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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Interest and fees on loans $ 20,746 $ 30,074 $ 44,614 $ 61,368
Interest and dividends on investment securities and restricted stock 1,353 385 2,188 775
Other interest 791 227 1,006 490
Total interest income 22,890 30,686 47,808 62,633
Interest expense        
Interest on deposits 2,016 5,236 4,346 11,938
Interest on Federal Home Loan Bank borrowings 314 847 666 1,685
Interest on subordinated notes 1,090 1,005 2,054 2,185
Total interest expense 3,420 7,088 7,066 15,808
Net interest income 19,470 23,598 40,742 46,825
Provision (recovery) for loan losses (1,109) (1,806) (5,398) (2,543)
Net interest income after provision (recovery) for loan losses 20,579 25,404 46,140 49,368
Non-interest income        
Service charges and fees $ 105 $ 144 $ 227 $ 303
Revenue, Product and Service [Extensible List] sbt:ServiceChargesAndFeesMember sbt:ServiceChargesAndFeesMember sbt:ServiceChargesAndFeesMember sbt:ServiceChargesAndFeesMember
Gain on sale of mortgage loans held for sale $ 3 $ 70 $ 200 $ 468
Unrealized gains (losses) on equity securities (170) 15 (406) (75)
Net servicing income (loss) (177) (908) 266 (1,338)
Income on cash surrender value of bank-owned life insurance 255 322 583 635
Other 29 88 586 191
Total non-interest income 45 (269) 1,456 184
Non-interest expense        
Salaries and employee benefits 5,569 8,678 15,186 16,526
Occupancy and equipment 2,187 2,249 4,329 4,445
Professional fees 7,066 5,721 12,223 14,476
FDIC assessments 346 500 715 1,219
Data processing 762 440 1,567 786
Net recovery of mortgage repurchase liability (312) (512) (525) (665)
Other 3,876 2,868 5,422 4,491
Total non-interest expense 19,494 19,944 38,917 41,278
Income before income taxes 1,130 5,191 8,679 8,274
Income tax expense 3,327 1,739 5,616 2,497
Net income (loss) $ (2,197) $ 3,452 $ 3,063 $ 5,777
Income (loss) per share, basic $ (0.04) $ 0.07 $ 0.06 $ 0.12
Income (loss) per share, diluted $ (0.04) $ 0.07 $ 0.06 $ 0.12
Weighted average common shares outstanding:        
Basic 50,386,856 50,009,053 50,289,612 49,930,563
Diluted 50,386,856 50,060,775 50,496,487 49,987,253