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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Income      
Loans $ 451,973 $ 293,830 $ 263,915
Mortgage loans in process of securitization 8,407 12,746 11,122
Investment securities:      
Available for sale - taxable 2,807 3,309 3,147
Available for sale - tax exempt   41 123
Held to maturity 12,382    
Federal Home Loan Bank stock 1,220 1,143 1,558
Other 4,044 817 2,925
Total interest income 480,833 311,886 282,790
Interest Expense      
Deposits 149,645 28,256 52,238
Borrowed funds 12,637 5,636 6,406
Total interest expense 162,282 33,892 58,644
Net Interest Income 318,551 277,994 224,146
Provision for credit losses 17,295 5,012 11,838
Net Interest Income After Provision for Credit Losses 301,256 272,982 212,308
Noninterest Income      
Gain on sale of loans 64,150 111,185 96,578
Loan servicing fees, net 30,198 16,373 (1,801)
Mortgage warehouse fees 5,394 12,396 20,980
Gains on sale of investments available for sale (includes $0, $191 and $441, respectively, related to accumulated other comprehensive earnings reclassifications)   191 441
Syndication and asset management fees 9,493 6,507 1,248
Other income 16,701 10,681 10,027
Total noninterest income 125,936 157,333 127,473
Noninterest Expense      
Salaries and employee benefits 89,085 85,727 59,200
Loan expenses 4,703 7,657 9,085
Occupancy and equipment 8,169 7,365 5,733
Professional fees 9,065 5,427 3,664
Deposit insurance expense 3,463 2,691 5,800
Technology expense 5,282 4,200 3,061
Other expense 16,283 12,318 9,881
Total noninterest expense 136,050 125,385 96,424
Income Before Income Taxes 291,142 304,930 243,357
Provision for income taxes (includes $0, $46 and $97, respectively, related to income tax expense for reclassification items) 71,421 77,826 62,824
Net Income 219,721 227,104 180,533
Dividends on preferred stock (25,983) (20,873) (14,473)
Net Income Allocated to Common Shareholders $ 193,738 $ 206,231 $ 166,060
Basic earnings per share(1) [1] $ 4.49 $ 4.78 $ 3.85
Diluted earnings per share(1) [1] $ 4.47 $ 4.76 $ 3.85
Weighted-Average Shares Outstanding(1)      
Basic (in Shares) [1] 43,164,477 43,172,078 43,113,741
Diluted (in Shares) [1] 43,316,904 43,325,303 43,167,113
[1] The number of shares and per share amounts have been restated to reflect the 3-for-2 common stock split, effective on January 17, 2022.