Consolidated Statements of Income - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Interest and dividend income: | |||||
| Interest and fees on loans receivable | $ 366,153 | $ 339,811 | $ 257,878 | ||
| Interest on securities | 21,583 | 16,938 | 12,351 | ||
| Dividends on FHLB stock | 1,436 | 1,229 | 1,024 | ||
| Interest on deposits in other banks | 9,611 | 11,350 | 2,560 | ||
| Total interest and dividend income | 398,783 | 369,328 | 273,813 | ||
| Interest expense: | |||||
| Interest on deposits | 182,692 | 134,708 | 25,938 | ||
| Interest on borrowings | 6,746 | 6,867 | 2,249 | ||
| Interest on subordinated debentures | 6,571 | 6,482 | 7,979 | ||
| Total interest expense | 196,009 | 148,057 | 36,166 | ||
| Net interest income before credit loss expense | 202,774 | 221,271 | 237,647 | ||
| Credit loss expense | 4,419 | 4,342 | 836 | ||
| Net interest income after credit loss expense | 198,355 | 216,929 | 236,811 | ||
| Noninterest income: | |||||
| Service charges on deposit accounts | 9,381 | 10,147 | 11,488 | ||
| Trade finance and other service charges and fees | 5,309 | 4,832 | 4,805 | ||
| Gain on sale of SBA loans | 6,112 | 5,701 | 9,478 | ||
| Gain on sale of mortgage loans | 1,469 | ||||
| Net gain (loss) on sales of securities | (1,871) | ||||
| Other operating income | 9,314 | 15,370 | 8,429 | ||
| Total noninterest income | 31,585 | 34,179 | 34,200 | ||
| Noninterest expense: | |||||
| Salaries and employee benefits | 83,368 | 81,398 | 76,140 | ||
| Occupancy and equipment | 18,146 | 18,340 | 17,648 | ||
| Data processing | 14,876 | 13,695 | 13,134 | ||
| Professional fees | 6,956 | 6,255 | 5,692 | ||
| Supplies and communications | 2,261 | 2,479 | 2,638 | ||
| Advertising and promotion | 3,028 | 3,105 | 3,637 | ||
| Other operating expenses | 12,700 | 11,255 | 11,395 | ||
| Total noninterest expense | 141,335 | 136,527 | 130,284 | ||
| Income before tax | 88,605 | 114,581 | 140,727 | ||
| Income tax expense | 26,404 | 34,540 | 39,333 | ||
| Net income | $ 62,201 | $ 80,041 | $ 101,394 | ||
| Basic earnings per share | [1] | $ 2.06 | $ 2.63 | $ 3.33 | |
| Diluted earnings per share | [1] | $ 2.05 | $ 2.62 | $ 3.32 | |
| Weighted-average shares outstanding: | |||||
| Basic | 30,019,815 | 30,269,740 | 30,299,148 | ||
| Diluted | 30,102,336 | 30,330,258 | 30,392,057 | ||
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- Definition Dividends On Federal Reserve Bank And Federal Home Loan Bank Stock No definition available.
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- Definition Fees and Commissions, Depositor Accounts1 No definition available.
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- Definition Gain on sale of mortgage loans. No definition available.
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- Definition Remittance fees. No definition available.
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- Definition Amount of unrealized and realized gain (loss) on investment in debt and equity securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest expense incurred during the reporting period on short-term borrowings associated with Federal Home Loan Bank and Federal Reserve Bank advances. No definition available.
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Interest expense incurred during the reporting period on subordinated notes and debentures. Includes amortization of expenses incurred in the issuance of subordinated notes and debentures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest income derived from funds deposited with both domestic and foreign financial institutions including funds in money market and other accounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities subject to state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of credit loss expense (reversal of expense) for financing receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of expenses directly related to the supplies and postage. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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