v3.26.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST INCOME        
Interest and fees on loans $ 20,093 $ 17,659 $ 39,051 $ 34,495
Interest on deposits with other financial institutions 1,296 1,365 2,553 2,557
Taxable interest on investment securities 1,326 1,414 2,428 2,695
Other interest bearing balances 14 117 291 217
Total interest income 22,729 20,555 44,323 39,964
INTEREST EXPENSE        
Interest on deposits 9,509 7,905 18,402 15,135
Interest on subordinated debt 419 262 929 547
Total interest expense 9,928 8,167 19,331 15,682
Net interest income 12,801 12,388 24,992 24,282
PROVISION FOR CREDIT LOSSES 2,844 1,092 5,137 1,813
Net interest income after provision for credit losses 9,957 11,296 19,855 22,469
NONINTEREST INCOME        
Gain on sale of loans 5,544 2,593 9,334 5,130
Loan servicing income 1,248 750 2,246 1,453
Service charges and fees 86 54 144 111
Net interchange fees 1,823 1,535 4,014 3,538
Other income 448 452 865 615
Total noninterest income 9,149 5,384 16,603 10,847
NONINTEREST EXPENSE        
Salaries and employee benefits 6,808 6,235 13,558 12,635
Data processing 1,530 1,333 3,419 2,738
Occupancy expense 399 400 809 792
Legal and professional fees 631 571 1,002 1,271
Loan related costs 953 330 1,412 714
Audits and exams 492 397 690 894
Advertising and marketing 397 371 1,227 735
FDIC insurance 155 129 312 251
Credit card fraud loss 51 0 4,265
Other 582 630 1,180 1,273
Total noninterest expense 11,998 10,396 27,874 21,303
INCOME BEFORE PROVISION FOR INCOME TAXES 7,108 6,284 8,584 12,013
Provision for income taxes 1,625 1,486 1,764 2,710
NET INCOME BEFORE EQUITY INVESTMENT LOSS 5,483 4,798 6,820 9,303
Net loss attributable to equity investment (21) (43) (43) (78)
NET INCOME $ 5,462 $ 4,755 $ 6,777 $ 9,225
PER COMMON SHARE DATA        
Basic earnings per common share $ 0.38 $ 0.33 $ 0.47 $ 0.65
Diluted earnings per common share $ 0.38 $ 0.33 $ 0.47 $ 0.63
Weighted-average basic shares outstanding 14,470,352 14,273,433 14,442,745 14,264,794
Weighted-average diluted shares outstanding 14,543,745 14,551,123 14,510,939 14,535,891

Source

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