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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest and fees on loans:        
Taxable $ 57,621 $ 59,411 $ 170,292 $ 127,859
Tax-exempt 2,151 2,299 6,698 5,116
Interest and dividends on investment securities:        
Taxable 4,335 4,739 13,073 8,561
Tax-exempt 537 411 1,332 1,153
Dividends 47 55 128 59
Interest on interest-bearing deposits in other banks 101 150 310 385
Interest on federal funds sold 372 1,218 1,092 2,524
Total interest income 65,164 68,283 192,925 145,657
Interest expense:        
Interest on deposits 20,194 26,398 61,344 63,216
Interest on short-term borrowings 341 550 976 1,444
Interest on long-term debt 1,509 1,389 3,897 1,929
Interest on subordinated debt 1,748 443 3,217 1,330
Interest on junior subordinated debt 189 260 563 260
Total interest expense 23,981 29,040 69,997 68,179
Net interest income 41,183 39,243 122,928 77,478
(Credit to) provision for credit losses (838) 14,458 (877) 15,762
Net interest income after (credit to) provision for credit losses 42,021 24,785 123,805 61,716
Noninterest income:        
Mortgage banking income 148 84 387 263
Increase in cash surrender value of life insurance 543 551 1,604 1,116
Interest rate swap income 182 (53) 389 25
Net (losses) gains on equity investments (21) 175 43 155
Net gains on sale of investment securities available for sale   1   1
Net (losses) gains on sale of fixed assets (615) (3) 65 1
Total noninterest income 5,501 5,719 18,004 12,665
Noninterest expense:        
Salaries and employee benefits expense 14,128 13,170 41,370 30,459
Net occupancy and equipment expense 7,221 6,433 20,115 15,745
Acquisition related expenses 16 9,653 236 11,210
Amortization of intangible assets 1,515 1,665 4,882 1,665
Professional fees and outside services 935 1,017 3,114 2,482
FDIC insurance and assessments 607 809 2,605 1,907
Advertising and corporate business development 1,106 741 3,040 1,862
Other expenses 3,150 2,010 8,931 6,398
Total noninterest expense 28,678 35,498 84,293 71,728
Income (loss) before income taxes 18,844 (4,994) 57,516 2,653
Income tax expense (benefit) 3,598 (657) 10,305 242
Net income (loss) 15,246 (4,337) 47,211 2,411
Other comprehensive income:        
Unrealized gain on investment securities available for sale 7,415 15,167 14,846 12,744
Reclassification adjustment for net gain on sales included in net income   (1)   (1)
Change in derivative fair value 18 (1,424) (114) (185)
Other comprehensive income 7,433 13,742 14,732 12,558
Income tax expense related to other comprehensive income 1,621 3,008 3,213 2,748
Other comprehensive income, net of income tax expense 5,812 10,734 11,519 9,810
Comprehensive income $ 21,058 $ 6,397 $ 58,730 $ 12,221
Per share data:        
Basic $ 1.53 $ (0.43) $ 4.72 $ 0.3
Diluted 1.51 (0.43) 4.69 0.3
Dividends declared $ 0.62 $ 0.62 $ 1.86 $ 1.44
Weighted average common shares outstanding:        
Basic 9,994,629 9,987,627 9,994,175 8,039,734
Diluted 10,086,915 10,044,449 10,070,947 8,094,036
Service charges, fees, commissions and other        
Noninterest income:        
Revenue from contracts with customers $ 3,386 $ 3,384 $ 10,454 $ 7,304
Merchant services income        
Noninterest income:        
Revenue from contracts with customers 321 223 1,136 598
Commission and fees on fiduciary activities        
Noninterest income:        
Revenue from contracts with customers 607 649 1,707 1,717
Wealth management income        
Noninterest income:        
Revenue from contracts with customers $ 950 $ 708 $ 2,219 $ 1,486