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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans receivable $ 99,646 $ 95,252 $ 194,756 $ 188,201
Debt securities available for sale and equity securities 10,301 9,241 20,043 17,026
Debt securities held to maturity 2,922 2,502 5,733 4,871
Federal funds and interest-earning deposits 2,443 4,459 5,301 8,022
Federal Home Loan Bank stock dividends 1,179 1,832 2,821 3,793
Total interest income 116,491 113,286 228,654 221,913
Interest expense:        
Deposits 49,344 49,826 99,489 98,244
Borrowings 13,444 19,380 25,137 37,389
Total interest expense 62,788 69,206 124,626 135,633
Net interest income 53,703 44,080 104,028 86,280
Provision for credit losses 2,468 2,194 5,401 7,472
Net interest income after provision for credit losses 51,235 41,886 98,627 78,808
Non-interest income:        
Bank-owned life insurance 1,990 1,804 3,849 3,584
Loan fees and service charges 1,744 1,378 2,800 2,339
Gain (loss) on securities transactions 336 0 336 (1,256)
Change in fair value of equity securities 272 101 580 452
(Loss) gain on sale of loans (15) 181 500 366
Gain on sale of other real estate owned 281 0 281 0
Other non-interest income 2,689 3,382 4,888 6,897
Total non-interest income 10,173 9,180 18,644 16,632
Non-interest expense:        
Compensation and employee benefits 28,933 27,659 57,516 55,172
Occupancy 5,968 6,054 12,153 12,027
Federal deposit insurance premiums 1,739 1,879 3,619 4,234
Advertising 563 661 1,094 1,287
Professional fees 3,519 4,509 6,034 9,143
Data processing and software expenses 4,103 3,914 8,164 7,881
Merger-related expenses 0 692 0 714
Other non-interest expense, net 81 879 171 1,447
Total non-interest expense 44,906 46,247 88,751 91,905
Income before income tax expense 16,502 4,819 28,520 3,535
Income tax expense 4,197 279 7,315 150
Net Income $ 12,305 $ 4,540 $ 21,205 $ 3,385
Earnings (loss) per share - basic (in dollars per share) $ 0.12 $ 0.04 $ 0.21 $ 0.03
Earnings (loss) per share - diluted (in dollars per share) $ 0.12 $ 0.04 $ 0.21 $ 0.03
Weighted average shares outstanding - basic (in shares) 101,985,784 101,651,511 101,898,636 101,699,126
Weighted average shares outstanding - diluted (in shares) 101,985,784 101,651,511 101,898,636 101,804,386
Demand deposit account fees        
Non-interest income:        
Revenue from contract with customer $ 2,015 $ 1,590 $ 3,903 $ 3,003
Title insurance fees        
Non-interest income:        
Revenue from contract with customer $ 861 $ 744 $ 1,507 $ 1,247