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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 income:        
Loans, including fees: Taxable $ 78,514 $ 92,095 $ 156,182 $ 184,941
Loans, including fees: Tax exempt 573 384 929 774
Loans held for sale 377 84 4,940 139
Investment securities:        
Taxable 16,618 12,483 31,593 22,662
Tax exempt 432 254 860 672
Nonmarketable equity securities 694 963 1,341 1,650
Federal funds sold and cash investments 716 875 1,434 1,826
Total interest income 97,924 107,138 197,279 212,664
Interest expense:        
Deposits 32,290 39,476 66,905 78,690
Short-term borrowings 573 308 1,273 1,144
Federal Home Loan Bank advances and other borrowings 3,766 5,836 6,929 8,872
Subordinated debt 1,394 1,265 2,781 2,545
Trust preferred debentures 1,206 1,358 2,406 2,747
Total interest expense 39,229 48,243 80,294 93,998
Net interest income 58,695 58,895 116,985 118,666
Provision for credit losses:        
Provision for credit losses on loans 17,369 8,482 28,219 28,424
Recapture of other credit losses 0 (200) 0 (200)
Total provision for credit losses 17,369 8,282 28,219 28,224
Net interest income after provision for credit losses 41,326 50,613 88,766 90,442
Noninterest income:        
Wealth management revenue 7,379 6,801 14,729 13,933
Service charges on deposit accounts 3,351 3,121 6,656 6,237
Interchange revenue 3,463 3,563 6,614 6,921
Residential mortgage banking revenue 756 557 1,432 1,084
Income on company-owned life insurance 2,068 1,925 4,402 3,726
Loss on sales of investment securities, net 0 (152) 0 (152)
Credit enhancement income 3,848 14,328 3,270 30,982
Other income 2,669 1,841 4,194 7,094
Total noninterest income 23,534 31,984 41,297 69,825
Noninterest expense:        
Salaries and employee benefits 25,685 22,872 52,101 46,974
Occupancy and equipment 4,166 3,964 8,664 8,106
Data processing 7,035 7,205 13,954 13,927
FDIC insurance 1,422 1,219 2,885 2,493
Professional services 2,792 2,243 5,533 4,498
Marketing 1,283 741 2,076 1,478
Communications 334 336 663 678
Loan expense 1,990 1,250 3,325 2,481
Loan servicing fees 1,386 3,305 2,136 7,046
Impairment on goodwill 0 0 153,977 0
Amortization of intangible assets 827 1,016 1,738 2,105
Other expense 3,072 6,633 5,945 9,606
Total noninterest expense 49,992 50,784 252,997 99,392
Income (loss) before income taxes 14,868 31,813 (122,934) 60,875
Income tax expense 2,844 6,094 6,016 12,493
Net income (loss) 12,024 25,719 (128,950) 48,382
Preferred dividends 2,228 2,228 4,456 4,456
Net income (loss) available to common shareholders $ 9,796 $ 23,491 $ (133,406) $ 43,926
Per common share data:        
Basic earnings (loss) per common share(in dollars per share) $ 0.44 $ 1.06 $ (6.13) $ 1.99
Diluted earnings (loss) per common share (in dollars per share) $ 0.44 $ 1.06 $ (6.13) $ 1.99
Weighted average common shares outstanding (in shares) 21,820,190 21,731,195 21,808,475 21,753,056
Weighted average diluted common shares outstanding (in shares) 21,820,190 21,734,849 21,808,475 21,761,492