In millions, except per share items | Jun-30-23 | Dec-31-22 | Sep-30-22 | Jun-30-22 | Mar-31-22 | Dec-31-21 | Sep-30-21 | Jun-30-21 |
| 10-Q | 8-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q |
INTEREST AND DIVIDEND INCOME | | | | | | | | |
Interest and fees on loans | | | 147.3 | 114.3 | 93.5 | 82.1 | 74.9 | 71.7 |
Interest on interest earning deposits with other banks | | | 3.6 | 1.5 | 0.6 | | 0.3 | 0.2 |
Interest on investment securities | | | 1.2 | 0.7 | 0.1 | 0.1 | 0.1 | 0.1 |
|
Dividends on other investments | | | | | | | | |
Total interest income | | 192.2 | 152.7 | 117.1 | 94.9 | 83.1 | 75.6 | 72.4 |
|
INTEREST EXPENSE | | | | | | | | |
Interest on deposits | | 19.0 | 8.5 | 3.3 | 2.2 | 2.3 | 2.6 | 2.9 |
Interest on borrowed funds | | | 1.2 | 1.2 | 1.3 | 1.3 | 1.4 | 1.5 |
Total interest expense | | 20.4 | 9.6 | 4.5 | 3.5 | 3.6 | 4.0 | 4.5 |
Net interest income | | 171.8 | 143.0 | 112.7 | 91.4 | 79.4 | 71.7 | 68.0 |
|
PROVISION FOR CREDIT LOSSES - LOANS | | | | | | | | |
RECAPTURE FOR UNFUNDED COMMITMENTS | | | | | | | | |
Net interest income after provision for credit losses - loans and unfunded commitments | | 92.7 | 88.6 | 76.4 | 68.9 | 69.5 | 68.1 | 62.4 |
|
NONINTEREST INCOME | | | | | | | | |
Deposit service charges and fees | | | | | | | | |
Loan referral fees | | | | | | | | |
Gain on sales of loans, net | | | | | | 0.4 | 0.4 | 0.2 |
Unrealized (loss) gain on equity securities, net | | -0.2 | | | | | | |
Other income | | 1.2 | 1.3 | 1.4 | 1.0 | 0.9 | 0.7 | 0.6 |
|
Noninterest income, excluding BaaS program income and BaaS indemnification income | | | | | | | | |
Noninterest income | | | | | | | | |
Total noninterest income | | 124.7 | 96.1 | 67.8 | 47.1 | 28.1 | 15.9 | 11.8 |
|
NONINTEREST EXPENSE | | | | | | | | |
Salaries and employee benefits | | | 48.4 | 43.8 | 40.5 | 37.1 | 33.0 | 29.0 |
Occupancy | | | 4.4 | 4.3 | 4.2 | 4.1 | 4.1 | 4.2 |
|
Data processing and software licenses | | | | | | | | |
Legal and professional expenses | | 6.8 | 4.9 | 3.5 | 3.1 | 3.1 | 2.8 | 2.4 |
Point of sale expense | | | 2.7 | 2.2 | 2.5 | 2.4 | 2.2 | 2.6 |
Excise taxes | | | 1.9 | 1.8 | 1.6 | 1.6 | 1.5 | 1.3 |
|
Federal Deposit Insurance Corporation ("FDIC") assessments | | | | | | | | |
Director and staff expenses | | | | | | | | |
Marketing | | 0.4 | 0.3 | 0.4 | 0.5 | 0.5 | 0.4 | 0.3 |
Other expense | | | 6.0 | 5.3 | 4.8 | 4.1 | 3.2 | 2.8 |
|
Noninterest expense, excluding BaaS loan and BaaS fraud expense | | | | | | | | |
BaaS loan and fraud expense | | | | | | | | |
Total noninterest expense | | 166.8 | 140.7 | 105.8 | 81.3 | 63.3 | 52.7 | 46.2 |
Income before provision for income taxes | | | 44.0 | 38.5 | 34.7 | 34.4 | 31.3 | 28.0 |
PROVISION FOR INCOME TAXES | | 10.0 | 9.2 | 8.1 | 7.5 | 7.4 | 7.0 | 6.2 |
NET INCOME | | 40.6 | 34.8 | 30.4 | 27.2 | 27.0 | 24.4 | 21.8 |
|
Basic earnings per common share (in usd per share) | | $3.14 | $2.73 | $2.43 | $2.23 | $2.25 | $2.04 | $1.82 |
Diluted earnings per common share (in usd per share) | | $3.00 | $2.62 | $2.34 | $2.14 | $2.17 | $1.97 | $1.77 |
|
Weighted average number of common shares outstanding: | | | | | | | | |
Basic (in shares) | | 12.9 | 12.7 | 12.5 | 12.2 | 12.0 | 12.0 | 11.9 |
Diluted (in shares) | | 13.5 | 13.2 | 13.0 | 12.7 | 12.5 | 12.4 | 12.3 |