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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 INCOME:        
Loans, including fees $ 52,606 $ 52,182 $ 161,537 $ 169,294
Taxable investment securities 3,159 1,845 7,906 5,655
Federal Home Loan Bank stock and other 4,291 442 6,488 978
Total interest income 60,056 54,469 175,931 175,927
INTEREST EXPENSE:        
Deposits 1,830 1,148 3,654 4,037
Securities sold under agreements to repurchase and other short-term borrowings 94 20 171 37
Federal Home Loan Bank advances 96 6 226 47
Subordinated note   166   507
Total interest expense 2,020 1,340 4,051 4,628
NET INTEREST INCOME 58,036 53,129 171,880 171,299
Provision for expected credit loss expense for on-balance sheet exposures (loans and investment securities) 1,573 1,292 14,504 12,231
NET INTEREST INCOME AFTER PROVISION 56,463 51,837 157,376 159,068
NONINTEREST INCOME:        
Mortgage banking income 1,154 5,280 5,574 16,655
Program fees 4,932 4,018 12,671 9,569
Increase in cash surrender value of bank owned life insurance 617 626 1,852 1,616
Total noninterest income 15,047 18,825 76,614 69,494
NONINTEREST EXPENSE:        
Salaries and employee benefits 27,269 26,991 85,477 83,738
Technology, equipment, and communication 7,235 7,498 21,678 22,009
Occupancy 3,211 3,195 9,875 10,005
Marketing and development 1,951 1,233 5,019 3,099
FDIC insurance expense 423 325 1,241 1,189
Interchange related expense 1,221 1,275 3,602 3,707
Legal and professional fees 904 884 3,073 3,564
Other 3,891 3,034 12,366 10,719
Total noninterest expense 46,105 44,435 142,331 138,030
INCOME BEFORE INCOME TAX EXPENSE 25,405 26,227 91,659 90,532
INCOME TAX EXPENSE 5,922 6,218 20,349 20,548
NET INCOME 19,483 20,009 71,310 69,984
Service charges on deposit accounts        
NONINTEREST INCOME:        
Revenue under 606 3,409 3,277 9,998 9,221
Net refund transfer fees        
NONINTEREST INCOME:        
Revenue under 606 593 1,280 16,594 19,924
Interchange fee income        
NONINTEREST INCOME:        
Revenue under 606 3,322 3,263 9,853 9,771
Net losses on other real estate owned        
NONINTEREST INCOME:        
Revenue under 606 (53) (52) (158) (107)
Contract termination fee        
NONINTEREST INCOME:        
Revenue under 606     5,000  
Legal settlement        
NONINTEREST INCOME:        
Revenue under 606     13,000  
Other        
NONINTEREST INCOME:        
Revenue under 606 $ 1,073 $ 1,133 $ 2,230 $ 2,845
Class A Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) $ 0.99 $ 0.99 $ 3.60 $ 3.40
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) 0.99 0.99 3.58 3.39
Class B Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) 0.90 0.90 3.27 3.10
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) $ 0.90 $ 0.90 $ 3.26 $ 3.09