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 Income        
Interest and fees on loans $ 67,477 $ 53,422 $ 134,026 $ 105,131
Taxable interest on investments 10,257 6,807 20,029 13,834
Nontaxable interest on investments 455 461 923 926
Dividend income 493 521 1,013 833
Other interest income 641 951 1,727 1,621
Total interest income 79,323 62,162 157,718 122,345
Interest Expense        
Interest on deposits 24,594 24,169 49,215 47,347
Interest on borrowings 4,620 5,285 8,638 10,483
Interest on junior subordinated debentures 900 524 1,798 1,058
Total interest expense 30,114 29,978 59,651 58,888
Net interest income 49,209 32,184 98,067 63,457
Provision (credit) for credit losses 6,920 650 16,349 (1,452)
Net interest income after provision (credit) for credit losses 42,289 31,534 81,718 64,909
Non-Interest Income        
Brokerage and insurance commissions 1,794 1,441 3,491 2,680
Mortgage banking income, net 1,060 516 1,568 1,324
Bank-owned life insurance 1,003 694 1,663 1,377
Other income 1,178 942 2,120 1,892
Total non-interest income 13,067 10,645 24,263 20,967
Non-Interest Expense        
Salaries and employee benefits 19,392 15,601 39,635 31,555
Furniture, equipment and data processing 4,294 3,497 9,025 7,126
Net occupancy costs 2,693 1,981 5,726 4,051
Debit card expense 1,725 1,311 3,415 2,575
Consulting and professional fees 1,310 1,149 2,808 2,009
Regulatory assessments 1,127 813 2,113 1,670
Merger and acquisition costs 1,405 0 8,930 0
Amortization of core deposit intangible assets 1,473 139 2,946 278
Other real estate owned and collection costs, net 91 47 181 57
Other expenses 4,086 2,772 7,268 5,351
Total non-interest expense 37,596 27,310 82,047 54,672
Income before income tax expense 17,760 14,869 23,934 31,204
Income Tax Expense 3,679 2,876 2,527 5,939
Net Income $ 14,081 $ 11,993 $ 21,407 $ 25,265
Per Share Data        
Basic earnings per share $ 0.84 $ 0.82 $ 1.27 $ 1.73
Diluted earnings per share 0.83 0.81 1.26 1.72
Cash dividends declared per share $ 0.42 $ 0.42 $ 0.84 $ 0.84
Weighted average number of common shares outstanding 16,905,159 14,591,189 16,874,974 14,581,758
Diluted weighted average number of common shares outstanding 16,972,395 14,647,047 16,941,899 14,639,734
Debit card income        
Non-Interest Income        
Revenue $ 3,646 $ 3,069 $ 6,879 $ 5,935
Service charges on deposit accounts        
Non-Interest Income        
Revenue 2,405 2,113 4,723 4,140
Income from fiduciary services        
Non-Interest Income        
Revenue $ 1,981 $ 1,870 $ 3,819 $ 3,619