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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income:        
Interest and fees on loans $ 37,522 $ 34,106 $ 71,098 $ 67,966
Interest on loans held for sale 331 852 595 2,176
Interest on taxable securities 1,873 793 3,574 1,378
Other interest and dividend income 131 136 192 214
Total interest and dividend income 39,857 35,887 75,459 71,734
Interest expense:        
Interest on deposits 2,019 2,302 3,640 5,022
Interest on FHLB borrowings 119 531 307 1,083
Interest on subordinated debentures 524 524 1,047 1,047
Total interest expense 2,662 3,357 4,994 7,152
Net interest and dividend income 37,195 32,530 70,465 64,582
Provision (benefit) for credit losses 2,546 (4,286) 2,884 (4,195)
Net interest and dividend income, after provision (benefit) for credit losses 34,649 36,816 67,581 68,777
Mortgage banking income:        
Gain on sale of mortgage loans 4,538 14,262 9,860 39,064
Changes in mortgage servicing rights fair value 862 (2,552) 6,147 857
Other 2,612 4,075 5,170 8,590
Total mortgage banking income 8,012 15,785 21,177 48,511
Deposit account fees 4,892 4,546 9,364 8,398
Income on retirement plan annuities 112 106 219 210
Bank-owned life insurance income 494 508 977 1,001
Other income 593 758 1,427 1,392
Total noninterest income 14,103 21,703 33,164 59,512
Noninterest expense:        
Compensation and benefits 21,455 25,146 42,178 52,600
Occupancy and equipment 4,575 4,702 10,003 9,958
Data processing 2,259 2,362 4,500 4,705
Loan expenses 385 1,250 863 3,685
Marketing 986 831 2,204 1,644
Deposit expenses 513 338 1,059 778
Postage and printing 412 418 831 819
Professional fees 1,680 1,487 3,219 3,070
Foreclosed and repossessed assets 52 (47) 18 (24)
Deposit insurance 354 332 703 652
Other expenses 2,283 1,779 4,211 3,513
Total noninterest expense 34,954 38,598 69,789 81,400
Income before income taxes 13,798 19,921 30,956 46,889
Income tax provision 3,811 5,645 8,702 13,221
Net income $ 9,987 $ 14,276 $ 22,254 $ 33,668
Earnings per common share:        
Basic $ 0.21 $ 0.28 $ 0.47 $ 0.65
Diluted $ 0.21 $ 0.27 $ 0.46 $ 0.64
Weighted average shares outstanding:        
Weighted average common shares, basic 46,980,830 51,778,293 47,406,257 52,155,754
Weighted average common shares, diluted 47,536,033 52,650,071 48,110,863 52,823,354