XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans receivable $ 56,957 $ 58,768
Debt securities available for sale and equity securities 8,888 6,378
Debt securities held to maturity 2,426 1,752
Federal funds and interest earning deposits 17 104
Federal Home Loan Bank stock dividends 447 635
Total interest income 68,735 67,637
Interest expense:    
Deposits 4,687 8,875
Borrowings 1,322 2,022
Total interest expense 6,009 10,897
Net interest income 62,726 56,740
Provision for (reversal of) credit losses [1] 1,459 (1,280)
Net interest income after provision for (reversal of) credit losses 61,267 58,020
Non-interest income:    
Bank-owned life insurance 1,729 1,474
Loan fees and service charges 640 651
Change in fair value of equity securities 79 (588)
Gain on sale of loans 110 2,150
Other non-interest income 2,356 2,450
Total non-interest income 7,041 8,595
Non-interest expense:    
Compensation and employee benefits 25,999 23,393
Occupancy 5,429 5,252
Federal deposit insurance premiums 647 580
Advertising 649 535
Professional fees 1,754 1,790
Data processing and software expenses 3,267 2,771
Merger-related expenses 151 0
Loss on extinguishment of debt 0 742
Other non-interest expense 2,853 2,640
Total non-interest expense 40,749 37,703
Income before income tax expense 27,559 28,912
Income tax expense 7,155 7,867
Net income $ 20,404 $ 21,045
Earnings per share - basic (in dollars per share) $ 0.20 $ 0.20
Earnings per share - diluted (in dollars per share) $ 0.20 $ 0.20
Weighted average shares outstanding - basic (in shares) 103,148,417 105,977,621
Weighted average shares outstanding - diluted (in shares) 103,737,252 105,977,621
Demand deposit account fees    
Non-interest income:    
Revenue from contract with customer $ 1,170 $ 838
Title insurance fees    
Non-interest income:    
Revenue from contract with customer $ 957 $ 1,620
[1] (1) The Company adopted ASU 2016-13 as of January 1, 2022. Prior year periods have not been restated.