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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Interest and fees on loans $ 42,065 $ 33,680 $ 113,163 $ 101,646
Interest on loans held for sale 377 665 972 2,841
Interest on taxable securities 1,971 1,293 5,545 2,671
Other interest and dividend income 143 170 335 384
Total interest and dividend income 44,556 35,808 120,015 107,542
Interest expense:        
Interest on deposits 3,491 2,050 7,131 7,072
Interest on FHLB borrowings 1,209 431 1,516 1,514
Interest on subordinated debentures 524 524 1,571 1,571
Total interest expense 5,224 3,005 10,218 10,157
Net interest and dividend income 39,332 32,803 109,797 97,385
Provision (benefit) for credit losses 668 (1,627) 3,552 (5,822)
Net interest and dividend income, after provision (benefit) for credit losses 38,664 34,430 106,245 103,207
Mortgage banking income:        
Gain on sale of mortgage loans 3,809 12,756 13,669 51,820
Changes in mortgage servicing rights fair value 1,816 (992) 7,963 (135)
Other 2,453 3,882 7,623 12,472
Total mortgage banking income 8,078 15,646 29,255 64,157
Deposit account fees 4,870 4,658 14,234 13,056
Income on retirement plan annuities 119 108 338 318
Gain on sale and call of securities, net   241   241
Bank-owned life insurance income 503 515 1,480 1,516
Other income 675 842 2,102 2,234
Total noninterest income 14,245 22,010 47,409 81,522
Noninterest expense:        
Compensation and benefits 20,991 24,760 63,169 77,360
Occupancy and equipment 4,829 4,765 14,832 14,723
Data processing 2,311 2,205 6,811 6,910
Loan expenses 355 1,323 1,218 5,008
Marketing 850 880 3,054 2,524
Deposit expenses 587 431 1,646 1,209
Postage and printing 373 396 1,204 1,215
Professional fees 1,457 1,362 4,676 4,432
Prepayment penalties on Federal Home Loan Bank advances   1,095   1,095
Foreclosed and repossessed assets   (308) 18 (332)
Deposit insurance 357 341 1,060 993
Other expenses 2,363 2,024 6,574 5,537
Total noninterest expense 34,473 39,274 104,262 120,674
Income before income taxes 18,436 17,166 49,392 64,055
Income tax provision 4,678 4,907 13,380 18,128
Net income $ 13,758 $ 12,259 $ 36,012 $ 45,927
Earnings per common share:        
Basic $ 0.30 $ 0.25 $ 0.77 $ 0.89
Diluted $ 0.30 $ 0.24 $ 0.76 $ 0.88
Weighted average shares outstanding:        
Weighted average common shares, basic 45,830,737 49,801,123 46,875,312 51,362,252
Weighted average common shares, diluted 46,420,527 50,663,415 47,541,647 52,094,749