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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest Income      
Loans $ 293,830,000 $ 263,915,000 $ 186,428,000
Mortgage loans in process of securitization 12,746,000 11,122,000 6,690,000
Investment securities:      
Available for sale - taxable 3,309,000 3,147,000 6,208,000
Available for sale - tax exempt 41,000 123,000 272,000
Federal Home Loan Bank stock 1,143,000 1,558,000 932,000
Other 817,000 2,925,000 11,465,000
Total interest income 311,886,000 282,790,000 211,995,000
Interest Expense      
Deposits 28,256,000 52,238,000 84,661,000
Borrowed funds 5,636,000 6,406,000 5,036,000
Total interest expense 33,892,000 58,644,000 89,697,000
Net Interest Income 277,994,000 224,146,000 122,298,000
Provision for loan losses 5,012,000 11,838,000 3,940,000
Net Interest Income After Provision for Loan Losses 272,982,000 212,308,000 118,358,000
Noninterest Income      
Gain on sale of loans 111,185,000 96,578,000 35,411,000
Loan servicing fees, net 16,373,000 (1,801,000) (1,118,000)
Mortgage warehouse fees 12,396,000 20,980,000 7,145,000
Gains on sale of investments available for sale (includes $191, $441 and $476, respectively, related to accumulated other comprehensive earnings reclassifications) 191,000 441,000 476,000
Low-income housing tax credit syndication fees 6,407,000 1,248,000  
Other income 10,781,000 10,027,000 5,175,000
Total noninterest income 157,333,000 127,473,000 47,089,000
Noninterest Expense      
Salaries and employee benefits 85,727,000 59,200,000 38,093,000
Loan expenses 7,657,000 9,085,000 4,534,000
Occupancy and equipment 7,365,000 5,733,000 4,609,000
Professional fees 5,427,000 3,664,000 2,326,000
Deposit insurance expense 2,691,000 5,800,000 2,747,000
Technology expense 4,200,000 3,061,000 2,623,000
Other expense 12,318,000 9,881,000 8,381,000
Total noninterest expense 125,385,000 96,424,000 63,313,000
Income Before Income Taxes 304,930,000 243,357,000 102,134,000
Provision for income taxes (includes $(46), $(97) and $(117), respectively, related to income tax (expense)/benefit for reclassification items) 77,826,000 62,824,000 24,805,000
Net Income 227,104,000 180,533,000 77,329,000
Dividends on preferred stock (20,873,000) (14,473,000) (9,216,000)
Net Income Allocated to Common Shareholders $ 206,231,000 $ 166,060,000 $ 68,113,000
Basic Earnings Per Share [1] $ 4.78 $ 3.85 $ 1.58
Diluted Earnings Per Share [1] $ 4.76 $ 3.85 $ 1.58
Basic (in Shares) [1] 43,172,078 43,113,741 43,057,688
Diluted (in Shares) [1] 43,325,303 43,167,113 43,118,561
[1] The number of shares and per share amounts have been restated to reflect the 3-for-2 common stock split, effective on January 17, 2022.