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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        
Loans, including fees $ 55,150 $ 49,454 $ 105,741 $ 97,358
Investment securities:        
Taxable interest 5,432 7,201 10,323 16,009
Tax-exempt interest 24 25 49 53
Interest earning deposits 1,004 300 1,351 483
Total interest income 61,610 56,980 117,464 113,903
Interest expense        
Deposits 5,590 1,519 7,196 3,285
Short-term borrowings 32   32 8
Senior debt 1,280 1,280 2,559 2,559
Subordinated debentures 139 112 255 225
Total interest expense 7,041 2,911 10,042 6,077
Net interest income 54,569 54,069 107,422 107,826
Provision for (reversal of) credit losses (1,450) (951) 3,509 (129)
Net interest income after provision for (reversal of) credit losses 56,019 55,020 103,913 107,955
Non-interest income        
Net realized and unrealized gains on commercial loans, at fair value 3,682 2,579 10,517 4,575
Leasing related income 1,545 1,767 2,518 2,732
Other 350 164 470 273
Total non-interest income 27,953 25,861 56,517 49,935
Non-interest expense        
Salaries and employee benefits 25,999 27,087 49,847 52,745
Depreciation and amortization 744 706 1,539 1,415
Rent and related occupancy cost 1,274 1,271 2,563 2,521
Data processing expense 1,246 1,146 2,435 2,272
Printing and supplies 102 130 188 196
Audit expense 379 391 741 754
Legal expense 1,474 2,044 2,268 4,098
Legal settlement 1,152   1,152  
Amortization of intangible assets 100 100 199 199
FDIC insurance 673 2,589 1,647 4,969
Software 4,165 3,706 8,029 7,390
Insurance 1,314 1,026 2,378 1,771
Telecom and IT network communications 377 409 751 814
Consulting 260 240 563 504
Other 3,586 3,038 6,897 6,118
Total non-interest expense 42,845 43,883 81,197 85,766
Income from continuing operations before income taxes 41,127 36,998 79,233 72,124
Income tax expense 10,725 7,840 19,865 16,906
Net income from continuing operations 30,402 29,158 59,368 55,218
Discontinued operations        
Income from discontinued operations before income taxes   361   237
Income tax expense   84   55
Income from discontinued operations, net of tax   277   182
Net income $ 30,402 $ 29,435 $ 59,368 $ 55,400
Net income per share from continuing operations - basic $ 0.54 $ 0.51 $ 1.04 $ 0.96
Net income per share from discontinued operations - basic 0.01
Net income per share - basic 0.54 0.51 1.04 0.97
Net income per share from continuing operations - diluted 0.53 0.49 1.03 0.93
Net income per share from discontinued operations - diluted 0.01
Net income per share - diluted $ 0.53 $ 0.50 $ 1.03 $ 0.94
ACH, Card And Other Payment Processing Fees [Member]        
Non-interest income        
Fees $ 2,338 $ 1,904 $ 4,322 $ 3,700
Prepaid, Debit Card And Related Fees [Member]        
Non-interest income        
Fees $ 20,038 $ 19,447 $ 38,690 $ 38,655