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:        
Loans, including fees $ 67,312 $ 50,936 $ 134,451 $ 101,189
Other investment income 2,972 2,970 6,702 5,096
Federal funds sold 121 143 242 283
Total interest income 70,405 54,049 141,395 106,568
Interest expense:        
Deposits 22,140 17,496 44,217 35,473
FHLB advances and other borrowings 4,224 4,375 8,650 8,363
Total interest expense 26,364 21,871 52,867 43,836
Net interest income 44,041 32,178 88,528 62,732
Provision for loan losses (981) 216 (1,850) 233
Provision for unfunded commitments 189 (87) 245 31
Provision for credit losses (792) 129 (1,605) 264
Net interest income after provision for credit losses 44,833 32,049 90,133 62,468
Noninterest income:        
Gain on sale of residential mortgage loans   579   978
Mortgage servicing income, net 271 781 577 1,399
Gain on sale of SBA loans 1,536 643 2,581 1,301
SBA servicing income, net 728 642 2,633 1,555
Other income 834 963 1,506 1,735
Total noninterest income 5,755 5,733 12,112 11,189
Noninterest expense:        
Salaries and employee benefits 11,344 8,554 22,845 17,047
Occupancy and equipment 2,328 1,380 4,762 2,797
Data processing 535 329 1,217 674
Advertising 178 149 401 316
Merger-related expenses 270 333 1,946 595
Other expenses 5,302 3,368 10,224 6,483
Total noninterest expense 19,957 14,113 41,395 27,912
Income before provision for income taxes 30,631 23,669 60,850 45,745
Provision for income taxes 8,500 6,843 16,405 12,622
Net income available to common shareholders $ 22,131 $ 16,826 $ 44,445 $ 33,123
Earnings per share:        
Basic (in dollars per share) $ 0.77 $ 0.66 $ 1.55 $ 1.3
Diluted (in dollars per share) $ 0.76 $ 0.65 $ 1.53 $ 1.29
Service charges on deposit accounts        
Noninterest income:        
Revenue from contract with customer $ 958 $ 505 $ 1,806 $ 1,005
Other service charges, commissions and fees        
Noninterest income:        
Revenue from contract with customer $ 1,428 $ 1,620 $ 3,009 $ 3,216