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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income    
Loans $ 189,450 $ 72,196
Mortgage loans in process of securitization 1,648 2,245
Investment securities:    
Available for sale - taxable 2,266 701
Held to maturity 15,754  
Federal Home Loan Bank stock 427 269
Other 1,749 601
Total interest income 211,294 76,012
Interest Expense    
Deposits 104,442 8,813
Borrowed funds 6,159 1,474
Total interest expense 110,601 10,287
Net Interest Income 100,693 65,725
Provision for credit losses 6,867 2,451
Net Interest Income After Provision for Credit Losses 93,826 63,274
Noninterest Income    
Gain on sale of loans 6,733 17,965
Loan servicing fees, net 2,360 9,731
Mortgage warehouse fees 1,028 1,858
Syndication and asset management fees 1,212 614
Other income 2,931 4,429
Total noninterest income 14,264 34,597
Noninterest Expense    
Salaries and employee benefits 22,146 21,293
Loan expenses 804 1,211
Occupancy and equipment 2,232 1,814
Professional fees 2,269 1,303
Deposit insurance expense 2,178 759
Technology expense 1,577 1,236
Other expense 3,566 3,417
Total noninterest expense 34,772 31,033
Income Before Income Taxes 73,318 66,838
Provision for income taxes 18,363 16,696
Net Income 54,955 50,142
Dividends on preferred stock (8,667) (5,728)
Net Income Allocated to Common Shareholders $ 46,288 $ 44,414
Basic Earnings Per Share $ 1.07 $ 1.03
Diluted Earnings Per Share $ 1.07 $ 1.02
Weighted-Average Shares Outstanding    
Basic (in Shares) 43,179,604 43,190,066
Diluted (in Shares) 43,290,779 43,360,034