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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest income:    
Loans, including fees $ 46,973 $ 43,089
Interest-bearing deposits in banks and other 570 641
Total interest income 47,543 43,730
Interest expense:    
Deposits 4,885 7,490
Borrowings 2,415 2,788
Total interest expense 7,300 10,278
Net interest income 40,243 33,452
Provision for loan losses (3,500) 16,900
Net interest income after provision for loan losses 43,743 16,552
Noninterest income:    
Residential loan fee income 95,543 92,678
Loan servicing income, net 1,875 2,024
Service charges and fees 1,028 933
Other noninterest income 923 407
Total noninterest income 117,577 97,695
Noninterest expense:    
Salaries and benefits 51,569 36,403
Bonus, commissions, and incentives 37,946 34,072
Mortgage banking 5,731 5,292
Occupancy and equipment 5,236 4,453
Data processing 6,532 4,418
Marketing and business development 7,620 3,553
Professional services 4,688 3,533
Loan origination and collection 2,452 2,040
Employee recruiting and development 3,345 1,769
Regulatory assessments 442 444
Other noninterest expense 3,281 2,492
Total noninterest expense 128,842 98,469
Income before income tax expense 32,478 15,778
Income tax expense 7,860 3,075
Net income 24,618 12,703
Less: Preferred stock dividends 1,005 863
Net income available to common shareholders $ 23,613 $ 11,840
Basic earnings per common share (in USD per share) $ 6.21 $ 3.45
Dilutive earnings per common share (in USD per share) $ 5.74 $ 3.01
Government guaranteed loans    
Gain (loss) on sale of government guaranteed loans, net $ 18,024 $ 1,652
SBA Loan    
Gain (loss) on sale of government guaranteed loans, net 4,207 1,652
SBA loan fair value gain 184 1
Interest income:    
Total interest income $ 559 $ 725