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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME        
Interest and fees on loans $ 35,293 $ 38,590 $ 70,330 $ 78,806
Interest on deposits with banks 3,592 5,065 8,326 12,406
Interest on investment securities 2,829 1,905 5,586 3,648
Interest on tax-exempt loans and securities 670 567 1,371 1,297
Total interest income 42,384 46,127 85,613 96,157
INTEREST EXPENSE        
Interest on deposits 15,783 17,630 31,465 36,561
Interest on short-term borrowings and repurchase agreements 24 5 98 6
Interest on subordinated debt 797 808 1,594 1,617
Interest on senior term loan 0 114 0 264
Total interest expense 16,604 18,557 33,157 38,448
NET INTEREST INCOME 25,780 27,570 52,456 57,709
Provision for credit losses 1,990 254 2,167 2,251
Net interest income after provision for credit losses 23,790 27,316 50,289 55,458
NONINTEREST INCOME        
Payment card and service charge income 4,653 3,817 9,638 8,630
Insurance income 80 64 148 130
Gain on sale of available-for-sale securities, net 90 0 48 658
Gain on sale of equity securities, net 118 103 118 103
Loss on sale of loans, net (80) 0 (149) 0
Holding (loss) gain on equity securities (374) 14 (640) (35)
Compliance and consulting income 6 1,274 507 2,274
Equity method investments income (loss) 2,315 484 2,960 (644)
Gain on divestiture activity 0 0 608 0
Loss on disposal of assets (15) (12) (357) (66)
Other operating income 1,152 1,398 2,072 3,926
Total noninterest income 7,945 7,142 14,953 14,976
NONINTEREST EXPENSES        
Salaries and employee benefits 15,801 15,949 32,213 32,438
Occupancy expense 1,299 949 2,595 1,813
Equipment depreciation and maintenance 900 1,218 1,879 2,434
Data processing and communications 1,332 1,313 2,687 2,772
Professional fees 3,481 5,192 7,062 10,929
Insurance, tax and assessment expense 1,078 1,085 2,035 1,977
Travel, entertainment, dues and subscriptions 2,195 1,433 3,703 2,984
Other operating expenses 2,483 1,791 5,096 3,774
Total noninterest expense 28,569 28,930 57,270 59,121
Income before income taxes 3,166 5,528 7,972 11,313
Income taxes 1,164 1,379 2,411 2,662
Net income, before noncontrolling interest 2,002 4,149 5,561 8,651
Net (income) loss attributable to noncontrolling interest 0 (60) 18 (80)
Net income attributable to parent $ 2,002 $ 4,089 $ 5,579 $ 8,571
Earnings per common shareholder - basic (in dollars per share) $ 0.16 $ 0.32 $ 0.43 $ 0.67
Earnings per common shareholder - diluted (in dollars per share) $ 0.15 $ 0.31 $ 0.42 $ 0.66
Weighted-average shares outstanding - basic (in shares) 12,912,113 12,883,426 12,930,046 12,847,191
Weighted-average shares outstanding - diluted (in shares) 13,121,436 13,045,660 13,151,616 13,058,791