Positive Loan Growth
Overall loans increased by 3.4% annualized, with commercial loan growth strong at $54.8 million or an 11% annualized rate.
Net Interest Income and Margin Expansion
Net interest income increased by $3.5 million from the year-ago period, with a net interest margin expansion to 3.49% from 3.30%.
Strong Credit Quality
Continued excellent credit metrics with non-performing loans at 17 basis points of total loans and net charge-offs at just 1 basis point of average loans.
Increase in Tangible Book Value
Tangible book value per share increased by 13.2% compared to the prior year quarter.
Innovative Technology Investments
Launch of a redesigned website that is faster, easier to navigate, and more helpful for visitors, reflecting a people-first bank approach.