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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements. |
Quarterly Financial Data (Unaudited) | 23. Quarterly Financial Data (unaudited) Selected unaudited quarterly financial data for the fiscal years ended December 31, 2024 and 2023 is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023
​ |  | 4th |  | 3rd |  | 2nd |  | 1st |  | 4th |  | 3rd |  | 2nd |  | 1st
​ | ​ | (In thousands, except per share data)
Quarterly operating data: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Interest income | ​ | $ | 120,040 | ​ | $ | 122,593 | ​ | $ | 113,230 | ​ | $ | 109,499 | ​ | $ | 108,763 | ​ | $ | 104,036 | ​ | $ | 96,561 | ​ | $ | 92,117
Interest expense | ​ |  | 68,805 | ​ |  | 76,990 | ​ |  | 70,454 | ​ |  | 67,102 | ​ |  | 62,678 | ​ |  | 59,609 | ​ |  | 53,183 | ​ |  | 46,855
Net interest income | ​ |  | 51,235 | ​ |  | 45,603 | ​ |  | 42,776 | ​ |  | 42,397 | ​ |  | 46,085 | ​ |  | 44,427 | ​ |  | 43,378 | ​ |  | 45,262
Provision for loan losses | ​ |  | 6,440 | ​ |  | 1,727 | ​ |  | 809 | ​ |  | 592 | ​ |  | 998 | ​ |  | 596 | ​ |  | 1,416 | ​ |  | 7,508
Other operating income (loss) | ​ |  | (71,022) | ​ |  | 6,277 | ​ |  | 4,216 | ​ |  | 3,084 | ​ |  | 7,402 | ​ |  | 3,309 | ​ |  | 5,020 | ​ |  | 6,857
Other operating expense | ​ |  | 45,630 | ​ |  | 38,696 | ​ |  | 39,047 | ​ |  | 39,892 | ​ |  | 40,735 | ​ |  | 36,388 | ​ |  | 35,110 | ​ |  | 39,156
Income (loss) before income tax expense (benefit) | ​ |  | (71,857) | ​ |  | 11,457 | ​ |  | 7,136 | ​ |  | 4,997 | ​ |  | 11,754 | ​ |  | 10,752 | ​ |  | 11,872 | ​ |  | 5,455
Income tax expense (benefit) | ​ | ​ | (22,612) | ​ | ​ | 2,551 | ​ | ​ | 1,814 | ​ | ​ | 1,313 | ​ | ​ | 3,655 | ​ | ​ | 2,917 | ​ | ​ | 3,186 | ​ | ​ | 1,411
Net income (loss) | ​ | $ | (49,245) | ​ | $ | 8,906 | ​ | $ | 5,322 | ​ | $ | 3,684 | ​ | $ | 8,099 | ​ | $ | 7,835 | ​ | $ | 8,686 | ​ | $ | 4,044
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings (loss) per common share | ​ | $ | (1.61) | ​ | $ | 0.30 | ​ | $ | 0.18 | ​ | $ | 0.12 | ​ | $ | 0.27 | ​ | $ | 0.26 | ​ | $ | 0.29 | ​ | $ | 0.13
Diluted earnings (loss) per common share | ​ | $ | (1.61) | ​ | $ | 0.30 | ​ | $ | 0.18 | ​ | $ | 0.12 | ​ | $ | 0.27 | ​ | $ | 0.26 | ​ | $ | 0.29 | ​ | $ | 0.13
Dividends per common share | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding for: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share | ​ | ​ | 30,519 | ​ | ​ | 29,742 | ​ | ​ | 29,789 | ​ | ​ | 29,742 | ​ | ​ | 29,650 | ​ | ​ | 29,703 | ​ | ​ | 30,090 | ​ | ​ | 30,265
Diluted earnings per share | ​ | ​ | 30,519 | ​ | ​ | 29,742 | ​ | ​ | 29,789 | ​ | ​ | 29,742 | ​ | ​ | 29,650 | ​ | ​ | 29,703 | ​ | ​ | 30,090 | ​ | ​ | 30,265
​ ​ As previously disclosed on Form 8-K filed on January 26, 2024, the Company’s consolidated financial statements and ratios for the three month period ended March 31, 2023, the three and six month periods ended June 30, 2023 and the three and nine month periods ended September 30, 2023, were in need of restatement to correct the accounting treatment of employee retention credits (“ERCs”), which were incorrectly recognized as income during such periods. On February 12, 2024, the Company filed 10-Q/A’s for the quarterly periods ended March 31, 2023, June 30, 2023 and September 30, 2023, to correct the previously reported treatment of ERCs. The change impacted net income by a decrease of $1.1 million for the period ended March 31, 2023, an increase of $0.1 million and a decrease of $1.1 million, respectively, for the three and six month periods ended June 30, 2023, and a decrease of $1.6 million and $2.6 million, respectively, for the three and nine month periods ended September 30, 2023. The table above reflects the corrected financial results.

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