v3.26.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Interest Income    
Loans - including fees $ 351,238 $ 285,490
Investment securities - taxable 463 637
FHLB stock - taxable 6,513 6,399
Interest bearing deposits 21,990 25,006
Total interest income 380,204 317,532
Interest Expense    
Deposits 176,739 151,125
Subordinated debentures 3,138 3,886
Borrowings 49,588 48,306
Total interest expense 229,465 203,317
Net interest income 150,739 114,215
Provision (benefit) for credit loss and unfunded commitments 2,098 (328)
Net interest income after provision (benefit) for credit losses and unfunded commitments 148,641 114,543
Noninterest income    
Service charges on deposits and other fees 890 1,813
Loan servicing fees 4,719 8,876
Mortgage Purchase Program ("MPP") fees 6,022 5,418
Net gain on sale of loans 77,198 56,688
Other noninterest income 2,151 128
Total noninterest income 90,980 72,923
Noninterest expense    
Salaries and employee benefits 90,171 77,791
Occupancy and equipment 3,449 4,454
Data processing expense 8,726 8,960
Professional fees 6,235 4,139
Other taxes and insurance 7,584 7,024
Other noninterest expense 13,063 12,222
Total noninterest expense 129,228 114,590
Income - before income taxes 110,393 72,876
Income tax expense 26,984 17,717
Net income 83,409 55,159
Preferred stock dividends and related costs 11,791 7,997
Net income available to common stockholders $ 71,618 $ 47,162
Basic earnings per common share (in USD per share) $ 2.14 $ 1.83
Diluted earnings per share (in USD per share) $ 2.11 $ 1.83
Provision for credit losses    
Interest Expense    
Provision (benefit) for credit loss and unfunded commitments $ 2,153 $ 881
Provision (benefit) for unfunded commitments    
Interest Expense    
Provision (benefit) for credit loss and unfunded commitments $ (55) $ (1,209)

Source

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