CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Interest and dividend income |
|
|
| Loans, including fees |
$ 164,528
|
$ 136,497
|
| Securities |
|
|
| Taxable |
5,649
|
3,208
|
| Tax-exempt |
189
|
|
| Money market funds |
|
34
|
| Overnight deposits |
2,310
|
2,546
|
| Other interest and dividends |
608
|
812
|
| Total interest income |
173,284
|
143,097
|
| Interest expense |
|
|
| Deposits |
14,241
|
14,244
|
| Borrowed funds |
|
1,742
|
| Trust preferred securities |
424
|
572
|
| Subordinated debt |
1,618
|
1,618
|
| Total interest expense |
16,283
|
18,176
|
| Net interest income |
157,001
|
124,921
|
| Provision for loan losses |
3,816
|
9,488
|
| Net interest income after provision for loan losses |
153,185
|
115,433
|
| Non-interest income |
|
|
| Non-interest income |
23,150
|
13,669
|
| Unrealized gain (loss) on equity securities |
(62)
|
48
|
| Gain on sale of securities |
609
|
3,286
|
| Total non-interest income |
23,697
|
17,003
|
| Non-interest expense |
|
|
| Compensation and benefits |
45,908
|
39,797
|
| Bank premises and equipment |
8,055
|
8,340
|
| Professional fees |
6,750
|
4,122
|
| Technology costs |
5,201
|
3,387
|
| Licensing fees |
8,606
|
9,653
|
| Other expenses |
12,792
|
9,219
|
| Total non-interest expense |
87,312
|
74,518
|
| Net income before income tax expense |
89,570
|
57,918
|
| Income tax expense |
29,015
|
18,452
|
| Net income |
$ 60,555
|
$ 39,466
|
| Earnings per common share |
|
|
| Basic earnings per common share (in dollars per share) |
$ 6.64
|
$ 4.76
|
| Diluted earnings per common share (in dollars per share) |
$ 6.45
|
$ 4.66
|
| Service charges on deposit accounts |
|
|
| Non-interest income |
|
|
| Non-interest income |
$ 4,755
|
$ 3,728
|
| Revenue, Product and Service [Extensible List] |
Service charges on deposit accounts
|
Service charges on deposit accounts
|
| Global payments revenue |
|
|
| Non-interest income |
|
|
| Non-interest income |
$ 16,445
|
$ 8,464
|
| Revenue, Product and Service [Extensible List] |
Global payments revenue
|
Global payments revenue
|
| Other service charges and fees |
|
|
| Non-interest income |
|
|
| Non-interest income |
$ 1,950
|
$ 1,477
|
| Revenue, Product and Service [Extensible List] |
Other service charges and fees
|
Other service charges and fees
|