Strong Operating Results
Operating earnings of $101.3 million or $0.55 per share, indicating strong profitability and positive operating leverage. Efficiency ratio improved to 56.5%, and an operating ROA of 1.29% with an operating ROTCE of 15.79%.
Record Revenue
Achieved an all-time high in quarterly revenue with strong net interest margin and non-interest income contributing significantly.
Positive Credit Trends
Improvement in non-performing loans and charge-offs with a stable allowance ratio. ACL to non-performing loan coverage increased to 189%.
Share Repurchase
Repurchased 1,650,000 shares at a weighted average cost of $18.67 per share, contributing to an 18% growth in tangible book value per share on a linked quarter annualized basis.
Deposit Growth
Deposits grew by $194 million, primarily driven by a $387 million increase in demand and savings products, offsetting declines in brokered and time deposits.
Increased Net Interest Income Guidance
Revised net interest income guidance for 2025 upwards to a range of $1.025 billion to $1.035 billion, reflecting confidence in future financial performance.