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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - 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        
Interest and fees on loans and leases $ 99,134 $ 59,674 $ 191,477 $ 115,100
Interest on securities 6,559 6,264 13,159 12,419
Other interest and dividend income 1,579 608 2,638 845
Total interest and dividend income 107,272 66,546 207,274 128,364
INTEREST EXPENSE        
Deposits 24,723 2,128 41,021 3,215
Other borrowings 4,241 1,097 10,129 1,492
Subordinated notes and debentures 2,142 1,694 4,240 3,294
Total interest expense 31,106 4,919 55,390 8,001
Net interest income 76,166 61,627 151,884 120,363
Provision for credit losses 5,790 5,908 15,615 10,903
Net interest income after provision for credit losses 70,376 55,719 136,269 109,460
NON-INTEREST INCOME        
Fees and service charges on deposits 2,233 2,059 4,353 3,943
Loan servicing revenue 3,377 3,384 6,757 6,764
Loan servicing asset revaluation (865) (4,636) (209) (5,867)
ATM and interchange fees 1,112 1,131 2,175 2,180
Net realized gains on securities available-for-sale 0 52 0 52
Change in fair value of equity securities, net 193 (697) 543 (732)
Net gains on sales of loans 5,704 9,983 10,852 20,810
Wealth management and trust income 1,039 900 1,963 1,948
Other non-interest income 1,498 1,985 3,002 4,489
Total non-interest income 14,291 14,161 29,436 33,587
NON-INTEREST EXPENSE        
Salaries and employee benefits 29,642 27,697 60,036 56,656
Occupancy and equipment expense, net 4,404 4,409 8,848 9,537
Impairment loss on assets held for sale 0 0 20 0
Loan and lease related expenses 488 942 1,451 51
Legal, audit and other professional fees 3,675 1,820 6,789 4,420
Data processing 4,272 3,396 8,055 6,582
Net loss recognized on other real estate owned and other related expenses 288 158 185 212
Other intangible assets amortization expense 1,455 1,868 2,910 3,464
Other non-interest expense 5,104 3,483 9,834 7,406
Total non-interest expense 49,328 43,773 98,128 88,328
INCOME BEFORE PROVISION FOR INCOME TAXES 35,339 26,107 67,577 54,719
PROVISION FOR INCOME TAXES 9,232 5,824 17,525 12,125
NET INCOME 26,107 20,283 50,052 42,594
Dividends on preferred shares 0 0 0 196
INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 26,107 $ 20,283 $ 50,052 $ 42,398
EARNINGS PER COMMON SHARE        
Basic $ 0.70 $ 0.55 $ 1.35 $ 1.14
Diluted $ 0.70 $ 0.54 $ 1.34 $ 1.12