XML 22 R4.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and dividend income:      
Interest and fees on loans $ 184,567,000 $ 194,264,000 $ 171,099,000
Interest on interest-earning deposits 15,422,000 10,746,000 1,353,000
Interest on investment securities 14,331,000 14,028,000 6,084,000
Dividend income on FHLB stock 1,314,000 1,125,000 938,000
Interest on federal funds sold and other 1,027,000 985,000 1,496,000
Total interest and dividend income 216,661,000 221,148,000 180,970,000
Interest expense:      
Interest on savings deposits, NOW and money market accounts 19,295,000 12,205,000 5,561,000
Interest on time deposits 89,086,000 76,837,000 13,338,000
Interest on long-term debt and subordinated debentures 6,699,000 9,951,000 9,645,000
Interest on FHLB advances 2,217,000 2,869,000 2,872,000
Total interest expense 117,297,000 101,862,000 31,416,000
Net interest income before provision for credit losses 99,364,000 119,286,000 149,554,000
Provision for credit losses 9,857,000 3,362,000 4,935,000
Net interest income after provision for credit losses 89,507,000 115,924,000 144,619,000
Noninterest income:      
Service charges and fees 4,115,000 4,172,000 4,145,000
Loan servicing fees, net of amortization 2,265,000 2,576,000 2,209,000
Increase in cash surrender value of BOLI 1,577,000 1,409,000 1,322,000
Gain on sale of loans 1,586,000 374,000 1,895,000
Gain on sale of fixed assets 0 32,000 757,000
Gain on OREO 1,016,000 133,000 0
Noninterest Income, Other Operating Income 4,776,000 6,322,000 924,000
Total noninterest income 15,335,000 15,018,000 11,252,000
Noninterest expense:      
Salaries and employee benefits 39,395,000 37,795,000 35,488,000
Occupancy and equipment expenses 9,803,000 9,629,000 9,092,000
Data processing 5,857,000 5,326,000 5,060,000
Legal and professional 4,453,000 8,198,000 5,383,000
Office expenses 1,455,000 1,512,000 1,438,000
Marketing and business promotion 864,000 1,132,000 1,578,000
Insurance and regulatory assessments 3,298,000 3,165,000 1,850,000
Core deposit premium amortization 784,000 923,000 1,086,000
Other expenses 3,254,000 3,016,000 3,551,000
Total noninterest expense 69,163,000 70,696,000 64,526,000
Net income before income taxes 35,679,000 60,246,000 91,345,000
Income Tax Expense (Benefit) 9,014,000 17,781,000 27,018,000
Net income $ 26,665,000 $ 42,465,000 $ 64,327,000
Net income per share      
Basic (in dollars per share) $ 1.47 $ 2.24 $ 3.37
Diluted (in dollars per share) $ 1.47 $ 2.24 $ 3.33
Weighted-average common shares outstanding      
Basic (in shares) 18,121,764 18,965,346 19,099,509
Diluted (in shares) 18,183,319 18,985,233 19,332,639