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OPERATING SEGMENTS | 6 Months Ended
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Jun. 30, 2025
OPERATING SEGMENTS |
OPERATING SEGMENTS | NOTE 17: OPERATING SEGMENTS ​ The Company’s banking operation is its only operating segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. The parent holding company does not have any significant operations other than ownership of the Bank, and the parent holding company’s only income is equity in the earnings of the Bank. Our chief executive officer is our chief operating decision maker. Our chief executive officer reviews actual net income versus budgeted net income, as well as comparison to other comparable financial reporting periods, to assess performance on a monthly basis and to make decisions about allocating capital and personnel. Financial results by operating segment (all attributed to the banking segment), including significant expense categories provided to the chief operating decision maker, are detailed below for the three and six months ended June 30, 2025 and 2024. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended June 30,
​ |  | 2025 |  | 2024
​ | ​ | (In Thousands)
Interest income | ​ | $ | 80,975 | ​ | $ | 80,927
Interest expense | ​ |  | 30,012 | ​ |  | 34,109
Net interest income | ​ |  | 50,963 | ​ |  | 46,818
​ | ​ | ​ | ​ | ​ | ​ | ​
Credit loss expense | ​ |  | (110) | ​ |  | (607)
Net interest income after credit loss expense | ​ |  | 51,073 | ​ |  | 47,425
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest Income | ​ |  |  | ​ |  | ​
Commissions | ​ |  | 411 | ​ |  | 269
Overdraft and insufficient funds fees | ​ |  | 1,266 | ​ |  | 1,230
Point-of-sale and ATM fee income and service charges | ​ |  | 3,444 | ​ |  | 3,588
Net gain on loan sales | ​ |  | 893 | ​ |  | 1,127
Late charges and fees on loans | ​ |  | 340 | ​ |  | 136
Fees from debit card contracts | ​ |  | 368 | ​ |  | 346
Other income | ​ |  | 1,490 | ​ |  | 3,137
​ | ​ |  | 8,212 | ​ |  | 9,833
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest Expense | ​ |  |  | ​ |  | ​
Salaries and incentives | ​ |  | 16,275 | ​ |  | 16,216
Employee benefits | ​ |  | 3,730 | ​ |  | 3,670
Net occupancy expense | ​ |  | 3,003 | ​ |  | 2,967
Technology, furniture and equipment expense | ​ |  | 5,432 | ​ |  | 4,874
Postage | ​ |  | 825 | ​ |  | 777
Insurance | ​ |  | 1,095 | ​ |  | 1,263
Advertising | ​ |  | 705 | ​ |  | 891
Office supplies and printing | ​ |  | 238 | ​ |  | 236
Telephone | ​ |  | 705 | ​ |  | 685
Legal, audit and other professional fees | ​ |  | 929 | ​ |  | 1,864
Expense (income) on other real estate and repossessions | ​ |  | (168) | ​ |  | 285
Intangible asset amortization | ​ |  | 108 | ​ |  | 109
Travel meals and entertainment | ​ |  | 711 | ​ |  | 606
Other operating expenses | ​ |  | 1,417 | ​ |  | 1,966
​ | ​ |  | 35,005 | ​ |  | 36,409
​ | ​ | ​ | ​ | ​ | ​ | ​
Income Before Income Taxes | ​ |  | 24,280 | ​ |  | 20,849
Provision for Income Taxes | ​ |  | 4,494 | ​ |  | 3,861
Net Income | ​ | $ | 19,786 | ​ | $ | 16,988
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024
​ |  | (In Thousands)
Interest income |  | $ | 161,218 |  | $ | 158,317
Interest expense | ​ |  | 60,921 | ​ |  | 66,683
Net interest income | ​ |  | 100,297 | ​ |  | 91,634
​ | ​ | ​ | ​ | ​ | ​ | ​
Credit loss expense | ​ |  | (458) | ​ |  | 23
Net interest income after credit loss expense | ​ |  | 100,755 | ​ |  | 91,611
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest Income | ​ |  |  | ​ |  |
Commissions | ​ |  | 673 | ​ |  | 650
Overdraft and insufficient funds fees | ​ |  | 2,481 | ​ |  | 2,519
Point-of-sale and ATM fee income and service charges | ​ |  | 6,678 | ​ |  | 6,771
Net gain on loan sales | ​ |  | 1,494 | ​ |  | 1,804
Late charges and fees on loans | ​ |  | 583 | ​ |  | 303
Fees from debit card contracts | ​ |  | 868 | ​ |  | 1,101
Other income | ​ |  | 2,025 | ​ |  | 3,491
​ | ​ |  | 14,802 | ​ |  | 16,639
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest Expense | ​ |  |  | ​ |  |
Salaries and incentives | ​ |  | 32,478 | ​ |  | 32,078
Employee benefits | ​ |  | 7,656 | ​ |  | 7,464
Net occupancy expense | ​ |  | 6,382 | ​ |  | 5,985
Technology, furniture and equipment expense | ​ |  | 10,586 | ​ |  | 9,695
Postage | ​ |  | 1,756 | ​ |  | 1,584
Insurance | ​ |  | 2,260 | ​ |  | 2,407
Advertising | ​ |  | 995 | ​ |  | 1,241
Office supplies and printing | ​ |  | 504 | ​ |  | 503
Telephone | ​ |  | 1,411 | ​ |  | 1,406
Legal, audit and other professional fees | ​ |  | 1,967 | ​ |  | 3,589
Expense (income) on other real estate and repossessions | ​ |  | (238) | ​ |  | 346
Intangible asset amortization | ​ |  | 216 | ​ |  | 217
Travel meals and entertainment | ​ |  | 950 | ​ |  | 828
Other operating expenses | ​ |  | 2,904 | ​ |  | 3,488
​ | ​ |  | 69,827 | ​ |  | 70,831
​ | ​ | ​ | ​ | ​ | ​ | ​
Income Before Income Taxes | ​ |  | 45,730 | ​ |  | 37,419
Provision for Income Taxes | ​ |  | 8,784 | ​ |  | 7,024
Net Income | ​ | $ | 36,946 | ​ | $ | 30,395
​

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