v3.25.2
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and fees on loans        
Taxable $ 84,418 $ 84,226 $ 166,158 $ 166,268
Tax exempt 291 632 583 1,532
Interest and dividends on securities        
Taxable 3,457 3,104 6,846 6,143
Tax exempt 3,917 3,932 7,827 7,879
Other interest income 2,302 1,842 3,426 2,948
Total interest income 94,385 93,736 184,840 184,770
Interest on deposits 39,111 44,363 75,569 85,527
Interest on short-term borrowings 398 1,077 1,520 3,531
Total interest expense 39,509 45,440 77,089 89,058
NET INTEREST INCOME 54,876 48,296 107,751 95,712
Provision for credit losses 3,000 8,480 9,800 10,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 51,876 39,816 97,951 85,712
NONINTEREST INCOME        
Wealth advisory fees 2,667 2,597 5,534 5,052
Investment brokerage fees 550 478 1,002 1,000
Service charges on deposit accounts 2,827 2,806 5,601 5,497
Loan and service fees 3,006 3,048 5,890 5,900
Merchant and interchange fee income 854 892 1,676 1,755
Bank owned life insurance income 1,040 890 1,362 1,926
Interest rate swap fee income 20 0 20 0
Mortgage banking income 124 23 73 75
Net securities gains (losses) 0 0 0 (46)
Net gain on Visa shares 0 9,011 0 9,011
Other income 398 694 1,256 2,881
Total noninterest income 11,486 20,439 22,414 33,051
NONINTEREST EXPENSE        
Salaries and employee benefits 17,096 16,158 34,998 32,991
Net occupancy expense 1,747 1,698 3,727 3,438
Equipment costs 1,437 1,343 2,819 2,755
Data processing fees and supplies 4,152 3,812 8,417 7,651
Corporate and business development 1,160 1,265 2,566 2,646
FDIC insurance and other regulatory fees 839 816 1,639 1,605
Professional fees 1,706 2,123 4,086 4,586
Other expense 2,295 6,118 4,943 8,366
Total noninterest expense 30,432 33,333 63,195 64,038
INCOME BEFORE INCOME TAX EXPENSE 32,930 26,922 57,170 54,725
Income tax expense 5,964 4,373 10,119 8,775
NET INCOME $ 26,966 $ 22,549 $ 47,051 $ 45,950
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,707,233 25,678,231 25,711,004 25,667,647
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 1.05 $ 0.88 $ 1.83 $ 1.79
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,776,205 25,742,871 25,782,817 25,746,773
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 1.04 $ 0.87 $ 1.82 $ 1.78