v3.25.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest Income    
Loans - including fees $ 72,071 $ 64,896
Investment securities - taxable 1,783 1,665
Other 5,296 6,021
Total interest income 79,150 72,582
Interest Expense    
Deposits 36,310 33,531
Subordinated debentures 887 792
Borrowings 11,564 11,064
Total interest expense 48,761 45,387
Net interest income 30,389 27,195
Provision (benefit) for credit losses 1,295 (357)
Net interest income after provision (benefit) for credit losses 29,094 27,552
Noninterest income    
Service charges on deposits and other fees 180 508
Loan servicing fees 995 3,862
Mortgage Purchase Program ("MPP") fees 1,141 945
Net gain on sale of loans 18,587 11,352
Other noninterest income 1,970 (20)
Total noninterest income 22,873 16,647
Noninterest expense    
Salaries and employee benefits 20,443 18,020
Occupancy and equipment 972 1,295
Data processing expense 2,107 2,498
Professional fees 1,228 1,119
Other taxes and insurance 1,787 1,810
Other noninterest expense 2,835 3,242
Total noninterest expense 29,372 27,984
Income - before income taxes 22,595 16,215
Income tax expense 5,348 3,964
Net income 17,247 12,251
Preferred stock dividends 2,206 2,413
Net income available to common stockholders $ 15,041 $ 9,838
Basic earnings per common share (in USD per share) $ 0.50 $ 0.38
Diluted earnings per share (in USD per share) $ 0.49 $ 0.38

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