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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME:        
Interest and fees on loans $ 39,537 $ 36,197 $ 77,962 $ 54,497
Interest on deposits in other banks 1,054 1,076 2,110 1,507
Interest and dividends on investment securities:        
Taxable 4,127 5,328 8,477 10,828
Exempt from Federal income taxes 1,307 1,396 2,614 2,792
Total interest income 46,025 43,997 91,163 69,624
INTEREST EXPENSE:        
Interest on deposits 10,538 12,266 20,926 17,285
Interest on borrowings 1,281 1,758 2,954 2,379
Interest on senior debt and subordinated debentures 902 916 1,797 1,831
Total interest expense 12,721 14,940 25,677 21,495
Net interest income before provision for credit losses 33,304 29,057 65,486 48,129
PROVISION FOR CREDIT LOSSES 2,613 9,831 2,572 10,407
Net interest income after provision for credit losses 30,691 19,226 62,914 37,722
NON-INTEREST INCOME:        
Service charges 505 480 1,007 864
Net realized losses on sales and calls of investment securities (15) (1,974) (15) (2,346)
Other income 1,874 2,894 3,983 4,519
Total non-interest income 2,364 1,400 4,975 3,037
NON-INTEREST EXPENSES:        
Salaries and employee benefits 12,260 13,451 25,219 22,090
Occupancy and equipment 2,794 2,423 5,621 3,966
Other Noninterest Expense 7,242 12,629 14,926 17,780
Total non-interest expenses 22,296 28,503 45,766 43,836
Income (loss) before provision for income taxes 10,759 (7,877) 22,123 (3,077)
Provision (benefit) for income taxes 2,927 (1,587) 5,998 (463)
Net income (loss) $ 7,832 $ (6,290) $ 16,125 $ (2,614)
Earnings (loss) per common share:        
Basic earnings (loss) per common share (in dollars per share) $ 0.41 $ (0.33) $ 0.85 $ (0.17)
Weighted average common shares used in basic computation (in shares) 18,987,217 18,814,020 18,960,670 15,282,274
Diluted earnings (loss) per common share (in dollars per share) $ 0.41 $ (0.33) $ 0.85 $ (0.17)
Weighted average common shares used in diluted computation (in shares) 19,042,750 18,937,036 19,028,425 15,369,528
Cash dividends per common share (in dollars per share) $ 0.12 $ 0.12 $ 0.24 $ 0.24