v3.25.2
Consolidated Statements of Operations (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 $ 46,533 $ 21,971 $ 79,174 $ 42,757
Securities:        
Taxable 5,264 5,471 9,994 10,819
Tax exempt 1,393 1,410 2,802 2,822
Other 735 1,092 1,914 1,978
Total interest income 53,925 29,944 93,884 58,376
Interest expense        
Deposits 14,840 8,325 25,556 17,102
Advances from Federal Home Loan Bank 1,659 463 3,711 904
Other 1,104 2,785 1,984 5,525
Total interest expense 17,603 11,573 31,251 23,531
Net interest income 36,322 18,371 62,633 34,845
Provision for (reversal of) credit losses on loans 650 272 13,813 675
Provision for (reversal of) credit losses on unfunded commitments 0 (272) 0 (675)
Net Provision for (reversal of) credit losses expense 650 0 13,813 0
Net interest income after provision 35,672 18,371 48,820 34,845
Noninterest income        
Customer service charges 1,401 1,146 2,582 2,289
Credit and debit card fees 2,083 1,516 3,592 2,778
Insurance and investment commissions 540 190 835 388
Gains on sales of loans 355 525 799 979
Net gains on sales and write downs of other assets 3 11 13 12
Earnings on life insurance policies 844 305 1,233 800
Trust income 596 220 1,102 433
Change in market value of equity securities 239 (71) 346 (36)
Other 442 241 923 491
Total noninterest income 6,503 4,083 11,425 8,134
Noninterest expense        
Salaries and benefits 13,731 8,264 24,051 16,095
Occupancy and equipment 2,432 1,477 4,151 2,939
Data processing 2,439 1,468 4,438 2,808
Communications 561 312 941 642
Professional fees 947 593 1,644 1,208
Supplies and postage 305 168 549 346
Advertising and promotional 260 199 516 349
Intangible amortization 1,732 203 2,412 406
FDIC insurance 550 390 1,005 765
Merger related expenses 166 0 17,369 0
Other 2,383 1,204 4,095 2,404
Total noninterest expense 25,506 14,278 61,171 27,962
(Loss) income before income tax (benefit) expense 16,669 8,176 (926) 15,017
Income tax (benefit) expense 3,135 1,590 (554) 2,797
Net (loss) income $ 13,534 $ 6,586 $ (372) $ 12,220
Basic (loss) earnings per share (Note 4) $ 0.9 $ 0.87 $ (0.03) $ 1.62
Diluted (loss) earnings per share (Note 4) 0.9 0.87 (0.03) 1.61
Dividends declared per share $ 0.28 $ 0.27 $ 0.56 $ 0.54