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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income        
Loans, including fees $ 80,516 $ 52,185 $ 156,476 $ 98,721
Securities 4,683 3,706 9,178 7,098
Overnight deposits 3,086 2,994 5,570 3,909
Other interest and dividends 693 273 1,017 400
Total interest income 88,978 59,158 172,241 110,128
Interest expense        
Deposits 27,403 3,706 49,776 7,331
Borrowed funds 7,461   9,487  
Trust preferred securities 363 150 693 258
Subordinated debt       605
Total interest expense 35,227 3,856 59,956 8,194
Net interest income 53,751 55,302 112,285 101,934
Provision for credit losses 4,305 2,400 4,951 5,800
Net interest income after provision for credit losses 49,446 52,902 107,334 96,134
Non-interest income        
Non-interest income 7,888 7,071 14,836 14,604
Other income 643 282 1,311 682
Total non-interest income 7,855 6,998 14,829 14,425
Non-interest expense        
Compensation and benefits 15,288 13,415 31,543 26,836
Bank premises and equipment 2,287 2,264 4,631 4,380
Professional fees 4,973 1,692 9,160 3,166
Technology costs 1,482 1,144 2,795 2,543
Licensing fees 3,014 2,686 5,676 4,980
FDIC assessments 1,640 1,240 4,454 2,485
Regulatory settlement reserve     (2,500)  
Other expenses 3,758 3,828 7,708 6,498
Total non-interest expense 32,442 26,269 63,467 50,888
Net income before income tax expense 24,859 33,631 58,696 59,671
Income tax expense 9,298 10,442 18,059 17,461
Net income $ 15,561 $ 23,189 $ 40,637 $ 42,210
Earnings per common share        
Basic earnings (in dollars per share) $ 1.39 $ 2.12 $ 3.65 $ 3.86
Diluted earnings (in dollars per share) $ 1.37 $ 2.07 $ 3.59 $ 3.76
Service charges on deposit accounts        
Non-interest income        
Non-interest income $ 1,481 $ 1,474 $ 2,937 $ 2,844
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 $ 5,731 $ 5,242 $ 10,581 $ 10,899
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 $ 676 $ 355 $ 1,318 $ 861