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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Loans $ 128,439 $ 86,420
Securities 8,431 7,131
Other short-term investments 3,802 368
Total interest income 140,672 93,919
Interest expense:    
Deposits and escrow 37,272 2,531
Borrowed funds 16,171 2,278
Derivative cash collateral 1,477 1
Total interest expense 54,920 4,810
Net interest income 85,752 89,109
Recovery for credit losses (3,648) (1,592)
Net interest income after recovery for credit losses 89,400 90,701
Non-interest income:    
Service charges and other fees 3,814 4,058
Title fees 292 421
Loan level derivative income 3,133 6
BOLI income 2,163 1,839
Gain on sale of Small Business Administration ("SBA") loans 516 242
Gain on sale of residential loans 48 148
Net loss on sale of securities and other assets (1,447)  
Other 482 489
Total non-interest income 9,001 7,203
Non-interest expense:    
Salaries and employee benefits 26,634 30,834
Occupancy and equipment 7,373 7,584
Data processing costs 4,238 3,805
Marketing 1,449 1,295
Professional services 1,923 2,094
Federal deposit insurance premiums 1,873 1,150
Amortization of other intangible assets 377 586
Other 3,608 2,540
Total non-interest expense 47,475 49,888
Income before income taxes 50,926 48,016
Income tax expense 13,623 13,485
Net income 37,303 34,531
Preferred stock dividends 1,821 1,821
Net income available to common stockholders $ 35,482 $ 32,710
Earnings per common share:    
Basic $ 0.92 $ 0.82
Diluted $ 0.92 $ 0.82