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:        
Loans, including fees $ 88,940 $ 87,222 $ 207,797 $ 206,129
Taxable investment securities 5,778 4,528 10,335 8,980
Federal Home Loan Bank stock and other 7,485 5,950 13,909 13,223
Total interest income 102,203 97,700 232,041 228,332
INTEREST EXPENSE:        
Deposits 21,850 25,773 43,228 52,769
Securities sold under agreements to repurchase and other short-term borrowings 140 132 277 262
Federal Home Loan Bank advances 4,011 3,259 9,646 9,846
Total interest expense 26,001 29,164 53,151 62,877
NET INTEREST INCOME 76,202 68,536 178,890 165,455
Provision for expected credit loss expense on loans 1,823 5,143 19,495 35,765
NET INTEREST INCOME AFTER PROVISION 74,379 63,393 159,395 129,690
NONINTEREST INCOME:        
Mortgage banking income 1,896 1,612 3,717 1,922
Program fees 4,451 4,398 8,273 8,577
Increase in cash surrender value of bank owned life insurance 821 792 1,614 1,546
Gain on sale of Visa Class B-1 shares     4,090  
Total noninterest income 17,644 18,346 50,798 41,719
NONINTEREST EXPENSE:        
Salaries and employee benefits 30,801 29,143 61,870 58,859
Technology, equipment, and communication 8,684 7,340 17,327 14,830
Occupancy 3,391 3,409 6,955 7,231
Marketing and development 1,243 2,705 2,630 4,629
FDIC insurance expense 731 748 1,550 1,520
Interchange related expense 1,488 1,412 3,124 2,710
Legal and professional fees 666 770 1,784 1,825
Core conversion and contract consulting fees 182   5,896  
Merger expense       41
Other 4,447 4,107 8,705 8,960
Total noninterest expense 51,633 49,634 109,841 100,605
INCOME BEFORE INCOME TAX EXPENSE 40,390 32,105 100,352 70,804
INCOME TAX EXPENSE 8,906 6,899 21,600 14,992
NET INCOME 31,484 25,206 78,752 55,812
Service charges on deposit accounts        
NONINTEREST INCOME:        
Revenue 3,505 3,526 6,965 6,839
Net refund transfer fees        
NONINTEREST INCOME:        
Revenue 2,567 3,811 16,460 14,631
Interchange fee income        
NONINTEREST INCOME:        
Revenue 3,200 3,351 6,277 6,508
Net losses on other real estate owned        
NONINTEREST INCOME:        
Revenue (53) (48) (106) (101)
Other        
NONINTEREST INCOME:        
Revenue $ 1,257 $ 904 $ 3,508 $ 1,797
Class A Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) $ 1.62 $ 1.31 $ 4.04 $ 2.88
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) 1.61 1.3 4.03 2.87
Class B Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) 1.47 1.18 3.68 2.62
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) $ 1.47 $ 1.18 $ 3.66 $ 2.61