XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Interest Income        
Loans $ 55,952,000 $ 43,115,000 $ 164,063,000 $ 113,288,000
Investment securities 1,729,000 2,076,000 5,217,000 3,519,000
Mortgage-backed securities 3,757,000 1,652,000 10,614,000 3,654,000
Other interest-earning assets 2,587,000 1,443,000 3,813,000 1,672,000
Total interest income 64,025,000 48,286,000 183,707,000 122,133,000
Interest Expense        
Deposits 28,021,000 13,705,000 74,032,000 28,061,000
Securities sold under agreements to repurchase   213,000   213,000
Advances from FHLB 1,060,000 206,000 3,978,000 2,300,000
Subordinated debt 435,000 395,000 1,309,000 1,033,000
Total interest expense 29,516,000 14,519,000 79,319,000 31,607,000
Net Interest Income 34,509,000 33,767,000 104,388,000 90,526,000
Provision for Credit Losses 900,000 10,072,000 2,700,000 16,266,000
Net Interest Income After Provision for Credit Losses 33,609,000 23,695,000 101,688,000 74,260,000
Noninterest Income        
Deposit account charges and related fees 1,847,000 2,089,000 5,421,000 5,578,000
Bank card interchange income 1,301,000 1,374,000 3,974,000 3,471,000
Loan late charges 150,000 161,000 409,000 402,000
Loan servicing fees 267,000 265,000 783,000 834,000
Other loan fees 757,000 465,000 1,758,000 1,959,000
Net realized gains on sale of loans 99,000 132,000 616,000 550,000
Net realized losses on sale of AFS securities (807,000)   (1,489,000)  
Earnings on bank owned life insurance 483,000 368,000 1,413,000 1,006,000
Insurance brokerage commissions 312,000 349,000 886,000 899,000
Wealth management 866,000 463,000 2,329,000 1,241,000
Other income 309,000 618,000 977,000 1,314,000
Total noninterest income 5,584,000 6,284,000 17,077,000 17,254,000
Noninterest Expense        
Compensation and benefits 13,750,000 14,188,000 39,360,000 33,733,000
Occupancy and equipment, net 3,623,000 3,024,000 10,615,000 7,914,000
Data processing expense 2,349,000 2,505,000 7,039,000 5,380,000
Telecommunications expense 464,000 449,000 1,460,000 1,127,000
Deposit insurance premiums 677,000 231,000 1,824,000 710,000
Legal and professional fees 412,000 2,324,000 1,215,000 3,587,000
Advertising 622,000 409,000 1,479,000 1,074,000
Postage and office supplies 344,000 331,000 929,000 779,000
Intangibles amortization 1,018,000 812,000 3,053,000 1,615,000
Foreclosed property expenses 60,000 280,000 96,000 275,000
Other operating expense 1,730,000 2,439,000 5,546,000 5,356,000
Total noninterest expense 25,049,000 26,992,000 72,616,000 61,550,000
Income Before Income Taxes 14,144,000 2,987,000 46,149,000 29,964,000
Income Taxes 2,837,000 578,000 9,497,000 6,288,000
Net Income $ 11,307,000 $ 2,409,000 $ 36,652,000 $ 23,676,000
Basic earnings per share $ 1.00 $ 0.22 $ 3.23 $ 2.42
Diluted earnings per share 0.99 0.22 3.22 2.41
Dividends paid $ 0.21 $ 0.21 $ 0.63 $ 0.63