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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income        
Loans, including fees $ 112,326 $ 115,062 $ 221,238 $ 229,314
Investment securities:        
Taxable interest 22,393 17,520 40,520 27,154
Tax-exempt interest 103 40 186 79
Interest-earning deposits 8,326 4,677 21,006 16,561
Total interest income 143,148 137,299 282,950 273,108
Interest expense        
Deposits 43,963 39,999 90,338 79,160
Short-term borrowings 5 1,295 5 1,314
Long-term borrowings 198 685 393 1,371
Senior debt 1,233 1,234 2,467 2,467
Subordinated debentures 257 291 512 583
Total interest expense 45,656 43,504 93,715 84,895
Net interest income 97,492 93,795 189,235 188,213
Provision for credit losses on non-consumer fintech loans 1,494 1,477 2,368 3,840
Provision for credit losses on consumer fintech loans 43,233   89,101  
Provision (reversal) for unfunded commitments (364) (225) (253) (419)
Net interest income after provision (reversal) for credit losses 53,129 92,543 98,019 184,792
Non-interest income        
Net realized and unrealized gains on commercial loans, at fair value 344 503 705 1,599
Leasing related income 2,131 1,429 4,103 1,817
Consumer fintech loan credit enhancement 43,233   89,101  
Other 2,390 895 3,385 1,543
Total non-interest income 83,743 30,722 167,385 60,104
Non-interest expense        
Salaries and employee benefits 37,134 33,863 70,803 64,143
Depreciation 1,125 1,027 2,229 1,976
Rent and related occupancy cost 1,717 1,686 3,285 3,326
Data processing expense 1,227 1,423 2,432 2,844
Audit expense 545 319 1,199 678
Legal expense 1,863 633 3,820 1,454
FDIC insurance 1,202 869 2,255 1,714
Software 5,144 4,637 10,157 9,126
Insurance 1,145 1,282 2,402 2,620
Telecom and IT network communications 308 354 641 625
Consulting 436 562 892 1,140
Other 5,377 4,791 10,402 8,512
Total non-interest expense 57,223 51,446 110,517 98,158
Income before income taxes 79,649 71,819 154,887 146,738
Income tax expense 19,828 18,133 37,893 36,623
Net income $ 59,821 $ 53,686 $ 116,994 $ 110,115
Net income per share - basic $ 1.28 $ 1.05 $ 2.49 $ 2.12
Net income per share - diluted $ 1.27 $ 1.05 $ 2.46 $ 2.10
Weighted average shares - basic 46,598,535 50,937,055 46,904,592 51,842,097
Weighted average shares - diluted 47,182,770 51,337,491 47,565,580 52,327,122
ACH, Card And Other Payment Processing Fees [Member]        
Non-interest income        
Fees $ 5,562 $ 3,000 $ 10,694 $ 5,964
Prepaid, Debit Card And Related Fees [Member]        
Non-interest income        
Fees 26,113 24,755 51,827 49,041
Consumer Credit Fintech Fees [Member]        
Non-interest income        
Fees 3,970 140 7,570 140
Total Fintech Fees [Member]        
Non-interest income        
Fees $ 35,645 $ 27,895 $ 70,091 $ 55,145