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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income      
Loans, including fees $ 244,187 $ 176,379 $ 90,613
Loans held-for-sale 91 130 165
Securities:      
Taxable 37,940 31,566 8,168
Tax exempt 5,329 5,287 5,107
Dividends from FHLBC and FRBC stock 1,920 936 456
Interest bearing deposits with financial institutions 2,503 2,175 656
Total interest and dividend income 291,970 216,473 105,165
Interest expense      
Savings, NOW, and money market deposits 8,761 1,900 961
Time deposits 6,636 1,448 1,510
Securities sold under repurchase agreements 93 40 82
Other short-term borrowings 18,774 480  
Junior subordinated debentures 1,095 1,136 1,133
Subordinated debentures 2,185 2,185 1,610
Senior notes 2,408 2,682 2,692
Notes payable and other borrowings 87 446 462
Total interest expense 40,039 10,317 8,450
Net interest and dividend income 251,931 206,156 96,715
Provision for credit losses 16,501 6,550 4,326
Net interest and dividend income after provision for credit losses 235,430 199,606 92,389
Noninterest income      
Mortgage servicing rights mark to market (loss) gain (1,425) 3,177 1,261
Net gain on sales of mortgage loans 1,477 2,022 9,300
Securities (losses) gains, net (4,148) (944) 232
Change in cash surrender value of BOLI 2,120 718 1,390
Card related income 10,051 10,989 6,712
Other income 4,196 5,243 2,329
Total noninterest income 34,179 43,116 39,260
Noninterest expense      
Salaries and employee benefits 88,566 86,573 57,691
Occupancy, furniture and equipment 14,437 14,992 13,548
Computer and data processing 7,277 15,795 7,936
FDIC insurance 2,705 2,401 975
Net teller & bill paying 2,115 3,730 874
General bank insurance 1,212 1,221 1,214
Amortization of core deposit intangible 2,461 2,626 644
Advertising expense 721 589 343
Card related expense 5,123 4,348 2,538
Legal fees 927 873 1,096
Consulting & management fees 2,415 2,425 5,005
Other real estate expense, net 399 130 151
Other expense 16,843 15,470 11,767
Total noninterest expense 145,201 151,173 103,782
Income before income taxes 124,408 91,549 27,867
Provision for income taxes 32,679 24,144 7,823
Net income $ 91,729 $ 67,405 $ 20,044
Basic earnings per share $ 2.05 $ 1.51 $ 0.66
Diluted earnings per share 2.02 1.49 0.65
Dividends declared per share $ 0.20 $ 0.20 $ 0.16
Wealth management      
Noninterest income      
Service charges on deposits $ 9,803 $ 9,887 $ 9,408
Service charges on deposits      
Noninterest income      
Service charges on deposits 9,817 9,562 5,403
Secondary mortgage fees      
Noninterest income      
Service charges on deposits 259 332 1,044
Mortgage servicing income      
Noninterest income      
Service charges on deposits $ 2,029 $ 2,130 $ 2,181