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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans, including fees $ 115,062 $ 107,378 $ 229,314 $ 213,637
Investment securities:        
Taxable interest 17,520 9,873 27,154 19,173
Tax-exempt interest 40 42 79 74
Interest-earning deposits 4,677 8,997 16,561 15,582
Total interest income 137,299 126,290 273,108 248,466
Interest expense        
Deposits 39,999 37,416 79,160 71,876
Short-term borrowings 1,295   1,314 234
Long-term borrowings 685 128 1,371 254
Senior debt 1,234 1,280 2,467 2,559
Subordinated debentures 291 271 583 532
Total interest expense 43,504 39,095 84,895 75,455
Net interest income 93,795 87,195 188,213 173,011
Provision for credit losses on loans 1,477 428 3,840 2,626
Provision reversal for unfunded commitments (225) (67) (419) (362)
Net interest income after provision for credit losses and provision reversal for unfunded commitments 92,543 86,834 184,792 170,747
Non-interest income        
Net realized and unrealized gains on commercial loans, at fair value 503 1,921 1,599 3,646
Leasing related income 1,429 1,511 1,817 3,001
Consumer credit fintech fees 140   140  
Other 895 1,298 1,543 1,578
Total non-interest income 30,722 29,336 60,104 58,325
Non-interest expense        
Salaries and employee benefits 33,863 33,167 64,143 62,952
Depreciation and amortization 1,027 681 1,976 1,402
Rent and related occupancy cost 1,686 1,361 3,326 2,755
Data processing expense 1,423 1,398 2,844 2,719
Printing and supplies 59 128 162 273
Audit expense 319 417 678 809
Legal expense 633 949 1,454 1,907
Amortization of intangible assets 100 100 199 199
FDIC insurance 869 472 1,714 1,427
Software 4,637 4,317 9,126 8,554
Insurance 1,282 1,308 2,620 2,614
Telecom and IT network communications 354 363 625 739
Consulting 562 642 1,140 964
Write-downs and other losses on other real estate owned   165   1,184
Other 4,632 4,475 8,151 9,475
Total non-interest expense 51,446 49,943 98,158 97,973
Income before income taxes 71,819 66,227 146,738 131,099
Income tax expense 18,133 17,218 36,623 32,968
Net income $ 53,686 $ 49,009 $ 110,115 $ 98,131
Net income per share - basic $ 1.05 $ 0.89 $ 2.12 $ 1.78
Net income per share - diluted $ 1.05 $ 0.89 $ 2.10 $ 1.76
Weighted average shares - basic 50,937,055 54,871,681 51,842,097 55,160,642
Weighted average shares - diluted 51,337,491 55,269,640 52,327,122 55,653,950
ACH, Card And Other Payment Processing Fees [Member]        
Non-interest income        
Fees $ 3,000 $ 2,429 $ 5,964 $ 4,600
Prepaid, Debit Card And Related Fees [Member]        
Non-interest income        
Fees $ 24,755 $ 22,177 $ 49,041 $ 45,500