v3.26.1
Consolidated Statements of Income - 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 $ 106,574 $ 74,719 $ 206,614 $ 146,159
Interest on securities 2,758 2,307 5,466 4,596
Interest and dividends on cash equivalents and other 2,460 2,822 5,397 5,942
Total interest and dividend income 111,792 79,848 217,477 156,697
INTEREST EXPENSE        
Interest on deposits 40,686 31,690 80,265 63,929
Interest on borrowings 1,961 1,151 3,200 2,236
Total interest expense 42,647 32,841 83,465 66,165
NET INTEREST INCOME 69,145 47,007 134,012 90,532
PROVISION FOR CREDIT LOSSES        
Provision for credit losses - loans 2,994 4,244 9,376 5,191
Provision for (release of) credit losses - unfunded commitments 199 (1,083) 145 (872)
Total provision for credit losses 3,193 3,161 9,521 4,319
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 65,952 43,846 124,491 86,213
NONINTEREST INCOME        
Customer service fees 3,681 2,554 6,812 5,112
Increase in cash surrender value of BOLI 962 787 1,815 1,818
Mortgage banking income 92 120 211 269
Swap contract income 72 524 273 612
Gain on sale of loans, net 227 21 226 48
Other income 525 272 735 301
Total noninterest income 5,559 4,278 10,072 8,160
NONINTEREST EXPENSE        
Salaries and employee benefits 25,549 18,567 51,017 37,717
Director and professional service fees 3,816 2,943 7,865 5,090
Occupancy and equipment expenses 2,468 1,465 4,958 3,045
Data processing expenses 4,899 2,493 9,338 5,258
Marketing and charitable contribution expenses 1,530 954 2,563 1,800
FDIC and state insurance assessments 1,584 883 2,736 1,696
General and administrative expenses 4,171 2,100 8,240 3,479
Total noninterest expense 44,017 29,405 86,717 58,085
INCOME BEFORE TAXES 27,494 18,719 47,846 36,288
INCOME TAX EXPENSE 6,371 4,140 11,739 9,054
NET INCOME $ 21,123 $ 14,579 $ 36,107 $ 27,234
Weighted average common shares outstanding, basic (in shares) 39,693,140 37,191,460 39,881,259 37,668,741
Weighted average common shares outstanding, diluted (in shares) 40,000,305 37,550,409 40,260,469 37,848,215
Earnings per share, basic (in dollars per share) $ 0.53 $ 0.39 $ 0.91 $ 0.72
Earnings per share, diluted (in dollars per share) $ 0.53 $ 0.39 $ 0.9 $ 0.72