XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income        
Loans, including fees $ 61,561 $ 38,229 $ 118,771 $ 74,595
Loans held-for-sale 19 32 31 89
Securities:        
Taxable 9,930 6,786 20,665 11,954
Tax exempt 1,337 1,297 2,674 2,615
Dividends from FHLBC and FRBC stock 396 263 676 416
Interest bearing deposits with financial institutions 643 782 1,228 1,051
Total interest and dividend income 73,886 47,389 144,045 90,720
Interest expense        
Savings, NOW, and money market deposits 1,742 347 2,891 744
Time deposits 1,156 265 1,820 542
Securities sold under repurchase agreements 7 9 16 20
Other short-term borrowings 5,160   7,505  
Junior subordinated debentures 281 284 560 564
Subordinated debentures 546 547 1,092 1,093
Senior notes 1,414 578 2,408 1,063
Notes payable and other borrowings   95 87 198
Total interest expense 10,306 2,125 16,379 4,224
Net interest and dividend income 63,580 45,264 127,666 86,496
Provision for credit losses 2,000 550 5,501 550
Net interest and dividend income after provision for credit losses 61,580 44,714 122,165 85,946
Noninterest income        
Mortgage servicing rights mark to market gain (loss) 96 82 (429) 3,060
Net gain (loss) on sales of mortgage loans 398 (262) 704 1,233
Securities losses, net (1,547) (33) (3,222) (33)
Change in cash surrender value of BOLI 418 72 660 196
Card related income 2,690 2,965 4,934 5,532
Other income 773 924 2,262 1,793
Total noninterest income 8,223 9,211 15,573 22,674
Noninterest expense        
Salaries and employee benefits 21,798 21,332 44,046 41,299
Occupancy, furniture and equipment 3,639 3,046 7,114 6,745
Computer and data processing 1,290 4,006 3,064 10,274
FDIC insurance 794 702 1,378 1,112
Net teller & bill paying 515 834 1,017 2,741
General bank insurance 306 351 611 666
Amortization of core deposit intangible 618 659 1,242 1,324
Advertising expense 103 194 245 376
Card related expense 1,222 1,057 2,438 1,591
Legal fees 283 179 602 436
Consulting & management fees 520 523 1,310 1,139
Other real estate expense, net (98) 87 208 75
Other expense 3,840 4,279 7,477 7,723
Total noninterest expense 34,830 37,249 70,752 75,501
Income before income taxes 34,973 16,676 66,986 33,119
Provision for income taxes 9,411 4,429 17,817 8,852
Net income $ 25,562 $ 12,247 $ 49,169 $ 24,267
Basic earnings per share $ 0.57 $ 0.28 $ 1.10 $ 0.55
Diluted earnings per share 0.56 0.27 1.08 0.54
Dividends declared per share $ 0.05 $ 0.05 $ 0.10 $ 0.10
Wealth management        
Noninterest income        
Service charges on deposits $ 2,458 $ 2,506 $ 4,728 $ 5,204
Service charges on deposits        
Noninterest income        
Service charges on deposits 2,362 2,328 4,786 4,402
Secondary mortgage fees        
Noninterest income        
Service charges on deposits 76 50 135 189
Mortgage servicing income        
Noninterest income        
Service charges on deposits $ 499 $ 579 $ 1,015 $ 1,098