,135 8,651
Wire transfer fees 120 148 345 477
Interchange fees 3,186 3,089 9,637 9,451
Fiduciary activities 1,206 1,203 3,728 4,111
Gain (loss) on sale of investment securities 0 0 (480) 0
Gain on sale of mortgage loans 1,582 1,441 3,372 5,969
Mortgage servicing income, net 631 355 1,984 4,163
Increase in cash value of bank owned life insurance 1,055 814 3,051 1,843
Death benefit on bank owned life insurance 0 0 0 644
Other income 964 115 1,675 1,468
Total non–interest income 11,830 10,188 32,447 36,777
Non–interest Expense        
Salaries and employee benefits 20,058 20,613 58,932 60,305
Net occupancy expenses 3,283 3,293 10,095 10,044
Data processing 2,999 2,539 8,684 7,683
Professional fees 707 552 1,873 1,149
Outside services and consultants 2,316 2,855 7,548 7,865
Loan expense 1,120 1,392 3,635 4,130
FDIC insurance expense 1,300 670 2,680 2,170
Core deposit intangible amortization 903 926 2,709 2,777
Other losses 188 398 543 928
Other expense 3,294 3,578 10,255 10,439
Total non–interest expense 36,168 36,816 106,954 107,490
Income Before Income Taxes 17,489 25,834 57,795 81,770
Income tax expense 1,284 2,013 4,599 9,527
Net Income $ 16,205 $ 23,821 $ 53,196 $ 72,243
Basic earnings per share (in USD per share) $ 0.37 $ 0.55 $ 1.22 $ 1.66
Diluted earnings per share (in USD per share) $ 0.37 $ 0.55 $ 1.21 $ 1.65