Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.26.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest and dividend income:        
Interest and fees on loans $ 97,977 $ 95,691 $ 286,651 $ 279,168
Interest on securities 6,819 6,592 19,115 19,022
Dividends on FHLB stock 451 357 1,501 1,071
Interest on deposits in other banks 3,409 2,586 6,863 6,554
Total interest and dividend income 108,656 105,226 314,130 305,815
Interest expense:        
Interest on deposits 39,271 42,244 113,783 124,727
Interest on borrowings 0 324 830 3,032
Interest on subordinated debentures 1,815 1,579 4,887 4,746
Total interest expense 41,086 44,147 119,500 132,505
Net interest income before credit loss expense 67,570 61,079 194,630 173,310
Credit loss expense 4,530 2,145 8,608 12,496
Net interest income after credit loss expense 63,040 58,934 186,022 160,814
Noninterest income:        
Service charges on deposit accounts 2,080 2,160 6,309 6,546
Trade finance and other service charges and fees 1,892 1,551 5,295 4,409
Gain on sale of Small Business Administration ("SBA") loans 2,284 1,857 5,705 6,018
Gain on sale of residential mortgage loans 279 1,156 1,121 1,331
Other operating income 2,495 3,156 7,487 7,372
Total noninterest income 9,030 9,880 25,917 25,676
Noninterest expense:        
Salaries and employee benefits 23,334 22,163 68,074 65,204
Occupancy and equipment 4,529 4,507 13,326 13,301
Data processing 4,706 3,860 13,647 11,374
Professional fees 1,696 1,978 6,473 5,171
Supplies and communications 489 423 1,536 1,455
Advertising and promotion 728 712 2,096 2,094
Other operating expenses 4,367 3,714 12,104 10,090
Total noninterest expense 39,849 37,357 117,256 108,689
Income before tax 32,221 31,457 94,683 77,801
Income tax expense 8,538 9,396 24,938 22,951
Net income $ 23,683 $ 22,061 $ 69,745 $ 54,850
Basic earnings per share $ 0.8 $ 0.73 $ 2.35 $ 1.82
Diluted earnings per share $ 0.8 $ 0.73 $ 2.33 $ 1.82
Weighted-average shares outstanding:        
Basic 29,388,692 29,830,475 29,509,964 29,905,265
Diluted 29,569,858 29,880,865 29,690,052 29,955,366