v3.26.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest Income    
Loans - including fees $ 94,913 $ 72,071
Investment securities - taxable 57 154
FHLB stock - taxable 1,745 1,629
Interest bearing deposits 4,788 5,296
Total interest income 101,503 79,150
Interest Expense    
Deposits 44,455 36,310
Subordinated debentures 2,102 887
Borrowings 13,673 11,564
Total interest expense 60,230 48,761
Net interest income 41,273 30,389
Provision (benefit) for credit losses and unfunded commitments (445) 1,295
Net interest income after provision (benefit) for credit losses and unfunded commitments 41,718 29,094
Noninterest income    
Service charges on deposits and other fees 264 180
Loan servicing fees 3,548 995
Mortgage Purchase Program ("MPP") fees 1,970 1,141
Net gain on sale of loans 16,547 18,587
Other noninterest income (loss) (184) 1,970
Total noninterest income 22,145 22,873
Noninterest expense    
Salaries and employee benefits 24,353 20,443
Occupancy and equipment 820 972
Data processing expense 2,349 2,107
Professional fees 1,318 1,228
Other taxes and insurance 2,237 1,787
Other noninterest expense 3,358 2,835
Total noninterest expense 34,435 29,372
Income - before income taxes 29,428 22,595
Income tax expense 7,274 5,348
Net income 22,154 17,247
Preferred stock dividends 453 2,206
Net income available to common stockholders $ 21,701 $ 15,041
Basic earnings per common share (in USD per share) $ 0.63 $ 0.50
Diluted earnings per share (in USD per share) $ 0.62 $ 0.49
Provision (benefit) for credit losses    
Interest Expense    
Provision (benefit) for credit losses and unfunded commitments $ (469) $ 1,385
Provision (benefit) for unfunded commitments    
Interest Expense    
Provision (benefit) for credit losses and unfunded commitments $ 24 $ (90)

Source

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