v3.25.1
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
INTEREST INCOME    
Interest and fees on loans $ 75,347 $ 72,531
Interest on investments:    
Taxable 8,213 5,136
Interest on loans held for sale 9 5
Interest on interest-earning deposits 2,776 1,522
Total interest income 86,345 79,194
INTEREST EXPENSE    
Interest on savings and interest-bearing deposit accounts 34,913 33,047
Interest on certificates of deposit 4,363 4,855
Interest on borrowed funds 11 3,467
Interest on finance lease liability 14 38
Interest on subordinated debt 1,439 1,684
Subtotal - interest expense 40,740 43,091
Interest on interest-bearing demand - brokered 100 126
Interest on certificates of deposits - brokered   1,602
Total interest expense 40,840 44,819
NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES 45,505 34,375
Provision for credit losses 4,471 627
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 41,034 33,748
OTHER INCOME    
Wealth management fee income 15,435 14,407
Service charges and fees 1,112 1,322
Bank owned life insurance 371 503
Gain on loans held for sale at fair value (mortgage banking) 63 56
Gain on sale of SBA loans 302 400
Corporate advisory fee income 90 818
Other income 1,286 1,306
Fair value adjustment for CRA equity security 195 (111)
Total other income 18,854 18,701
OPERATING EXPENSES    
Compensation and employee benefits 35,879 28,476
Premises and equipment expense 6,154 5,081
FDIC insurance expense 855 945
Other operating expense 6,552 5,539
Total operating expenses 49,440 40,041
INCOME BEFORE INCOME TAX EXPENSE 10,448 12,408
Income tax expense 2,853 3,777
NET INCOME $ 7,595 $ 8,631
EARNINGS PER SHARE    
Basic $ 0.43 $ 0.49
Diluted $ 0.43 $ 0.48
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING    
Basic 17,610,917 17,711,639
Diluted 17,812,222 17,805,347