XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.2
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        
Loans, including fees $ 38,229 $ 20,815 $ 74,595 $ 43,022
Loans held-for-sale 32 38 89 93
Securities:        
Taxable 6,670 1,832 11,723 3,447
Tax exempt 1,413 1,259 2,846 2,566
Dividends from FHLBC and FRBC stock 263 113 416 228
Interest bearing deposits with financial institutions 782 137 1,051 229
Total interest and dividend income 47,389 24,194 90,720 49,585
Interest expense        
Savings, NOW, and money market deposits 347 217 744 458
Time deposits 265 409 542 909
Securities sold under repurchase agreements 9 21 20 52
Junior subordinated debentures 284 284 564 564
Subordinated debentures 547 517 1,093 517
Senior notes 578 673 1,063 1,346
Notes payable and other borrowings 95 119 198 242
Total interest expense 2,125 2,240 4,224 4,088
Net interest and dividend income 45,264 21,954 86,496 45,497
Provision for (release of) credit losses 550 (3,500) 550 (6,500)
Net interest and dividend income after provision for (release of) credit losses 44,714 25,454 85,946 51,997
Noninterest income        
Mortgage servicing rights mark to market gain (loss) 82 (1,033) 3,060 80
Net (loss) gain on sales of mortgage loans (262) 1,895 1,233 5,616
Securities (losses) gains, net (33) 2 (33) 2
Change in cash surrender value of BOLI 72 423 196 757
Card related income 2,965 1,666 5,532 3,113
Other income 924 577 1,793 1,027
Total noninterest income 9,211 7,919 22,674 19,219
Noninterest expense        
Salaries and employee benefits 21,332 12,896 41,299 26,402
Occupancy, furniture and equipment 3,046 2,303 6,745 4,770
Computer and data processing 4,006 1,304 10,274 2,602
FDIC insurance 702 192 1,112 393
General bank insurance 351 277 666 553
Amortization of core deposit intangible 659 115 1,324 235
Advertising expense 194 95 376 155
Card related expense 1,057 626 1,591 1,219
Legal fees 179 135 436 190
Consulting & management fees 523 250 1,139 667
Other real estate expense, net 87 77 75 113
Other expense 5,113 3,131 10,464 5,840
Total noninterest expense 37,249 21,401 75,501 43,139
Income before income taxes 16,676 11,972 33,119 28,077
Provision for income taxes 4,429 3,152 8,852 7,378
Net income $ 12,247 $ 8,820 $ 24,267 $ 20,699
Basic earnings per share $ 0.28 $ 0.30 $ 0.55 $ 0.71
Diluted earnings per share 0.27 0.30 0.54 0.70
Dividends declared per share $ 0.05 $ 0.05 $ 0.10 $ 0.06
Trust Income        
Noninterest income        
Service charges on deposits $ 2,506 $ 2,389 $ 5,204 $ 4,540
Deposit Account        
Noninterest income        
Service charges on deposits 2,328 1,221 4,402 2,416
Secondary mortgage fees        
Noninterest income        
Service charges on deposits 50 272 189 594
Bank Servicing        
Noninterest income        
Service charges on deposits $ 579 $ 507 $ 1,098 $ 1,074