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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 $ 70,886 $ 70,676 $ 139,676 $ 141,009
Interest and dividends on investment securities 11,571 6,401 23,058 12,496
Other interest income 410 1,711 1,184 3,696
Total interest income 82,867 78,788 163,918 157,201
Interest expense:        
Deposits 31,803 35,073 63,939 70,311
Short-term borrowings 386 958 877 2,487
Long-term borrowings 1,556 1,564 3,116 3,128
Total interest expense 33,745 37,595 67,932 75,926
Net interest income 49,122 41,193 95,986 81,275
Provision (benefit) for credit losses 2,562 2,041 5,490 (3,415)
Net interest income after provision for credit losses 46,560 39,152 90,496 84,690
Noninterest income:        
Service charges on deposits 1,089 979 2,141 2,056
Insurance income 3 4 6 2,138
Card interchange income 1,937 2,008 3,777 3,910
Investment advisory 2,885 2,779 5,622 5,361
Company owned life insurance 2,965 1,360 5,742 2,658
Investments in limited partnerships 307 803 722 1,145
Loan servicing 180 158 303 333
Income from derivative instruments, net 339 377 589 551
Net gain on sale of loans held for sale 140 124 257 212
Net gain on sale or call of securities 3 0 3 0
Net gain on sale of other assets 0 13,508 0 13,495
Net (loss) gain on tax credit investments (512) 406 (1,026) 31
Other 1,281 1,508 2,854 3,025
Total noninterest income 10,617 24,014 20,990 34,915
Noninterest expense:        
Salaries and employee benefits 18,070 15,748 34,968 33,088
Occupancy and equipment 3,982 3,448 7,572 7,200
Professional services 1,451 1,794 3,142 4,166
Computer and data processing 5,879 5,342 11,366 10,728
Supplies and postage 503 437 1,081 912
FDIC assessments 1,392 1,346 2,859 2,641
Advertising and promotions 495 440 837 737
Amortization of intangibles 105 114 212 331
Restructuring charges 0 0 68 0
Deposit-related charged-off items expense (recoveries) 233 398 (61) 19,577
Other 3,572 3,953 7,323 7,653
Total noninterest expense 35,682 33,020 69,367 87,033
Income before income taxes 21,495 30,146 42,119 32,572
Income tax expense 3,963 4,517 7,709 4,873
Net income 17,532 25,629 34,410 27,699
Preferred stock dividends 364 364 729 729
Net income available to common shareholders $ 17,168 $ 25,265 $ 33,681 $ 26,970
Earnings per common share (Note 2):        
Basic $ 0.85 $ 1.64 $ 1.68 $ 1.75
Diluted 0.85 1.62 1.66 1.73
Cash dividends declared per common share $ 0.31 $ 0.3 $ 0.62 $ 0.6