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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans $ 87,161 $ 85,899 $ 260,740 $ 254,250
Investment securities 9,633 12,309 30,507 37,944
Cash, Fed Funds and other 3,043 2,498 12,254 6,270
Total interest income 99,837 100,706 303,501 298,464
Interest expense:        
Deposits 44,009 33,840 130,151 98,603
Borrowings 27,209 27,954 82,879 68,097
Total interest expense 71,218 61,794 213,030 166,700
Net interest income 28,619 38,912 90,471 131,764
Provision for credit losses 0 (1,110) 0 (886)
Net interest income after provision for credit losses 28,619 40,022 90,471 132,650
Noninterest income:        
Net gain on loan origination and sale activities 2,760 2,372 8,102 7,238
Loan servicing income 3,058 3,092 9,500 9,390
Deposit fees 2,222 2,455 6,672 7,817
Other 3,018 2,545 9,465 6,520
Total noninterest income 11,058 10,464 33,739 30,965
Noninterest expense:        
Compensation and benefits 26,760 27,002 82,387 84,031
Information services 7,742 7,579 22,664 22,207
Occupancy 4,974 5,306 15,538 16,834
General, administrative and other 9,690 9,202 31,672 29,432
Goodwill impairment charge 0 0 0 39,857
Total noninterest expense 49,166 49,089 152,261 192,361
Income (loss) before income taxes (9,489) 1,397 (28,051) (28,746)
Income tax (benefit) expense (2,207) (898) (7,034) (4,657)
Net income (loss) $ (7,282) $ 2,295 $ (21,017) $ (24,089)
Net income (loss) per share:        
Basic (in dollars per share) $ (0.39) $ 0.12 $ (1.11) $ (1.28)
Diluted (in dollars per share) $ (0.39) $ 0.12 $ (1.11) $ (1.28)
Weighted average shares outstanding:        
Basic (in shares) 18,857,565 18,792,893 18,857,335 18,774,593
Diluted (in shares) 18,857,565 18,792,893 18,857,335 18,774,593