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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
INTEREST INCOME        
Interest and fees on loans $ 36,009 $ 38,851 $ 106,339 $ 117,657
Interest on deposits with banks 4,396 5,218 12,722 17,624
Interest on investment securities 3,144 1,846 8,730 5,494
Interest on tax-exempt loans and securities 671 712 2,042 2,009
Total interest income 44,220 46,627 129,833 142,784
INTEREST EXPENSE        
Interest on deposits 16,836 19,214 48,301 55,775
Interest on short-term borrowings and repurchase agreements 14 19 112 25
Interest on subordinated debt 797 809 2,391 2,426
Interest on senior term loan 0 0 0 264
Total interest expense 17,647 20,042 50,804 58,490
NET INTEREST INCOME 26,573 26,585 79,029 84,294
Provision for credit losses 4,427 959 6,594 3,210
Net interest income after provision for credit losses 22,146 25,626 72,435 81,084
NONINTEREST INCOME        
Payment card and service charge income 3,753 3,852 13,391 12,482
Insurance income 87 78 235 208
Gain (loss) on sale of available-for-sale securities, net (7,495) 0 (7,447) 658
Gain on sale of equity securities, net 0 0 118 103
Gain (loss) on sale of loans, net 0 26 (149) 26
Holding gain on equity securities 857 498 217 463
Compliance and consulting income 56 1,291 563 3,565
Equity method investments income 2,395 746 5,355 102
Gain on sale of subsidiary 34,086 0 34,694 0
Loss on disposal of assets (47) 0 (404) (68)
Other operating income 920 166 2,992 4,094
Total noninterest income 34,612 6,657 49,565 21,633
NONINTEREST EXPENSES        
Salaries and employee benefits 21,399 16,722 53,612 49,160
Occupancy expense 1,260 1,041 3,855 2,854
Equipment depreciation and maintenance 803 1,130 2,682 3,564
Data processing and communications 1,458 1,356 4,145 4,128
Software costs 1,213 881 3,545 2,403
Professional fees 2,954 4,649 10,016 15,578
Insurance, tax and assessment expense 920 1,041 2,955 3,018
Travel, entertainment, dues and subscriptions 751 901 2,122 2,363
Other operating expenses 2,573 1,764 7,669 5,538
Total noninterest expense 33,331 29,485 90,601 88,606
Income before income taxes 23,427 2,798 31,399 14,111
Income taxes 6,291 642 8,702 3,304
Net income, before noncontrolling interest 17,136 2,156 22,697 10,807
Net (income) loss attributable to noncontrolling interest 0 (76) 18 (156)
Net income available to common shareholders, basic $ 17,136 $ 2,080 $ 22,715 $ 10,651
Earnings per common shareholder - basic (in dollars per share) $ 1.36 $ 0.16 $ 1.77 $ 0.83
Earnings per common shareholder - diluted (in dollars per share) $ 1.32 $ 0.16 $ 1.73 $ 0.81
Weighted-average shares outstanding - basic (in shares) 12,615,475 12,927,962 12,824,037 12,874,311
Weighted-average shares outstanding - diluted (in shares) 13,010,527 13,169,011 13,099,196 13,121,245