XML 42 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME      
Interest and fees on loans $ 153,628 $ 159,635 $ 116,583
Interest on deposits with banks 21,814 21,043 1,637
Interest on investment securities 7,693 5,576 3,496
Interest on tax-exempt loans and securities 2,707 3,564 4,241
Total interest income 185,842 189,818 125,957
INTEREST EXPENSE      
Interest on deposits 73,105 61,660 10,476
Interest on subordinated debt 3,229 3,219 3,072
Interest on short-term borrowings and repurchase agreements 46 890 443
Interest on senior term loan 264 766 163
Total interest expense 76,644 66,535 14,154
NET INTEREST INCOME 109,198 123,283 111,803
Provision (release of allowance) for credit losses 3,541 (1,921) 14,194
Net interest income after provision (release of allowance) for credit losses 105,657 125,204 97,609
NONINTEREST INCOME      
Payment card and service charge income 16,300 13,776 11,648
Insurance income 288 335 849
Gain (loss) on sale of available-for-sale securities, net 658 (1,536) 650
Gain (loss) on sale of equity securities, net 103 (269) (56)
Gain (loss) on derivatives, net 60 (659) 0
Gain (loss) on sale of loans, net 1,038 (744) 1,655
Holding gain (loss) on equity securities 1,184 146 (1,543)
Compliance and consulting income 4,675 4,312 4,598
Equity method investments income (loss) 1,421 (2,499) (713)
Equity method investment gain 0 0 1,874
Loss on acquisition and divestiture activity 0 (986) 0
Gain on sale of assets 11,703 0 4,978
Other operating income 5,483 7,839 3,625
Total noninterest income 42,913 19,715 27,565
NONINTEREST EXPENSES      
Salaries and employee benefits 67,955 63,371 62,534
Occupancy expense 3,887 3,701 4,051
Equipment depreciation and maintenance 4,581 5,558 5,496
Data processing and communications 5,471 4,878 4,198
Professional fees 21,348 18,344 15,661
Insurance, tax and assessment expense 4,169 4,436 2,605
Travel, entertainment, dues and subscriptions 6,644 6,825 6,836
Other operating expenses 8,171 10,512 8,765
Total noninterest expense 122,226 117,625 110,146
Income from continuing operations, before income taxes 26,344 27,294 15,028
Income taxes 6,099 5,070 3,294
Net income from continuing operations 20,245 22,224 11,734
Income from discontinued operations, before income taxes 0 11,831 3,487
Income taxes 0 3,049 834
Net income from discontinued operations 0 8,782 2,653
Net income 20,245 31,006 14,387
Net (income) loss attributable to noncontrolling interest (154) 226 660
Net income available to common shareholders $ 20,091 $ 31,232 $ 15,047
Earnings per share from continuing operations - basic (in dollars per share) $ 1.56 $ 1.77 $ 1.01
Earnings per share from discontinued operations - basic (in dollars per share) 0 0.69 0.22
Earnings per common share - basic (in dollars per share) 1.56 2.46 1.23
Earnings per share from continuing operations - diluted (in dollars per share) 1.53 1.72 0.96
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0.68 0.21
Earnings per common share - diluted (in dollars per share) $ 1.53 $ 2.40 $ 1.17
Weighted average shares outstanding - basic (in shares) 12,890,161 12,694,206 12,279,462
Weighted average shares outstanding - diluted (in shares) 13,136,758 12,997,332 12,870,734