Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.25.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest and dividend income:        
Interest and fees on loans receivable $ 95,691 $ 92,182 $ 279,168 $ 274,608
Interest on securities 6,592 5,523 19,022 15,717
Dividends on FHLB stock 357 356 1,071 1,075
Interest on deposits in other banks 2,586 2,356 6,554 7,270
Total interest and dividend income 105,226 100,417 305,815 298,670
Interest expense:        
Interest on deposits 42,244 47,153 124,727 139,286
Interest on borrowings 324 1,561 3,032 5,112
Interest on subordinated debentures 1,579 1,652 4,746 4,948
Total interest expense 44,147 50,366 132,505 149,346
Net interest income before credit loss expense 61,079 50,051 173,310 149,324
Credit loss expense 2,145 2,286 12,496 3,474
Net interest income after credit loss expense 58,934 47,765 160,814 145,850
Noninterest income:        
Service charges on deposit accounts 2,160 2,311 6,546 7,189
Trade finance and other service charges and fees 1,551 1,254 4,409 3,945
Gain on sale of Small Business Administration ("SBA") loans 1,857 1,544 6,018 4,669
Gain on sale of residential mortgage loans 1,156 324 1,331 1,132
Other operating income 3,156 3,005 7,372 7,293
Total noninterest income 9,880 8,438 25,676 24,228
Noninterest expense:        
Salaries and employee benefits 22,163 20,851 65,204 62,870
Occupancy and equipment 4,507 4,499 13,301 13,643
Data processing 3,860 3,839 11,374 11,076
Professional fees 1,978 1,492 5,171 5,134
Supplies and communications 423 538 1,455 1,710
Advertising and promotion 712 631 2,094 2,207
Other operating expenses 3,714 3,230 10,090 10,160
Total noninterest expense 37,357 35,080 108,689 106,800
Income before tax 31,457 21,123 77,801 63,278
Income tax expense 9,396 6,231 22,951 18,772
Net income $ 22,061 $ 14,892 $ 54,850 $ 44,506
Basic earnings per share $ 0.73 $ 0.49 $ 1.82 $ 1.47
Diluted earnings per share $ 0.73 $ 0.49 $ 1.82 $ 1.47
Weighted-average shares outstanding:        
Basic 29,830,475 29,968,004 29,905,265 30,048,748
Diluted 29,880,865 30,033,679 29,955,366 30,117,269