v3.25.3
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        
Loans, including fees $ 60,838 $ 50,047 $ 180,339 $ 144,313
Investment securities available-for-sale 1,805 1,343 5,248 3,902
Federal funds sold and other 2,248 1,220 6,650 3,379
Total interest income 64,891 52,610 192,237 151,594
Interest expense        
Deposits 12,732 13,902 45,966 39,785
Borrowed funds 139 354 558 1,390
Total interest expense 12,871 14,256 46,524 41,175
Net interest income 52,020 38,354 145,713 110,419
Provision for credit losses 4,650 3,748 10,977 9,892
Provision for credit losses on unfunded commitments 217 17 217 263
Net interest income after provision for credit losses 47,153 34,589 134,519 100,264
Noninterest income        
Loan servicing rights (government guaranteed) 368 0 250 0
Other income (440) 463 1,788 1,264
Total noninterest income 11,068 6,635 36,723 19,497
Noninterest expenses        
Salaries and employee benefits 17,728 13,345 54,255 39,524
Occupancy and equipment 2,849 1,791 8,754 5,268
Professional fees 2,131 1,980 6,665 5,696
Data processing 7,654 6,930 22,286 20,479
Advertising 1,714 1,223 4,864 5,327
Loan processing 1,114 615 2,836 1,462
Foreclosed real estate expenses, net 0 1 1 2
Merger-related expenses 697 520 3,361 1,315
Operational losses 923 1,008 2,759 2,721
Regulatory assessment expenses 740 483 2,513 1,384
Other operating 2,804 1,829 7,685 5,527
Total noninterest expenses 38,354 29,725 115,979 88,705
Net income (loss) before taxes 19,867 11,499 55,263 31,056
Income tax expense 4,802 2,827 13,130 7,617
Net income $ 15,065 $ 8,672 $ 42,133 $ 23,439
Basic earnings per share (in dollars per share) $ 0.91 $ 0.62 $ 2.54 $ 1.69
Diluted earnings per share (in dollars per share) $ 0.89 $ 0.62 $ 2.50 $ 1.69
Weighted average common shares outstanding:        
Basic (in shares) 16,585,538 13,913,639 16,611,360 13,909,090
Diluted (in shares) 16,844,035 13,950,900 16,850,292 13,909,090
Service charges on deposits        
Noninterest income        
Noninterest income $ 425 $ 235 $ 945 $ 642
Credit card fees        
Noninterest income        
Noninterest income 4,509 4,055 12,529 12,266
Mortgage banking revenue        
Noninterest income        
Noninterest income 1,927 1,882 5,512 5,325
Government lending revenue        
Noninterest income        
Noninterest income 14 0 4,222 0
Government loan servicing revenue        
Noninterest income        
Noninterest income $ 4,265 $ 0 $ 11,477 $ 0