v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Loans receivable $ 302,170 $ 296,857 $ 601,105 $ 590,841
Investment securities 14,420 13,666 27,403 25,769
Federal Home Loan Bank stock 253 373 1,127 752
Deposits with banks 10,610 12,022 20,728 24,951
Total interest and dividend income 327,453 322,918 650,363 642,313
Interest Expense        
Time deposits 80,207 94,364 165,053 190,430
Other deposits 42,930 44,370 83,936 86,804
Advances from Federal Home Loan Bank 1,457 742 2,467 2,646
Long-term debt 1,841 2,029 3,670 4,049
Short-term debt 121 192 172 524
Total interest expense 126,556 141,697 255,298 284,453
Net interest income before provision for credit losses 200,897 181,221 395,065 357,860
Provision for credit losses 11,240 11,200 29,433 26,700
Net interest income after provision for credit losses 189,657 170,021 365,632 331,160
Non-Interest Income        
Net gains/(losses) from equity securities 11,652 (1,390) 28,968 (5,581)
Net loss on investment securities (10,554) 0 (26,239) 0
Letters of credit commissions 2,331 2,120 4,737 4,211
Other operating income 8,085 7,800 15,591 13,183
Total non-interest income 21,405 15,391 42,064 26,595
Non-Interest Expense        
Salaries and employee benefits 46,733 43,123 92,244 85,550
Occupancy expense 5,812 5,950 11,628 11,687
Computer and equipment expense 6,594 5,160 12,221 11,214
Professional services expense 7,438 8,888 15,220 16,336
Data processing service expense 3,651 4,631 7,666 9,037
FDIC and regulatory assessments 2,992 3,177 5,439 6,576
Marketing expense 1,472 1,113 3,335 2,991
Other real estate owned expense/(income) 339 (377) 1,928 (133)
Amortization of investments in low-income housing and alternative energy partnerships 9,873 11,179 16,613 20,233
Amortization of core deposit intangibles 217 250 435 500
Other operating expense 7,195 6,040 12,267 10,799
Total non-interest expense 92,316 89,134 178,996 174,790
Income before income tax expense 118,746 96,278 228,700 182,965
Income tax expense 26,537 18,828 49,605 36,009
Net income 92,209 77,450 179,095 146,956
Other Comprehensive Income, net of tax        
Net holding gains on securities available-for-sale 5,864 2,525 16,086 16,385
Total comprehensive income $ 98,073 $ 79,975 $ 195,181 $ 163,341
Net Income Per Common Share:        
Basic (in dollars per share) $ 1.38 $ 1.11 $ 2.67 $ 2.09
Diluted (in dollars per share) 1.37 1.1 2.66 2.09
Cash dividends paid per common share (in dollars per share) $ 0.38 $ 0.34 $ 0.76 $ 0.68
Average Common Shares Outstanding:        
Basic (in shares) 67,014,700 69,989,825 67,004,055 70,183,752
Diluted (in shares) 67,304,846 70,188,902 67,322,562 70,432,916
Deposit Account [Member]        
Non-Interest Income        
Non-Interest Income $ 1,971 $ 1,925 $ 3,985 $ 3,677
Asset Management [Member]        
Non-Interest Income        
Non-Interest Income $ 7,920 $ 4,936 $ 15,022 $ 11,105