XML 10 R4.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income    
Loans, including fees $ 32,641 $ 20,786
Securities:    
Taxable 4,730 5,348
Tax exempt 1,409 1,412
Other 1,179 886
Total interest income 39,959 28,432
Interest expense    
Deposits 10,716 8,777
Advances from Federal Home Loan Bank 2,052 441
Other 880 2,740
Total interest expense 13,648 11,958
Net interest income 26,311 16,474
Provision for (reversal of) credit losses on loans 13,163 403
Provision for (reversal of) credit losses on unfunded commitments 0 (403)
Net Provision for (reversal of) credit losses expense 13,163 0
Net interest income after provision 13,148 16,474
Noninterest income    
Customer service charges 1,181 1,143
Credit and debit card fees 1,509 1,262
Insurance and investment commissions 295 198
Gains on sales of loans 444 454
Net gains on sales and write downs of other assets 10 1
Earnings on life insurance policies 389 495
Trust income 506 213
Change in market value of equity securities 107 35
Other 481 250
Total noninterest income 4,922 4,051
Noninterest expense    
Salaries and benefits 10,320 7,831
Occupancy and equipment 1,719 1,462
Data processing 1,999 1,340
Communications 380 330
Professional fees 697 615
Supplies and postage 244 178
Advertising and promotional 256 150
Intangible amortization 680 203
FDIC insurance 455 375
Merger related expenses 17,203 0
Other 1,712 1,200
Total noninterest expense 35,665 13,684
(Loss) income before income tax (benefit) expense (17,595) 6,841
Income tax (benefit) expense (3,689) 1,207
Net (loss) income $ (13,906) $ 5,634
Basic (loss) earnings per share (Note 4) $ (1.3) $ 0.75
Diluted (loss) earnings per share (Note 4) (1.29) 0.74
Dividends declared per share $ 0.28 $ 0.27