Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.26.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest and dividend income:    
Interest and fees on loans $ 93,866 $ 90,887
Interest on securities 5,959 6,169
Dividends on FHLB stock 831 360
Interest on deposits in other banks 1,496 1,841
Total interest and dividend income 102,152 99,257
Interest expense:    
Interest on deposits 36,738 40,559
Interest on borrowings 676 2,024
Interest on subordinated debentures 1,535 1,582
Total interest expense 38,949 44,165
Net interest income before credit loss expense 63,203 55,092
Credit loss expense 2,892 2,721
Net interest income after credit loss expense 60,311 52,371
Noninterest income:    
Service charges on deposit accounts 2,127 2,217
Trade finance and other service charges and fees 1,501 1,396
Gain on sale of Small Business Administration ("SBA") loans 2,102 2,000
Gain on sale of residential mortgage loans 485 175
Other operating income 2,324 1,938
Total noninterest income 8,539 7,726
Noninterest expense:    
Salaries and employee benefits 21,956 20,972
Occupancy and equipment 4,414 4,450
Data processing 4,386 3,787
Professional fees 2,780 1,468
Supplies and communications 556 517
Advertising and promotion 688 585
Other operating expenses 3,588 3,205
Total noninterest expense 38,368 34,984
Income before tax 30,482 25,113
Income tax expense 7,925 7,441
Net income $ 22,557 $ 17,672
Basic earnings per share $ 0.76 $ 0.59
Diluted earnings per share $ 0.75 $ 0.58
Weighted-average shares outstanding:    
Basic 29,629,130 29,937,660
Diluted 29,808,999 30,058,248