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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income        
Loans, including fees $ 60,570 $ 42,730 $ 159,291 $ 118,803
Securities        
Taxable 4,075 1,418 11,071 3,322
Tax-exempt 51 51 153 138
Overnight deposits 5,114 666 9,023 1,453
Other interest and dividends 247 153 647 457
Total interest income 70,057 45,018 180,185 124,173
Interest expense        
Deposits 6,505 3,716 13,836 10,452
Trust preferred securities 227 105 485 320
Subordinated debt   405 605 1,214
Total interest expense 6,732 4,226 14,926 11,986
Net interest income 63,325 40,792 165,259 112,187
Provision for loan losses 2,007 490 7,807 3,315
Net interest income after provision for loan losses 61,318 40,302 157,452 108,872
Non-interest income        
Non-interest income 5,908 5,900 20,512 16,078
Unrealized gain (loss) on equity securities (90) (9) (269) (45)
Gain on sale of securities       609
Total non-interest income 5,818 5,891 20,243 16,642
Non-interest expense        
Compensation and benefits 14,568 11,269 41,404 33,907
Bank premises and equipment 2,228 2,038 6,608 6,063
Professional fees 6,086 1,877 9,252 5,183
Technology costs 984 1,090 3,527 3,464
Licensing fees 2,823 2,201 7,803 6,342
Other expenses 4,501 3,509 13,484 9,036
Total non-interest expense 31,190 21,984 82,078 63,995
Net income before income tax expense 35,946 24,209 95,617 61,519
Income tax expense 10,991 7,994 28,452 19,851
Net income $ 24,955 $ 16,215 $ 67,165 $ 41,668
Earnings per common share        
Basic earnings per common share (in dollars per share) $ 2.28 $ 1.82 $ 6.13 $ 4.89
Diluted earnings per common share (in dollars per share) $ 2.23 $ 1.77 $ 5.98 $ 4.76
Service charges on deposit accounts        
Non-interest income        
Non-interest income $ 1,445 $ 1,344 $ 4,289 $ 3,442
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 revenue        
Non-interest income        
Non-interest income $ 4,099 $ 3,942 $ 14,998 $ 11,152
Revenue, Product and Service [Extensible List] Global payments revenue Global payments revenue Global payments revenue Global payments revenue
Other service charges and fees        
Non-interest income        
Non-interest income $ 364 $ 614 $ 1,225 $ 1,484
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