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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income        
Loans $ 47,908 $ 26,616 $ 120,148 $ 81,440
Commercial paper 0 411 1,300 869
Debt securities available for sale 1,183 384 3,012 1,319
Other investments and interest-bearing deposits 1,575 784 3,535 2,360
Total interest and dividend income 50,666 28,195 127,995 85,988
Interest expense        
Deposits 7,864 1,151 12,862 4,028
Junior subordinated debt 109 0 109 0
Borrowings 1,239 4 1,505 45
Total interest expense 9,212 1,155 14,476 4,073
Net interest income 41,454 27,040 113,519 81,915
Provision (benefit) for credit losses 8,760 (45) 14,987 (4,005)
Net interest income after provision (benefit) for credit losses 32,694 27,085 98,532 85,920
Noninterest income        
Service charges and fees on deposit accounts 2,256 2,216 7,117 7,101
Loan income and fees 562 752 1,779 2,536
Gain on sale of loans held for sale 1,811 2,969 4,499 10,927
BOLI income 522 492 1,543 1,500
Operating lease income 1,505 1,661 4,246 4,920
Gain (loss) on sale of premises and equipment 900 0 2,015 (87)
Other 754 857 2,963 2,496
Total noninterest income 8,310 8,947 24,162 29,393
Noninterest expense        
Salaries and employee benefits 16,246 14,730 45,545 44,882
Occupancy expense, net 2,467 2,483 7,291 7,201
Computer services 2,911 2,686 8,470 7,817
Telephone, postage, and supplies 613 623 1,791 1,946
Marketing and advertising 372 573 1,443 2,110
Deposit insurance premiums 612 412 1,700 1,280
Core deposit intangible amortization 606 50 666 208
Merger-related expenses 4,741 0 5,465 0
Other 4,265 4,242 12,627 12,194
Total noninterest expense 32,833 25,799 84,998 77,638
Net income before income taxes 8,171 10,233 37,696 37,675
Income tax expense 1,437 2,210 8,105 8,047
Net income $ 6,734 $ 8,023 $ 29,591 $ 29,628
Net income per common share        
Basic (in dollars per share) $ 0.40 $ 0.51 $ 1.91 $ 1.87
Diluted (in dollars per share) $ 0.40 $ 0.51 $ 1.90 $ 1.84
Average shares outstanding        
Basic (in shares) 16,021,994 15,523,813 15,341,222 15,666,093
Diluted (in shares) 16,077,116 15,793,012 15,449,060 15,997,377