v3.26.1
Condensed 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 INCOME:        
Interest and fees on loans $ 81,935 $ 65,373 $ 158,380 $ 129,809
Taxable interest on investment securities 14,464 11,579 27,034 23,318
Nontaxable interest on investment securities 128 137 257 276
Interest on interest earning deposits 1,147 1,411 2,678 2,463
Total interest income 97,674 78,500 188,349 155,866
INTEREST EXPENSE:        
Deposits 21,391 20,150 42,138 39,639
Junior subordinated debentures 431 472 861 943
Borrowings 1,036 2,895 1,315 6,611
Interest Expense, Operating, Total 22,858 23,517 44,314 47,193
Net interest income 74,816 54,983 144,035 108,673
(Reversal of) provision for credit losses (921) 956 (1,951) 1,007
Net interest income after (reversal of) provision for credit losses 75,737 54,027 145,986 107,666
NONINTEREST INCOME:        
Loss on sale of investment securities, net (217) (6,854) (217) (10,741)
Interest rate swap fees 3 19 3 19
Bank owned life insurance income 1,485 1,280 2,604 2,198
Gain on sale of other assets, net 0 5 0 8
Other income 1,853 2,127 3,963 4,288
Total noninterest income 9,311 1,517 18,010 5,420
NONINTEREST EXPENSE:        
Compensation and employee benefits 35,769 25,467 69,741 51,266
Occupancy and equipment 6,014 4,840 11,344 9,766
Data processing 10,218 3,666 15,311 7,563
Marketing 437 336 820 671
Professional services 939 1,122 3,781 1,856
State/municipal business and use taxes 1,801 1,205 3,475 2,425
Federal deposit insurance premium 881 810 1,918 1,622
Foreclosed Real Estate Expense 44 0 48 0
Amortization of intangible assets 2,957 302 5,015 605
Other expense 5,264 3,337 9,422 6,694
Total noninterest expense 64,324 41,085 120,875 82,468
Income before income taxes 20,724 14,459 43,121 30,618
Income tax expense 3,178 2,244 6,628 4,492
Net income $ 17,546 $ 12,215 $ 36,493 $ 26,126
Basic earnings per share (in dollars per share) $ 0.42 $ 0.36 $ 0.91 $ 0.77
Diluted earnings per share (in dollars per share) 0.42 0.36 0.90 0.76
Dividends declared per share (in dollars per share) $ 0.24 $ 0.24 $ 0.48 $ 0.48
Average Number of Basic Common Shares Outstanding (in shares) 41,079,781 34,028,592 39,888,198 34,037,067
Average number of diluted shares outstanding (in shares) 41,541,763 34,446,710 40,364,364 34,512,260
Net Income $ 17,546 $ 12,215 $ 36,493 $ 26,126
Service charges and other fees        
NONINTEREST INCOME:        
Service charges, other fees and card revenue 3,592 2,932 6,959 5,907
Card revenue        
NONINTEREST INCOME:        
Service charges, other fees and card revenue $ 2,595 $ 2,008 $ 4,698 $ 3,741