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Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans receivable $ 92,949 $ 80,290
Debt securities available for sale and equity securities 7,785 8,451
Debt securities held to maturity 2,369 2,457
Federal funds and interest-earning deposits 3,563 812
Federal Home Loan Bank stock dividends 1,961 870
Total interest income 108,627 92,880
Interest expense:    
Deposits 48,418 17,088
Borrowings 18,009 14,928
Total interest expense 66,427 32,016
Net interest income 42,200 60,864
Provision for credit losses 5,278 175
Net interest income after provision for credit losses 36,922 60,689
Non-interest income:    
Bank-owned life insurance 1,780 1,981
Loan fees and service charges 961 1,072
Loss on securities transactions (1,256) (1,295)
Change in fair value of equity securities 351 168
Gain on sale of loans 185 791
Other non-interest income 3,515 3,593
Total non-interest income 7,452 8,073
Non-interest expense:    
Compensation and employee benefits 27,513 31,158
Occupancy 5,973 5,754
Federal deposit insurance premiums 2,355 689
Advertising 626 687
Professional fees 4,634 1,875
Data processing and software expenses 3,967 3,825
Merger-related expenses 22 0
Other non-interest expense, net 568 (87)
Total non-interest expense 45,658 43,901
(Loss) income before income tax expense (1,284) 24,861
Income tax (benefit) expense (129) 6,138
Net (loss) income $ (1,155) $ 18,723
(Loss) earnings per share - basic (in dollars per share) $ (0.01) $ 0.18
(Loss) earnings per share - diluted (in dollars per share) $ (0.01) $ 0.18
Weighted average shares outstanding - basic (in shares) 101,746,740 104,631,583
Weighted average shares outstanding - diluted (in shares) 101,988,425 105,148,375
Demand deposit account fees    
Non-interest income:    
Revenue from contract with customer $ 1,413 $ 1,176
Title insurance fees    
Non-interest income:    
Revenue from contract with customer $ 503 $ 587