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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income        
Loans, including fees $ 104,595 $ 80,516 $ 206,976 $ 156,476
Securities 5,493 4,683 10,637 9,178
Overnight deposits 5,167 3,086 9,321 5,570
Other interest and dividends 506 693 1,162 1,017
Total interest income 115,761 88,978 228,096 172,241
Interest expense        
Deposits 50,555 27,403 97,441 49,776
Borrowed funds 3,287 7,461 8,648 9,487
Trust preferred securities 380 363 759 693
Total interest expense 54,222 35,227 106,848 59,956
Net interest income 61,539 53,751 121,248 112,285
Provision for credit losses 1,538 4,305 2,066 4,951
Net interest income after provision for credit losses 60,001 49,446 119,182 107,334
Non-interest income        
Non-interest income 6,147 7,888 13,174 14,836
Other income 359 643 1,431 1,311
Total non-interest income 6,139 7,855 13,143 14,829
Non-interest expense        
Compensation and benefits 18,532 15,288 38,359 31,543
Bank premises and equipment 2,322 2,287 4,665 4,631
Professional fees 6,916 4,973 12,888 9,160
Technology costs 3,043 1,482 6,054 2,795
Licensing fees 3,180 3,014 6,456 5,676
FDIC assessments 2,925 1,640 5,850 4,454
Regulatory settlement reserve       (2,500)
Other expenses 5,339 3,758 9,885 7,708
Total non-interest expense 42,257 32,442 84,157 63,467
Net income before income tax expense 23,883 24,859 48,168 58,696
Income tax expense 7,084 9,298 15,166 18,059
Net income $ 16,799 $ 15,561 $ 33,002 $ 40,637
Earnings per common share        
Basic earnings (in dollars per share) $ 1.50 $ 1.39 $ 2.96 $ 3.65
Diluted earnings (in dollars per share) $ 1.50 $ 1.37 $ 2.96 $ 3.59
Service charges on deposit accounts        
Non-interest income        
Non-interest income $ 2,094 $ 1,481 $ 3,957 $ 2,937
Revenue, Product and Service [Extensible List] Service charges on deposit accounts Service charges on deposit accounts Service charges on deposit accounts Service charges on deposit accounts
Global Payments Group revenue        
Non-interest income        
Non-interest income $ 3,686 $ 5,731 $ 7,755 $ 10,581
Revenue, Product and Service [Extensible List] Global Payments Group revenue Global Payments Group revenue Global Payments Group revenue Global Payments Group revenue