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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans receivable $ 263,559 $ 228,841 $ 255,236
Debt securities available for sale and equity securities 34,221 30,211 28,376
Debt securities held to maturity 9,694 8,632 8,025
Federal funds and interest-earning deposits 474 430 413
Federal Home Loan Bank stock dividends 1,722 2,036 3,661
Total interest income 309,670 270,150 295,711
Interest expense:      
Deposits 27,878 29,109 55,246
Borrowings 15,015 7,907 18,892
Total interest expense 42,893 37,016 74,138
Net interest income 266,777 233,134 221,573
Provision for (reversal of) credit losses [1] 5,485 (9,953) 18,447
Net interest income after provision for (reversal of) credit losses 261,292 243,087 203,126
Non-interest income:      
Bank-owned life insurance 7,393 5,994 6,620
Gain on securities transactions 210 2,025 370
Change in fair value of equity securities (401) (1,792) 767
Gain on sale of loans 178 10,790 5,444
Other non-interest income 10,380 8,940 6,983
Total non-interest income (loss) 30,400 38,831 31,270
Non-interest expense:      
Compensation and employee benefits 116,926 99,534 100,687
Occupancy 22,589 20,071 19,170
Federal deposit insurance premiums 2,591 2,374 1,901
Advertising 2,865 2,358 2,641
Professional fees 8,158 7,363 5,810
Data processing and software expenses 13,362 11,497 10,285
Merger-related expenses 2,810 822 1,931
Loss on extinguishment of debt 0 2,851 1,158
Other non-interest expense 5,515 8,867 14,556
Total non-interest expense 174,816 155,737 158,139
Income before income tax expense 116,876 126,181 76,257
Income tax expense 30,703 34,132 18,654
Net income $ 86,173 $ 92,049 $ 57,603
Earnings per share - basic (in dollars per share) $ 0.82 $ 0.88 $ 0.52
Earnings per share - diluted (in dollars per share) $ 0.81 $ 0.88 $ 0.52
Weighted average shares outstanding - basic (in shares) 105,580,823 104,156,112 109,755,924
Weighted average shares outstanding - diluted (in shares) 106,193,161 104,156,112 109,755,924
Demand deposit account fees      
Non-interest income:      
Revenue $ 5,293 $ 3,803 $ 3,633
Title insurance fees      
Non-interest income:      
Revenue 3,423 6,088 5,034
Loan fees and service charges      
Non-interest income:      
Revenue $ 3,924 $ 2,983 $ 2,419
[1] (1) The Company adopted ASU 2016-13 as of January 1, 2022. Prior year periods have not been restated.