v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans, including fees $ 110,583 $ 112,326 $ 218,128 $ 221,238
Investment securities:        
Taxable interest 19,924 22,393 39,844 40,520
Tax-exempt interest 156 103 286 186
Interest-earning deposits 1,386 8,326 3,582 21,006
Total interest income 132,049 143,148 261,840 282,950
Interest expense:        
Deposits 34,334 43,963 69,623 90,338
Short-term borrowings 2,949 5 4,330 5
Long-term borrowings 147 198 344 393
Senior debt 3,917 1,233 7,792 2,467
Subordinated debentures 236 257 471 512
Total interest expense 41,583 45,656 82,560 93,715
Net interest income 90,466 97,492 179,280 189,235
Provision (reversal) for credit losses on non-fintech loans 365 1,494 (983) 2,368
Provision for credit losses on fintech loans 25,766 43,233 54,609 89,101
Provision (reversal) for unfunded commitments 42 364 (64) 253
Provision for credit losses, total 26,089 44,363 53,690 91,216
Net interest income after provision for credit losses 64,377 53,129 125,590 98,019
Non-interest income:        
Net realized and unrealized gains on commercial loans, at fair value 130 344 136 705
Leasing related income 1,773 2,131 3,674 4,103
Fintech loan credit enhancement     54,609 89,101
Other 4,477 2,390 8,183 3,385
Total non-interest income 73,040 83,743 145,565 167,385
Non-interest expense:        
Salaries and employee benefits 37,426 37,134 74,903 70,803
Depreciation 1,230 1,125 2,475 2,229
Rent and related occupancy cost 1,668 1,717 3,359 3,285
Data processing expense 1,387 1,227 2,696 2,432
Audit expense 498 545 1,139 1,199
Legal expense 1,221 1,863 2,811 3,820
Legal settlement (reimbursement) 0 0 (2,000) 0
FDIC insurance 1,106 1,202 2,357 2,255
Software 5,632 5,144 11,001 10,157
Insurance 1,069 1,145 2,251 2,402
Telecom and IT network communications 292 308 576 641
Consulting 147 436 357 892
Other 4,800 5,377 9,577 10,402
Total non-interest expense 56,476 57,223 111,502 110,517
Income before income taxes 80,941 79,649 159,653 154,887
Income tax expense 20,285 19,828 38,928 37,893
Net income $ 60,656 $ 59,821 $ 120,725 $ 116,994
Net income per share - basic (in dollars per share) $ 1.46 $ 1.28 $ 2.89 $ 2.49
Net income per share - diluted (in dollars per share) $ 1.45 $ 1.27 $ 2.86 $ 2.46
Weighted average shares - basic (in shares) 41,461,889 46,598,535 41,795,740 46,904,592
Weighted average shares - diluted (in shares) 41,794,160 47,182,770 42,180,516 47,565,580
Total fintech fees        
Non-interest income:        
Total fintech fees $ 40,894 $ 35,645 $ 78,963 $ 70,091
ACH, card and other payment fees        
Non-interest income:        
Total fintech fees 6,559 5,562 12,355 10,694
Prepaid, debit card and related fees        
Non-interest income:        
Total fintech fees 27,790 26,113 54,467 51,827
Consumer credit fintech fees        
Non-interest income:        
Total fintech fees $ 6,545 $ 3,970 $ 12,141 $ 7,570