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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST AND DIVIDEND INCOME:        
Interest and fees on loans receivable $ 75,408 $ 72,142 $ 147,787 $ 143,655
Securities:        
Taxable 10,118 8,262 19,863 14,398
Tax-exempt 149 156 305 323
Dividends 96 92 195 181
Total interest and dividend income 85,771 80,652 168,150 158,557
INTEREST EXPENSE:        
Deposits 32,276 33,794 64,910 65,342
Borrowed funds and finance lease liabilities 222 3 458 6
Subordinated notes and debentures 1,076 1,138 2,154 2,270
Total interest expense 33,574 34,935 67,522 67,618
NET INTEREST INCOME 52,197 45,717 100,628 90,939
PROVISION FOR CREDIT LOSS EXPENSE 4,338 2,591 5,894 3,911
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSS EXPENSE 47,859 43,126 94,734 87,028
NON-INTEREST INCOME:        
Service charges on deposit accounts 1,656 1,794 3,370 3,488
Other service charges and fees 427 712 937 1,407
Wealth and asset management fees 2,109 2,007 3,905 3,809
Net realized and unrealized gains (losses) on equity securities 567 (80) 318 111
Mortgage banking 172 187 268 383
Bank owned life insurance 976 784 1,736 1,551
Card processing and interchange income 2,278 2,187 4,385 4,203
Other non-interest income 823 1,274 2,596 2,868
Total non-interest income 9,008 8,865 17,515 17,820
NON-INTEREST EXPENSES:        
Compensation and benefits 19,348 17,676 39,912 36,463
Net occupancy expense 4,032 3,580 8,070 7,220
Technology expense 5,462 5,573 10,840 10,645
State and local taxes 1,301 1,237 2,593 2,380
Legal, professional, and examination fees 997 1,119 1,846 2,291
Advertising 556 553 1,070 1,238
FDIC insurance premiums 937 1,018 1,922 2,008
Card processing and interchange expenses 1,253 878 2,413 2,057
Merger costs 357 0 1,886 0
Other non-interest expenses 5,374 4,355 10,103 9,111
Total non-interest expenses 39,617 35,989 80,655 73,413
INCOME BEFORE INCOME TAXES 17,250 16,002 31,594 31,435
INCOME TAX EXPENSE 3,294 3,045 6,157 5,878
NET INCOME 13,956 12,957 25,437 25,557
PREFERRED STOCK DIVIDENDS 1,075 1,075 2,150 2,150
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 12,881 $ 11,882 $ 23,287 $ 23,407
AVERAGE COMMON SHARES OUTSTANDING, Basic (in share) 20,881,164 20,830,511 20,874,106 20,827,139
AVERAGE COMMON SHARES OUTSTANDING, Diluted (in shares) 20,952,891 20,893,396 20,939,424 20,890,203
PER COMMON SHARE DATA:        
Basic Earnings Per Common Share (in dollars per share) $ 0.61 $ 0.57 $ 1.11 $ 1.12
Diluted Earnings Per Common Share (in dollars per share) 0.61 0.56 1.10 1.11
Cash Dividends Declared (in dollars per share) $ 0.180 $ 0.175 $ 0.360 $ 0.350