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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Loans receivable $ 308,945 $ 310,311 $ 899,786 $ 916,175
Investment securities 12,690 15,125 38,459 45,720
Federal Home Loan Bank stock 376 375 1,128 1,305
Deposits with banks 12,184 13,680 37,135 41,793
Total interest and dividend income 334,195 339,491 976,508 1,004,993
Interest Expense        
Time deposits 93,087 119,786 283,517 347,408
Other deposits 46,300 45,918 133,104 133,218
Advances from Federal Home Loan Bank 3,075 1,885 5,721 13,517
Long-term debt 2,043 2,351 6,092 5,935
Short-term debt 103 396 627 1,872
Total interest expense 144,608 170,336 429,061 501,950
Net interest income before provision for credit losses 189,587 169,155 547,447 503,043
Provision for credit losses 28,731 14,500 55,431 23,000
Net interest income after provision for credit losses 160,856 154,655 492,016 480,043
Non-Interest Income        
Net gains/(losses) from equity securities 3,263 4,253 (2,318) (6,204)
Net gains from securities available for sale 0 0 0 1,107
Letters of credit commissions 2,256 2,081 6,467 5,686
Other operating income 7,272 5,914 20,455 16,841
Total non-interest income 21,021 20,365 47,616 40,191
Non-Interest Expense        
Salaries and employee benefits 43,462 40,859 129,012 124,850
Occupancy expense 6,104 5,938 17,791 17,557
Computer and equipment expense 5,760 4,753 16,974 15,212
Professional services expense 7,360 7,021 23,696 22,225
Data processing service expense 3,991 4,330 13,028 12,136
FDIC and regulatory assessments 2,783 3,250 9,359 13,081
Marketing expense 1,494 1,614 4,485 5,002
Other real estate owned (income)/expense (1,078) 596 (1,211) 2,331
Amortization of investments in low-income housing and alternative energy partnerships 12,149 24,077 32,382 61,905
Amortization of core deposit intangibles 229 250 729 848
Other operating expense 5,863 4,179 16,662 14,311
Total non-interest expense 88,117 96,867 262,907 289,458
Income before income tax expense 93,760 78,153 276,725 230,776
Income tax expense 16,109 10,639 52,118 24,998
Net income 77,651 67,514 224,607 205,778
Other Comprehensive Income/(Loss), net of tax        
Net holding gains on securities available-for-sale 9,524 26,607 25,909 19,737
Net holding losses on cash flow hedge derivatives 0 0 0 (774)
Total other comprehensive income, net of tax 9,524 26,607 25,909 18,963
Total comprehensive income $ 87,175 $ 94,121 $ 250,516 $ 224,741
Net Income Per Common Share:        
Basic (in dollars per share) $ 1.13 $ 0.94 $ 3.22 $ 2.84
Diluted (in dollars per share) 1.13 0.94 3.21 2.83
Cash dividends paid per common share (in dollars per share) $ 0.34 $ 0.34 $ 1.02 $ 1.02
Average Common Shares Outstanding:        
Basic (in shares) 68,727,390 71,786,624 69,692,964 72,370,995
Diluted (in shares) 68,990,648 72,032,456 69,946,877 72,607,550
Deposit Account [Member]        
Non-Interest Income        
Non-Interest Income $ 2,011 $ 1,572 $ 5,688 $ 4,900
Asset Management [Member]        
Non-Interest Income        
Non-Interest Income $ 6,219 $ 6,545 $ 17,324 $ 17,861