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 $ 90,577 $ 62,868 $ 182,039 $ 125,865
Securities, taxable 14,878 8,821 28,537 17,935
Securities, nontaxable 207 358 429 735
Federal funds sold and other 2,162 2,140 4,843 4,336
Total interest and dividend income 107,824 74,187 215,848 148,871
Interest expense        
Deposits 30,143 20,090 60,621 39,467
Federal funds purchased and retail repurchase agreements 208 219 400 467
Federal Home Loan Bank advances 1,786 2,224 3,672 5,140
Bank stock loan 0 0 4 0
Subordinated debt 1,815 1,852 3,615 3,703
Total interest expense 33,952 24,385 68,312 48,777
Net interest income 73,872 49,802 147,536 100,094
Provision (reversal) for credit losses 1,304 19 7,259 2,741
Net interest income after provision (reversal) for credit losses 72,568 49,783 140,277 97,353
Non-interest income        
Increase in value of bank-owned life insurance 1,623 1,321 3,021 4,914
Net gain (loss) from securities transactions (1,213) 12 (1,321) 24
Other 1,254 1,815 3,493 3,866
Total non-interest income 8,058 8,589 17,545 18,919
Non-interest expense        
Salaries and employee benefits 24,594 19,735 50,849 39,689
Net occupancy and equipment 4,624 3,482 9,413 7,157
Data processing 5,190 5,055 10,578 10,141
Professional fees 1,400 1,361 3,168 2,888
Advertising and business development 1,547 1,208 3,213 2,552
Telecommunications 604 588 1,294 1,175
FDIC insurance 1,165 464 1,930 1,094
Courier and postage 518 834 1,163 1,633
Free nationwide ATM cost 595 547 1,161 1,060
Amortization of core deposit intangibles 2,240 1,016 4,168 2,061
Loan expense 546 281 1,044 410
Other real estate owned and repossessed assets, net 35 103 126 204
Loss on debt extinguishment 0 1,361 0 1,361
Merger expenses 133 355 5,858 421
Other 3,694 3,611 7,889 7,205
Total non-interest expense 46,885 40,001 101,854 79,051
Income (loss) before income tax 33,741 18,371 55,968 37,221
Provision (benefit) for income taxes 7,302 3,107 12,563 6,916
Net income (loss) and net income (loss) allocable to common stockholders $ 26,439 $ 15,264 $ 43,405 $ 30,305
Basic earnings (loss) per share $ 1.28 $ 0.87 $ 2.08 $ 1.73
Diluted earnings (loss) per share $ 1.27 $ 0.86 $ 2.06 $ 1.72
Service Charges and Fees [Member]        
Non-interest income        
Non-interest income $ 2,414 $ 2,177 $ 4,907 $ 4,241
Debit Card Income [Member]        
Non-interest income        
Non-interest income 3,391 3,052 6,508 5,556
Mortgage Banking [Member]        
Non-interest income        
Non-interest income $ 589 $ 212 $ 937 $ 318