- Allowance for credit losses was 1.06% of loans; capital ratios remained strong with CET1 at 10.63% and total capital ratio at 14.39%.
- Deposits grew 1.7% driven by new commercial accounts and branch contributions; noninterest-bearing demand deposits rose over 7% year-over-year, representing 31.3% of total deposits.
- Efficiency ratio held steady at 55.7% despite a 3.9% increase in noninterest expenses, including higher salaries and advertising due to branch expansion.
- Net charge-offs were $11.4 million, including an $8.6 million charge-off on a syndicated commercial real estate loan; excluding this, charge-offs were 18 basis points annualized.
- Net income for Q2 2025 was $15.1 million or $0.50 per diluted share, down from $17.7 million and $0.58 in Q1, primarily due to increased credit loss expense.
- Net interest margin increased by 5 basis points to 3.07%, helped by lower funding costs and loan volume growth.
- Pre-provision net revenues grew 3.7% quarter-over-quarter to $57.1 million, driven by higher net interest income and noninterest income.
- Return on average assets was 0.79% and return on average equity was 7.8%.
- Total loans increased by 0.4% linked-quarter or 1.6% annualized to $6.31 billion, with growth in C&I and residential mortgage loans.
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Dafinchi