Significant Increase in Net Income
Net income for the third quarter of 2025 totaled $31 million, up 28% year-over-year from $24 million in the year-ago quarter and recovering from a net loss of $28 million in the second quarter.
Improved Asset Quality
Asset quality showed improvement with a 57% reduction in net charge-offs and a 17% reduction in C&I criticized loans.
Net Interest Margin Expansion
Net interest margin expanded by 20 basis points quarter-over-quarter to 2.89%, marking the best linked quarter expansion since 2012.
Loan Growth Across Major Segments
Loan growth across all major segments including C&I, commercial real estate, and residential mortgage, with gross loans up 1.2% quarter-over-quarter.
Increased Capital Ratios
All capital ratios increased quarter-over-quarter, maintaining a healthy cushion for growth and stability.