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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME      
Interest and fees on loans $ 159,635 $ 116,583 $ 75,282
Interest on deposits with banks 21,043 1,637 506
Interest on investment securities 5,576 3,496 2,405
Interest on tax-exempt loans and securities 3,564 4,241 5,236
Total interest income 189,818 125,957 83,429
INTEREST EXPENSE      
Interest on deposits 61,660 10,476 3,977
Interest on short-term borrowings 890 443 105
Interest on subordinated debt 3,219 3,072 2,188
Interest on senior term loan 766 163 0
Total interest expense 66,535 14,154 6,270
NET INTEREST INCOME 123,283 111,803 77,159
Provision (release of allowance) for credit losses (1,921) 14,194 (6,275)
Net interest income after provision (release of allowance) for credit losses 125,204 97,609 83,434
NONINTEREST INCOME      
Payment card and service charge income 13,776 11,648 7,524
Insurance and investment services income 335 849 1,003
Gain (loss) on sale of available-for-sale securities, net (1,536) 650 3,875
Gain (loss) on sale of equity securities, net (269) (56) 5
Loss on derivatives, net (659) 0 0
Gain (loss) on sale of loans, net (744) 1,655 4,178
Holding gain (loss) on equity securities 146 (1,543) 3,776
Compliance and consulting income 4,312 4,598 2,557
Equity method investments income (loss) (2,499) (713) 17,428
Equity method investment gain 0 1,874 0
Gain (loss) on acquisition and divestiture activity (986) 0 10,783
Gain on sale of assets 0 4,978 0
Other operating income 7,839 3,625 4,724
Total noninterest income 19,715 27,565 55,853
NONINTEREST EXPENSES      
Salaries and employee benefits 63,371 62,534 52,965
Occupancy expense 3,701 4,051 4,347
Equipment depreciation and maintenance 5,558 5,496 4,598
Data processing and communications 4,878 4,198 4,431
Professional fees 18,344 15,661 13,726
Insurance, tax and assessment expense 4,436 2,605 2,032
Travel, entertainment, dues and subscriptions 6,825 6,836 4,617
Other operating expenses 10,512 8,765 5,092
Total noninterest expense 117,625 110,146 91,808
Income from continuing operations, before income taxes 27,294 15,028 47,479
Income taxes 5,070 3,294 9,641
Net income from continuing operations 22,224 11,734 37,838
Income from discontinued operations, before income taxes 11,831 3,487 1,099
Income taxes 3,049 834 241
Net income from discontinued operations 8,782 2,653 858
Net income 31,006 14,387 38,696
Net loss attributable to noncontrolling interest 226 660 425
Net income attributable to parent 31,232 15,047 39,121
Preferred dividends 0 0 35
Net income available to common shareholders $ 31,232 $ 15,047 $ 39,086
Earnings per share from continuing operations - basic (in dollars per share) $ 1.77 $ 1.01 $ 3.25
Earnings per share from discontinued operations - basic (in dollars per share) 0.69 0.22 0.07
Earnings per common share - basic (in dollars per share) 2.46 1.23 3.32
Earnings per share from continuing operations - diluted (in dollars per share) 1.72 0.96 3.03
Earnings per share from discontinued operations - diluted (in dollars per share) 0.68 0.21 0.07
Earnings per common share - diluted (in dollars per share) $ 2.40 $ 1.17 $ 3.10
Weighted average shares outstanding - basic (in shares) 12,694,206 12,279,462 11,778,557
Weighted average shares outstanding - diluted (in shares) 12,997,332 12,870,734 12,613,620