v3.26.1
Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans, including fees $ 94,584,000 $ 79,706,000 $ 180,477,000 $ 152,793,000
Investment securities available-for-sale 6,482,000 5,505,000 12,589,000 11,198,000
Investment securities held-to-maturity 2,549,000 1,607,000 4,947,000 1,607,000
Federal funds sold and other 2,374,000 1,844,000 5,362,000 3,830,000
Total interest income 105,989,000 88,662,000 203,375,000 169,428,000
Interest expense:        
Deposit accounts 43,384,000 37,535,000 84,868,000 73,761,000
FHLB advances and other borrowings 2,329,000 1,753,000 4,586,000 3,496,000
Total interest expense 45,713,000 39,288,000 89,454,000 77,257,000
Net interest income 60,276,000 49,374,000 113,921,000 92,171,000
Provision for credit losses 2,069,000 2,130,000 2,649,000 2,580,000
Net interest income after provision for credit losses 58,207,000 47,244,000 111,272,000 89,591,000
Noninterest income:        
Service charges and other fees 3,174,000 2,125,000 6,349,000 4,402,000
Earnings on bank-owned life insurance 748,000 743,000 1,498,000 1,420,000
Loss on sale of investment securities available-for-sale (93,000) (110,000) (104,000) (338,000)
Gain on sale of factored receivables 3,463,000   3,463,000  
Gain on sales of SBA loans   44,000   74,000
Other 425,000 (152,000) 544,000 199,000
Total noninterest income 7,717,000 2,650,000 11,750,000 5,757,000
Noninterest expense:        
Salaries and employee benefits 24,804,000 18,179,000 49,612,000 36,520,000
Occupancy and equipment expense 3,259,000 2,783,000 6,608,000 5,617,000
Legal and professional 2,271,000 1,927,000 5,492,000 3,358,000
Data processing and network expense 1,595,000 1,162,000 3,009,000 2,282,000
Regulatory assessments 1,331,000 1,203,000 2,541,000 2,509,000
Advertising and marketing 737,000 503,000 1,376,000 912,000
Software purchases and maintenance 1,421,000 1,149,000 2,840,000 2,408,000
Loan operations and other real estate owned expense 656,000 439,000 1,193,000 708,000
Telephone and communications 158,000 115,000 302,000 290,000
Other 2,192,000 1,386,000 3,554,000 2,350,000
Total noninterest expense 38,424,000 28,846,000 76,527,000 56,954,000
Net income before income tax expense 27,500,000 21,048,000 46,495,000 38,394,000
Income tax expense 5,513,000 4,301,000 8,140,000 8,058,000
Net income 21,987,000 16,747,000 38,355,000 30,336,000
Preferred stock dividends declared 1,184,000 1,185,000 2,355,000 2,356,000
Net income available to common shareholders $ 20,803,000 $ 15,562,000 $ 36,000,000 $ 27,980,000
Earnings per common share:        
Basic earnings per share $ 1.25 $ 1.12 $ 2.29 $ 2.03
Diluted earnings per share $ 1.08 $ 0.96 $ 1.97 $ 1.74