v3.25.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Interest Income    
Loans - Including fees $ 285,490 $ 237,396
Investment securities - Taxable 637 923
Other 31,405 29,063
Total interest income 317,532 267,382
Interest Expense    
Deposits 151,125 123,905
Subordinated debentures 3,886 4,562
Borrowings 48,306 37,696
Total interest expense 203,317 166,163
Net Interest Income 114,215 101,219
Provision (Benefit) for Credit Losses (328) (1,485)
Net Interest Income after Provision (Benefit) for Credit Losses 114,543 102,704
Noninterest Income    
Service charges on deposits and other fees 1,813 2,669
Loan servicing fees 8,876 10,304
MPP fees 5,418 3,584
Net gain on sale of loans 56,688 77,977
Other noninterest income 128 533
Total noninterest income 72,923 95,067
Noninterest Expense    
Salaries and employee benefits 77,791 104,286
Occupancy and equipment 4,454 6,924
Data processing expense 8,960 11,107
Professional fees 4,139 4,879
Other taxes and insurance 7,024 6,976
Other noninterest expense 12,222 18,912
Total noninterest expense 114,590 153,084
Income - Before Income Taxes 72,876 44,687
Income Tax Expense 17,717 10,925
Net income 55,159 33,762
Preferred Stock Dividends 7,997 9,650
Net income available to common stockholders $ 47,162 $ 24,112
Basic earnings per common share (in USD per share) $ 1.83 $ 0.94
Diluted earnings per share (in USD per share) $ 1.83 $ 0.93

Source

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