v3.26.1
Consolidated Statements of Income – (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest and dividend income        
Interest and fees on loans $ 48,423 $ 44,128 $ 95,210 $ 87,603
Interest and dividends on securities 1,919 1,478 3,703 2,923
Interest on cash and cash equivalents 1,894 3,043 3,859 6,600
Total interest and dividend income 52,236 48,649 102,772 97,126
Interest expense        
Interest expense on deposits 21,267 23,083 43,197 47,855
Interest expense on borrowings 1,466 1,630 3,186 3,269
Total interest expense 22,733 24,713 46,383 51,124
Net interest income 29,503 23,936 56,389 46,002
Provision (credit) for credit losses 1,228 (411) 199 52
Net interest income after provision (credit) for credit losses 28,275 24,347 56,190 45,950
Noninterest income        
Bank-owned life insurance 366 352 724 696
Service charges and fees 665 674 1,445 1,276
Gains and fees from sales of loans 2,398 1,080 4,823 1,522
Other (149) (94) (369) 23
Total noninterest income 3,280 2,012 6,623 3,517
Noninterest expense        
Salaries and employee benefits 8,678 7,521 18,508 14,573
Occupancy and equipment 2,816 2,505 5,521 5,080
Professional services 1,364 1,632 2,757 3,161
Data processing 694 712 1,410 1,597
Director fees 357 333 720 681
FDIC insurance 530 684 1,073 1,463
Marketing 129 218 255 360
Other 687 941 1,900 1,772
Total noninterest expense 15,255 14,546 32,144 28,687
Income before income tax expense 16,300 11,813 30,669 20,780
Income tax expense 3,928 2,725 7,022 4,804
Net income $ 12,372 $ 9,088 $ 23,647 $ 15,976
Earnings Per Common Share:        
Basic (in dollars per share) $ 1.55 $ 1.15 $ 2.99 $ 2.03
Diluted (in dollars per share) $ 1.52 $ 1.14 $ 2.95 $ 2.01
Weighted Average Common Shares Outstanding:        
Basic (in shares) 7,856,210 7,777,469 7,790,596 7,724,143
Diluted (in shares) 7,980,973 7,819,828 7,877,158 7,795,820
Dividends per common share (in dollars per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40