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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Interest and fees on loans $ 123,865 $ 111,954 $ 247,601 $ 217,075
Interest and dividends on investment securities 7,520 6,690 14,137 13,551
Dividends on non-marketable securities 377 914 993 1,812
Interest on interest bearing bank deposits 685 1,511 1,448 2,164
Total interest and dividend income 132,447 121,069 264,179 234,602
Interest expense:        
Interest on deposits 48,217 25,143 92,214 36,192
Interest on borrowings 656 6,142 4,361 13,737
Total interest expense 48,873 31,285 96,575 49,929
Net interest income before provision for credit losses 83,574 89,784 167,604 184,673
Provision for credit loss expense 2,776 1,700 2,776 2,600
Net interest income after provision for credit losses 80,798 88,084 164,828 182,073
Non-interest income:        
Non-interest income 11,687 13,413 22,695 23,484
Mortgage banking income 3,296 3,710 5,951 6,926
Bank-owned life insurance income 736 1,032 1,469 1,677
Other non-interest income 820 (454) 6,157 1,612
Total non-interest income 14,029 13,823 31,723 28,488
Non-interest expense:        
Salaries and benefits 36,933 35,215 73,453 68,204
Occupancy and equipment 10,120 9,126 20,061 18,199
Data processing 4,117 2,959 8,183 6,711
Marketing and business development 783 1,090 1,745 1,960
FDIC deposit insurance 1,431 1,569 2,776 3,747
Bank card expenses 1,391 1,265 2,740 2,593
Professional fees 1,706 3,146 3,352 5,736
Other non-interest expense 4,617 4,604 9,614 8,753
Other intangible assets amortization 1,977 2,007 3,985 3,370
Total non-interest expense 63,075 60,981 125,909 119,273
Income before income taxes 31,752 40,926 70,642 91,288
Income tax expense 5,617 8,369 13,116 18,448
Net income $ 26,135 $ 32,557 $ 57,526 $ 72,840
Earnings per share-basic (in dollars per share) $ 0.68 $ 0.86 $ 1.51 $ 1.92
Earnings per share-diluted (in dollars per share) $ 0.68 $ 0.85 $ 1.50 $ 1.91
Weighted average number of common shares outstanding:        
Basic (in shares) 38,210,869 37,957,287 38,121,114 37,871,862
Diluted (in shares) 38,372,777 38,107,326 38,299,435 38,092,708
Service charges        
Non-interest income:        
Non-interest income $ 4,295 $ 4,444 $ 8,686 $ 8,545
Bank card fees        
Non-interest income:        
Non-interest income $ 4,882 $ 5,091 $ 9,460 $ 9,728