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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME:        
Loans receivable $ 175,373 $ 161,191 $ 344,050 $ 317,666
Mortgage-backed securities 15,416 16,708 31,160 33,642
Securities and cash equivalents 9,470 11,239 18,917 22,518
Interest and Dividend Income, Operating, Total 200,259 189,138 394,127 373,826
INTEREST EXPENSE:        
Deposits 49,316 48,850 98,053 93,463
FHLB advances 3,370 3,621 4,230 6,593
Other borrowings 675 1,160 1,369 2,335
Subordinated debt 2,499 2,961 4,993 5,930
Interest Expense, Operating (55,860) (56,592) (108,645) (108,321)
Net interest income 144,399 132,546 285,482 265,505
PROVISION FOR CREDIT LOSSES 4,795 2,369 7,934 2,889
Net interest income after provision for credit losses 139,604 130,177 277,548 262,616
NON-INTEREST INCOME:        
Deposit fees and other service charges 10,835 10,590 21,604 21,612
Mortgage banking operations 3,226 3,006 6,329 5,341
BOLI 2,384 2,367 4,959 4,604
Miscellaneous 1,221 1,988 3,567 3,880
Other operating income 17,666 17,951 36,459 35,437
Net loss on sale of securities (3) (562) (3) (5,465)
Net change in valuation of financial instruments carried at fair value 88 (190) 403 (1,182)
Total non-interest income 17,751 17,199 36,859 28,790
NON-INTEREST EXPENSE:        
Salary and employee benefits 65,486 63,831 130,343 126,200
Less capitalized loan origination costs (4,924) (4,639) (8,254) (8,315)
Occupancy and equipment 12,256 12,128 24,353 24,590
Information and computer data services 8,199 7,240 15,827 14,560
Payment and card processing services 5,899 5,691 11,649 11,401
Professional and legal expenses 2,271 1,201 4,701 2,731
Advertising and marketing 1,087 1,198 1,677 2,277
Deposit insurance 2,800 2,858 5,597 5,667
State and municipal business and use taxes 1,416 1,394 2,870 2,698
Real estate operations, net 392 297 331 77
Amortization of core deposit intangibles 455 724 911 1,447
Miscellaneous 6,011 6,205 12,602 12,436
Total non-interest expense 101,348 98,128 202,607 195,769
Income before provision for income taxes 56,007 49,248 111,800 95,637
PROVISION FOR INCOME TAXES 10,511 9,453 21,169 18,283
NET INCOME $ 45,496 $ 39,795 $ 90,631 $ 77,354
Earnings per common share:        
Basic $ 1.31 $ 1.15 $ 2.62 $ 2.25
Diluted 1.31 1.15 2.61 2.24
Cumulative dividends declared per common share $ 0.48 $ 0.48 $ 0.96 $ 0.96
Weighted average number of common shares outstanding, Basic 34,627,433 34,488,163 34,568,948 34,439,863
Weighted average number of common shares outstanding, Diluted 34,738,948 34,537,012 34,761,044 34,539,620