Significant Increase in Core Earnings
Core pretax pre-provision income increased to $54.4 million in Q3 2025 from $49.4 million in Q2 2025 and $29.8 million a year ago.
Deposit Growth
Core deposits increased by $1 billion year-over-year, with deposit portfolios growing to approximately $2.6 billion.
Business Loan Growth
Business loans grew over $160 million in Q3 compared to $110 million in Q2, with year-over-year growth exceeding $400 million.
Net Interest Margin Expansion
Net interest margin (NIM) increased for the sixth consecutive quarter, surpassing the 3% mark.
Recruitment and Expansion
Several talented bankers were hired, and a new branch was opened in Manhattan, with plans for additional locations in New Jersey and Long Island in early 2026.
Positive Credit Outlook
Criticized loans decreased by approximately $30 million, and loans 30 to 89 days past due were down by 33%.
Record Core EPS Growth
Core EPS for the third quarter was $0.61 per share, representing a 110% increase year-over-year.