v3.25.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest and dividend income:      
Loans, including fees $ 220,045 $ 213,831 $ 228,428
Factored receivables, including fees 172,917 159,886 160,607
Securities 21,601 23,556 19,795
FHLB and other stock 1,687 998 1,030
Cash deposits 14,217 24,244 12,561
Total interest and dividend income 430,467 422,515 422,421
Interest expense:      
Deposits 64,073 56,235 34,318
Subordinated notes 2,666 4,700 5,253
Junior subordinated debentures 4,085 4,647 4,449
Other borrowings 9,055 6,477 10,322
Total interest expense 79,879 72,059 54,342
Net interest income (expense) 350,588 350,456 368,079
Credit loss expense (benefit) 3,148 18,767 12,203
Net interest income (expense) after credit loss expense 347,440 331,689 355,876
Noninterest income:      
Net gains (losses) on sale or call of securities 0 (1) 102
Net gains (losses) on sale of loans 514 178 119
Net gains (losses) on disposal of premises and equipment 14,890 28 49
Insurance commissions 3,517 5,883 5,028
Other 5,549 8,829 (552)
Total noninterest income 88,412 65,414 50,173
Noninterest expense:      
Salaries and employee benefits 233,878 219,580 210,607
Occupancy, furniture and equipment 31,874 33,014 28,885
FDIC insurance and other regulatory assessments 4,426 2,717 2,624
Professional fees 15,258 17,839 13,177
Amortization of intangible assets 11,582 11,992 11,454
Advertising and promotion 7,200 6,183 6,740
Communications and technology 49,765 50,922 45,679
Software amortization 10,806 5,846 4,453
Travel and entertainment 5,301 5,428 6,106
Other 32,771 23,114 23,509
Total noninterest expense 402,861 376,635 353,234
Net income (loss) before income tax expense 32,991 20,468 52,815
Income tax expense 7,632 4,378 11,734
Net income 25,359 16,090 41,081
Dividends on preferred stock (3,206) (3,206) (3,206)
Net income available to common stockholders $ 22,153 $ 12,884 $ 37,875
Earnings per common share      
Basic (in dollars per share) $ 0.94 $ 0.55 $ 1.63
Diluted (in dollars per share) $ 0.93 $ 0.54 $ 1.61
Service charges on deposits      
Noninterest income:      
Revenue $ 6,668 $ 7,084 $ 7,001
Card income      
Noninterest income:      
Revenue 7,622 8,036 8,181
Fee income      
Noninterest income:      
Revenue $ 49,652 $ 35,377 $ 30,245