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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 71,811 $ 87,323 $ 145,235 $ 173,579
Investment securities 8,596 10,160 17,246 20,874
Cash, Fed Funds and other 2,635 3,640 6,326 9,211
Total interest income 83,042 101,123 168,807 203,664
Interest expense:        
Deposits 34,514 43,535 72,751 86,142
Borrowings 14,658 27,887 28,965 55,670
Total interest expense 49,172 71,422 101,716 141,812
Net interest income 33,870 29,701 67,091 61,852
Provision for credit losses 6,000 0 7,000 0
Net interest income after provision for credit losses 27,870 29,701 60,091 61,852
Noninterest income:        
Net gain on loan origination and sale activities 3,235 3,036 6,451 5,342
Loan servicing income 7,550 3,410 12,408 6,442
Deposit fees 2,116 2,209 4,187 4,450
Other 2,199 4,572 4,190 6,447
Total noninterest income 15,100 13,227 27,236 22,681
Noninterest expense:        
Compensation and benefits 26,014 27,616 52,323 55,627
Information services 7,441 7,580 15,026 14,922
Occupancy 4,868 5,130 9,739 10,564
General, administrative and other 9,428 10,605 19,771 21,982
Total noninterest expense 47,751 50,931 96,859 103,095
Income (loss) before income taxes (4,781) (8,003) (9,532) (18,562)
Income tax (benefit) expense (369) (1,765) (655) (4,827)
Net income (loss) $ (4,412) $ (6,238) $ (8,877) $ (13,735)
Net income (loss) per share:        
Basic (in dollars per share) $ (0.23) $ (0.33) $ (0.47) $ (0.73)
Diluted (in dollars per share) $ (0.23) $ (0.33) $ (0.47) $ (0.73)
Weighted average shares outstanding:        
Basic (in shares) 18,920,808 18,857,566 18,920,808 18,857,218
Diluted (in shares) 18,920,808 18,857,566 18,920,808 18,857,218