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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income        
Loans $ 138,190 $ 139,460 $ 273,353 $ 276,020
Securities and other 13,279 14,649 26,446 30,095
Total interest and dividend income 151,469 154,109 299,799 306,115
Interest expense        
Deposits 52,623 57,036 105,511 113,898
Borrowings and subordinated notes 6,925 8,541 12,596 15,545
Total interest expense 59,548 65,577 118,107 129,443
Net interest income 91,921 88,532 181,692 176,672
Non-interest income        
Other, net 3,468 3,343 6,225 5,217
Fair value adjustments on securities 46 (42) (6) (157)
(Loss) on sale of AFS securities, net 0 0 0 (49,909)
Total non-interest income (loss) 21,752 20,133 42,424 (12,466)
Total net revenue 113,673 108,665 224,116 164,206
Provision expense for credit losses 4,000 6,499 9,500 12,499
Non-interest expense        
Compensation and benefits 39,303 40,126 79,938 80,861
Occupancy and equipment 7,203 8,064 14,869 16,762
Technology 9,756 10,236 19,821 20,140
Professional services 961 2,757 2,675 5,433
Regulatory expenses 1,648 1,848 3,275 3,693
Amortization of intangible assets 1,128 1,140 2,256 2,345
Marketing 1,541 532 2,808 1,648
Merger, restructuring and other non-operating expenses 1,491 (384) 3,945 3,233
Other 5,113 6,612 8,923 12,836
Total non-interest expense 68,144 70,931 138,510 146,951
Income before income taxes 41,529 31,235 76,106 4,756
Income tax expense 11,163 7,210 20,021 919
Net income $ 30,366 $ 24,025 $ 56,085 $ 3,837
Basic earnings per common share (in dollars per share) $ 0.66 $ 0.57 $ 1.23 $ 0.09
Diluted earnings per common share (in dollars per share) $ 0.66 $ 0.57 $ 1.22 $ 0.09
Weighted average shares outstanding:        
Basic (in shares) 45,764 42,437 45,731 42,602
Diluted (in shares) 46,007 42,508 46,042 42,763
Total fee income        
Non-interest income        
Total fee income $ 18,238 $ 16,832 $ 36,205 $ 32,383
Deposit related fees        
Non-interest income        
Total fee income 8,193 8,561 16,142 16,866
Loan related fees        
Non-interest income        
Total fee income 5,100 2,364 8,887 5,027
Gain on SBA loan sales        
Non-interest income        
Total fee income 2,288 3,294 5,564 4,993
Wealth management fees        
Non-interest income        
Total fee income $ 2,657 $ 2,613 $ 5,612 $ 5,497