XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans receivable $ 95,252 $ 84,188 $ 188,201 $ 164,478
Debt securities available for sale and equity securities 9,241 6,445 17,026 14,896
Debt securities held to maturity 2,502 2,447 4,871 4,904
Federal funds and interest-earning deposits 4,459 1,801 8,022 2,613
Federal Home Loan Bank stock dividends 1,832 1,262 3,793 2,132
Total interest income 113,286 96,143 221,913 189,023
Interest expense:        
Deposits 49,826 28,727 98,244 45,815
Borrowings 19,380 16,265 37,389 31,193
Total interest expense 69,206 44,992 135,633 77,008
Net interest income 44,080 51,151 86,280 112,015
Provision for credit losses 2,194 1,078 7,472 1,253
Net interest income after provision for credit losses 41,886 50,073 78,808 110,762
Non-interest income:        
Bank-owned life insurance 1,804 1,675 3,584 3,656
Loan fees and service charges 1,378 1,325 2,339 2,397
Loss on securities transactions 0 (9,552) (1,256) (10,847)
Change in fair value of equity securities 101 162 452 330
Gain on sale of loans 181 (128) 366 663
Other non-interest income 3,382 4,057 6,897 7,651
Total non-interest income 9,180 (546) 16,632 7,528
Non-interest expense:        
Compensation and employee benefits 27,659 32,460 55,172 63,618
Occupancy 6,054 5,738 12,027 11,492
Federal deposit insurance premiums 1,879 1,734 4,234 2,423
Advertising 661 786 1,287 1,473
Professional fees 4,509 2,376 9,143 4,251
Data processing and software expenses 3,914 3,601 7,881 7,426
Merger-related expenses 692 266 714 266
Other non-interest expense, net 879 645 1,447 559
Total non-interest expense 46,247 47,606 91,905 91,508
Income before income tax expense 4,819 1,921 3,535 26,782
Income tax expense 279 257 150 6,395
Net of tax $ 4,540 $ 1,664 $ 3,385 $ 20,387
Earnings per share - basic (in dollars per share) $ 0.04 $ 0.02 $ 0.03 $ 0.20
Earnings per share - diluted (in dollars per share) $ 0.04 $ 0.02 $ 0.03 $ 0.20
Weighted average shares outstanding - basic (in shares) 101,651,511 102,409,035 101,699,126 103,514,169
Weighted average shares outstanding - diluted (in shares) 101,651,511 102,517,584 101,804,386 103,835,235
Demand deposit account fees        
Non-interest income:        
Revenue from contract with customer $ 1,590 $ 1,291 $ 3,003 $ 2,467
Title insurance fees        
Non-interest income:        
Revenue from contract with customer $ 744 $ 624 $ 1,247 $ 1,211