Significant Increase in Net Income
Net income for Q3 2025 was $25.6 million or $0.89 per share, an increase of $7.1 million or 38% compared to the same quarter in the prior year.
Strong Deposit Growth
Deposits increased by $635.5 million during the quarter, with $473.2 million due to a seasonal build in public funds deposits.
Increase in Noninterest Income
Noninterest income increased by $1.8 million or 8.8% compared to Q3 2024, including a $987,000 increase in BOLI death benefits.
Improved Core Net Interest Margin (NIM)
Core NIM expanded by 9 basis points to 3.33% compared to the second quarter.