Share Repurchase Authorization
The company announced a share repurchase authorization and has repurchased about 1.8 million shares through October 28, representing about 1.7% of common shares outstanding.
Credit Quality Improvement
Nonperforming assets decreased by $11.9 million or 6% to $185.6 million, and net charge-offs decreased by $3.5 million or 60% to $2.3 million.
Strategic Branch Optimization
The company closed on the divestiture of branches in Arizona and Kansas and announced the sale of 11 branches in Nebraska, focusing on improving market density and optimizing the branch network.
Improved Net Interest Margin
The fully taxable equivalent net interest margin increased to 3.36% from 3.32% during the previous quarter and compared to 3.04% during the third quarter of 2024.
Increased Regulatory Capital Ratios
Common equity Tier 1 capital ratio increased to 13.9%, up by 47 basis points from the prior quarter.