XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income:        
Loans, including fees $ 42,730 $ 34,844 $ 118,803 $ 100,655
Securities:        
Taxable 1,418 606 3,322 2,615
Tax-exempt 51   138  
Money market funds       34
Overnight deposits 666 299 1,453 2,266
Other interest and dividends 153 196 457 666
Total interest income 45,018 35,945 124,173 106,236
Interest expense:        
Deposits 3,716 2,681 10,452 11,364
Borrowed funds   423   1,742
Trust preferred securities 105 112 320 461
Subordinated debt interest expense 405 405 1,214 1,214
Total interest expense 4,226 3,621 11,986 14,781
Net interest income 40,792 32,324 112,187 91,455
Provision for loan losses 490 1,137 3,315 7,693
Net interest income after provision for loan losses 40,302 31,187 108,872 83,762
Non-interest income:        
Unrealized gain on equity securities (9)   (45) 55
Gain on sale of securities     609 3,286
Total non-interest income 5,891 3,637 16,642 13,627
Non-interest expense:        
Compensation and benefits 11,269 9,944 33,907 29,962
Bank premises and equipment 2,038 2,111 6,063 6,498
Professional fees 1,877 1,221 5,183 3,058
Licensing fees and technology costs 3,291 2,960 9,806 10,226
Other expenses 3,509 2,694 9,036 6,984
Total non-interest expense 21,984 18,930 63,995 56,728
Net income before income tax expense 24,209 15,894 61,519 40,661
Income tax expense 7,994 5,111 19,851 12,971
Net income $ 16,215 $ 10,783 $ 41,668 $ 27,690
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 1.82 $ 1.30 $ 4.89 $ 3.34
Diluted earnings per common share (in dollars per share) $ 1.77 $ 1.27 $ 4.76 $ 3.27
Service charges on deposit accounts        
Non-interest income:        
Non-interest income $ 1,671 $ 863 $ 4,085 $ 2,747
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
Prepaid third-party debit card income.        
Non-interest income:        
Non-interest income $ 3,615 $ 2,572 $ 10,509 $ 6,301
Revenue, Product and Service [Extensible List] Prepaid third-party debit card income. Prepaid third-party debit card income. Prepaid third-party debit card income. Prepaid third-party debit card income.
Other service charges and fees        
Non-interest income:        
Non-interest income $ 614 $ 202 $ 1,484 $ 1,238
Revenue, Product and Service [Extensible List] Other service charges and fees Other service charges and fees Other service charges and fees Other service charges and fees