Incremental Quality Earnings Improvement
The company showed incremental quality earnings improvement driven by strong expense control, with three quarters of essentially flat core noninterest expenses.
Operational Excellence
Successfully converted the entire core bank and Oakwood Bank to a new processor, indicating strong operational capabilities.
Growth in Correspondent Banking Unit
The correspondent banking unit is expected to generate over $17 million in revenue this year, contributing roughly $5 million towards net income.
Increased Dividend
Announced an increase in the quarterly common stock dividend by $0.01, marking the ninth consecutive year of dividend increases.
Reduced FHLB Borrowings
FHLB borrowings decreased by $125.5 million from the prior quarter, reflecting deliberate decision to reduce excess borrowings.
Positive Loan Yield and Deposit Growth
Core loan yields excluding loan discount accretion was 6.94%, and net growth in noninterest-bearing deposits since March 31, 2025, was $58.2 million, representing approximately 9% annualized growth.