v3.25.2
Condensed 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 Income        
Loans $ 66,685 $ 57,094 $ 129,347 $ 112,529
Securities – taxable 9,062 6,476 17,525 12,170
Securities – non-taxable 654 970 1,315 1,939
Other earning assets 4,485 6,421 9,528 12,488
Total interest income 80,886 70,961 157,715 139,126
Interest Expense        
Deposits 46,794 44,495 94,420 86,624
Other borrowed funds 6,102 5,139 10,209 10,441
Total interest expense 52,896 49,634 104,629 97,065
Net Interest Income 27,990 21,327 53,086 42,061
Provision for credit losses 13,596 3,920 25,717 6,502
Benefit for credit losses - debt securities held to maturity (12) (2) (32) (64)
Provision (benefit) for credit losses - off-balance sheet commitments 24 113 (144) 41
Net Interest Income After Provision for Credit Losses 14,382 17,296 27,545 35,582
Noninterest Income        
Gain on sale of loans 1,673 8,292 10,320 14,828
Other 2,780 1,854 3,493 2,556
Total noninterest income 5,557 11,033 15,984 19,380
Noninterest Expense        
Salaries and employee benefits 10,867 12,462 23,974 24,258
Marketing, advertising and promotion 702 609 1,349 1,345
Consulting and professional services 936 1,022 2,164 1,875
Data processing 656 606 1,291 1,170
Loan expenses 1,520 1,597 3,051 3,042
Premises and equipment 3,281 3,154 6,396 5,980
Deposit insurance premium 1,564 1,172 2,962 2,317
Other 2,274 1,714 4,170 3,372
Total noninterest expense 21,800 22,336 45,357 43,359
(Loss) Income Before Income Taxes (1,861) 5,993 (1,828) 11,603
Income Tax (Benefit) Provision (2,054) 218 (2,964) 647
Net Income $ 193 $ 5,775 $ 1,136 $ 10,956
Income Per Share of Common Stock        
Basic (in dollars per share) $ 0.02 $ 0.67 $ 0.13 $ 1.26
Diluted (in dollars per share) $ 0.02 $ 0.67 $ 0.13 $ 1.25
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 8,733,559 8,594,315 8,724,657 8,684,093
Diluted (in shares) 8,760,374 8,656,215 8,784,005 8,750,017
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.12 $ 0.12
Service charges and fees        
Noninterest Income        
Noninterest income $ 278 $ 246 $ 543 $ 466
Loan servicing revenue        
Noninterest Income        
Noninterest income 1,979 1,470 3,962 2,793
Loan servicing asset revaluation        
Noninterest Income        
Noninterest income $ (1,153) $ (829) $ (2,334) $ (1,263)