v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income        
Debt securities available-for-sale $ 217 $ 214 $ 433 $ 490
Loans and fees on loans 40,335 33,354 78,037 67,837
Other interest earning assets 5,742 2,950 14,065 6,081
Total interest income 46,294 36,518 92,535 74,408
Interest expense        
Deposits 18,599 9,357 33,869 19,202
Total interest expense 31,330 22,595 60,345 46,552
Net interest income 14,964 13,923 32,190 27,856
Provision for credit losses 12,114 9,117 21,722 22,622
Net interest income after provision for credit losses 2,850 4,806 10,468 5,234
Noninterest income        
Dividend income 485 600 935 2,286
Net loss on loan servicing assets (5,249) (4,355) (11,446) (8,007)
Servicing income 5,003 6,054 11,388 11,579
Net gains on sales of loans 11,226 15,526 37,908 28,487
Net gain on residuals in securitizations 2,006 31,465 58,150 31,465
Net (loss) gain on loans under the fair value option 20,654 (11,761) (28,924) 6,316
Electronic payment processing income 10,852 11,739 21,256 22,348
Other noninterest income 15,140 7,007 24,581 14,199
Total noninterest income 60,117 56,275 113,848 108,673
Noninterest expense        
Salaries and employee benefits expense 23,234 23,135 46,330 44,451
Electronic payment processing expense 4,719 4,428 8,840 8,875
Professional services expense 3,181 4,304 5,784 7,739
Other loan origination and maintenance expense 4,909 3,287 11,136 7,704
Technology expense 2,921 2,996 5,874 5,724
Other general and administrative costs 4,853 4,159 10,116 8,993
Total noninterest expense 43,817 42,309 88,080 83,486
Net income before taxes 19,150 18,772 36,236 30,421
Income tax expense 4,539 5,069 8,224 7,351
Net income 14,611 13,703 28,012 23,070
Dividends to preferred shareholders (1,063) (400) (2,126) (800)
Net income available to common shareholders $ 13,548 $ 13,303 $ 25,886 $ 22,270
Earnings per Common Share:        
Basic (in dollars per share) $ 0.48 $ 0.53 $ 0.91 $ 0.89
Diluted (in dollars per share) $ 0.47 $ 0.52 $ 0.90 $ 0.87
Notes and securitizations        
Interest expense        
Interest expense $ 8,846 $ 10,908 $ 18,248 $ 21,882
Bank and FHLB borrowings        
Interest expense        
Interest expense $ 3,885 $ 2,330 $ 8,228 $ 5,468