XML 18 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
INTEREST INCOME:        
Interest and fees on loans $ 66,422 $ 64,138 $ 196,231 $ 182,608
Taxable interest on investment securities 11,102 13,472 34,420 42,462
Nontaxable interest on investment securities 138 159 414 505
Interest on interest earning deposits 1,846 2,048 4,309 5,177
Total interest income 79,508 79,817 235,374 230,752
INTEREST EXPENSE:        
Deposits 20,121 20,256 59,760 55,097
Junior subordinated debentures 474 541 1,417 1,627
Borrowings 1,542 6,062 8,153 18,427
Interest Expense, Operating, Total 22,137 26,859 69,330 75,151
Net interest income 57,371 52,958 166,044 155,601
Provision for credit losses 1,775 2,439 2,782 5,099
Net interest income after provision for credit losses 55,596 50,519 163,262 150,502
NONINTEREST INCOME:        
Loss on sale of investment securities, net 0 (6,945) (10,741) (18,839)
Gain on sale of loans, net 0 0 0 26
Interest rate swap fees 96 0 115 52
Bank owned life insurance income 1,008 860 3,206 2,711
Gain on sale of other assets, net 0 1,480 8 1,529
Other income 1,966 1,520 6,254 4,408
Total noninterest income 8,325 1,837 13,745 4,183
NONINTEREST EXPENSE:        
Compensation and employee benefits 26,082 24,367 77,348 74,291
Occupancy and equipment 4,665 4,850 14,431 14,547
Data processing 3,754 3,964 11,317 10,879
Marketing 284 128 955 583
Professional services 1,332 490 3,188 1,852
State/municipal business and use taxes 1,235 1,249 3,660 3,709
Federal deposit insurance premium 796 824 2,418 2,431
Amortization of intangible assets 284 399 889 1,241
Other expense 3,183 3,019 9,877 9,223
Total noninterest expense 41,615 39,290 124,083 118,756
Income before income taxes 22,306 13,066 52,924 35,929
Income tax expense 3,137 1,643 7,629 4,599
Net income $ 19,169 $ 11,423 $ 45,295 $ 31,330
Basic earnings per share (in dollars per share) $ 0.56 $ 0.33 $ 1.33 $ 0.91
Diluted earnings per share (in dollars per share) 0.55 0.33 1.31 0.90
Dividends declared per share (in dollars per share) $ 0.24 $ 0.23 $ 0.72 $ 0.69
Average Number of Basic Common Shares Outstanding (in shares) 33,953,810 34,322,069 34,009,010 34,584,851
Average number of diluted shares outstanding (in shares) 34,413,386 34,658,674 34,481,877 35,002,375
Net Income $ 19,169 $ 11,423 $ 45,295 $ 31,330
Service charges and other fees        
NONINTEREST INCOME:        
Service charges, other fees and card revenue 3,046 2,788 8,953 8,393
Card revenue        
NONINTEREST INCOME:        
Service charges, other fees and card revenue $ 2,209 $ 2,134 $ 5,950 $ 5,903