XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Loans receivable $ 80,290 $ 56,957
Debt securities available for sale and equity securities 8,451 8,888
Debt securities held to maturity 2,457 2,426
Federal funds and interest-earning deposits 812 17
Federal Home Loan Bank stock dividends 870 447
Total interest income 92,880 68,735
Interest expense:    
Deposits 17,088 4,687
Borrowings 14,928 1,322
Total interest expense 32,016 6,009
Net interest income 60,864 62,726
Provision for credit losses 175 1,459
Net interest income after provision for credit losses 60,689 61,267
Non-interest income:    
Bank-owned life insurance 1,981 1,729
Loan fees and service charges 1,072 640
Loss on securities transactions (1,295) 0
Change in fair value of equity securities 168 79
Gain on sale of loans 791 110
Other non-interest income 3,593 2,356
Total non-interest income 8,073 7,041
Non-interest expense:    
Compensation and employee benefits 31,158 25,999
Occupancy 5,754 5,429
Federal deposit insurance premiums 689 647
Advertising 687 649
Professional fees 1,875 1,754
Data processing and software expenses 3,825 3,267
Merger-related expenses 0 151
Other non-interest expense, net (87) 2,853
Total non-interest expense 43,901 40,749
Income before income tax expense 24,861 27,559
Income tax expense 6,138 7,155
Net income $ 18,723 $ 20,404
Earnings per share - basic (in dollars per share) $ 0.18 $ 0.20
Earnings per share - diluted (in dollars per share) $ 0.18 $ 0.20
Weighted average shares outstanding - basic (in shares) 104,631,583 103,148,417
Weighted average shares outstanding - diluted (in shares) 105,148,375 103,737,252
Demand deposit account fees    
Non-interest income:    
Revenue from contract with customer $ 1,176 $ 1,170
Title insurance fees    
Non-interest income:    
Revenue from contract with customer $ 587 $ 957