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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest Income        
Loans $ 68,958 $ 59,792 $ 198,305 $ 172,321
Securities – taxable 8,614 6,953 26,139 19,123
Securities – non-taxable 652 1,042 1,967 2,981
Other earning assets 6,164 7,203 15,692 19,691
Total interest income 84,388 74,990 242,103 214,116
Interest Expense        
Deposits 50,134 47,415 144,554 134,039
Other borrowed funds 3,902 5,810 14,111 16,251
Total interest expense 54,036 53,225 158,665 150,290
Net Interest Income 30,352 21,765 83,438 63,826
Provision for credit losses 34,393 3,858 60,110 10,360
Benefit for credit losses - debt securities held to maturity 0 (29) (32) (93)
Provision (benefit) for credit losses - off-balance sheet commitments 396 (439) 252 (398)
Net Interest (Loss) Income After Provision for Credit Losses (4,437) 18,375 23,108 53,957
Noninterest (Loss) Income        
(Loss) gain on sale of loans (27,103) 9,933 (16,783) 24,761
Other 1,364 1,127 4,857 3,683
Total noninterest (loss) income (24,647) 12,029 (8,663) 31,409
Noninterest Expense        
Salaries and employee benefits 14,384 13,456 38,358 37,714
Marketing, advertising and promotion 482 548 1,831 1,893
Consulting and professional services 979 902 3,143 2,777
Data processing 651 675 1,942 1,845
Loan expenses 1,850 1,524 4,901 4,566
Premises and equipment 3,572 2,918 9,968 8,898
Deposit insurance premium 1,584 1,219 4,546 3,536
Other 1,957 1,552 6,127 4,924
Total noninterest expense 25,459 22,794 70,816 66,153
(Loss) Income Before Income Taxes (54,543) 7,610 (56,371) 19,213
Income Tax (Benefit) Provision (12,950) 620 (15,914) 1,267
Net (Loss) Income $ (41,593) $ 6,990 $ (40,457) $ 17,946
(Loss) Income Per Share of Common Stock        
Basic (in dollars per share) $ (4.76) $ 0.80 $ (4.63) $ 2.07
Diluted (in dollars per share) $ (4.76) $ 0.80 $ (4.63) $ 2.05
Weighted-Average Number of Common Shares Outstanding        
Basic (in shares) 8,742,052 8,696,634 8,730,519 8,688,304
Diluted (in shares) 8,742,052 8,768,731 8,730,519 8,756,544
Dividends Declared Per Share (in dollars per share) $ 0.06 $ 0.06 $ 0.18 $ 0.18
Service charges and fees        
Noninterest (Loss) Income        
Noninterest income $ 369 $ 245 $ 912 $ 711
Loan servicing revenue        
Noninterest (Loss) Income        
Noninterest income 2,055 1,570 6,017 4,363
Loan servicing asset revaluation        
Noninterest (Loss) Income        
Noninterest income $ (1,332) $ (846) $ (3,666) $ (2,109)