Updated Apr 30, 2025, 4:57 PM UTC
Income Statement - Metric | Q2 2017 | Q3 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest income - Loans held for investment (USD, thousands) | 23,028.00 | 81,188 | 23,389 | 24,216.00 | 25,122.00 | 25,731.00 | 98,458 | - | ||||||||||||||||||||||||||
Interest income - Securities, includes restricted stock (USD, thousands) | 1,439.00 | 5,020 | 1,605 | 2,023.00 | 2,389.00 | 2,619.00 | 8,636 | - | ||||||||||||||||||||||||||
Interest income - Securities purchased under agreements to resell (USD, thousands) | 0.00 | 1,526 | - | - | - | - | - | - | ||||||||||||||||||||||||||
Interest income - Interest earning cash and other (USD, thousands) | 1,100.00 | 4,154 | 1,079 | 1,146.00 | 1,620.00 | 2,434.00 | 6,279 | - | ||||||||||||||||||||||||||
Total interest income (USD, thousands) | 25,567.00 | 91,888 | 26,073 | 27,385.00 | 29,131.00 | 30,784.00 | 113,373 | - | ||||||||||||||||||||||||||
Interest expense - Savings, NOW and money market deposits (USD, thousands) | 2,826.00 | 7,635 | 3,098 | 2,932.00 | 3,129.00 | 3,730.00 | 12,889 | - | ||||||||||||||||||||||||||
Interest expense - Time deposits (USD, thousands) | 70.00 | 476 | 111 | 130.00 | 143.00 | 167.00 | 551 | - | ||||||||||||||||||||||||||
Interest expense - Borrowings (USD, thousands) | 1.00 | 4 | 1 | 1.00 | 1.00 | 1.00 | 4 | - | ||||||||||||||||||||||||||
Total interest expense (USD, thousands) | 2,897.00 | 8,115 | 3,210 | 3,063.00 | 3,273.00 | 3,898.00 | 13,444 | - | ||||||||||||||||||||||||||
Net interest income (USD, thousands) | 22,670.00 | 83,773 | 22,863 | 24,322.00 | 25,858.00 | 26,886.00 | 99,929 | - | ||||||||||||||||||||||||||
Provision for credit losses (USD, thousands) | 1,500.00 | 4,525 | 1,000 | 1,000.00 | 1,000.00 | 1,700.00 | 4,700 | - | ||||||||||||||||||||||||||
Net interest income after provision for credit losses (USD, thousands) | 21,170.00 | 79,248 | 21,863 | 23,322.00 | 24,858.00 | 25,186.00 | 95,229 | - | ||||||||||||||||||||||||||
Noninterest income - Payment processing fees (USD, thousands) | 5,418.00 | 22,316 | 5,296 | 5,322.00 | 5,169.00 | 5,088.00 | 20,875 | - | ||||||||||||||||||||||||||
Noninterest income - Administrative service income (USD, thousands) | 580.00 | 2,467 | 746 | 620.00 | 658.00 | 714.00 | 2,738 | - | ||||||||||||||||||||||||||
Noninterest income - Net gain on equity investments (USD, thousands) | 0.00 | 4,013 | - | - | - | - | - | - | ||||||||||||||||||||||||||
Noninterest income - Customer related fees, service charges and other (USD, thousands) | 268.00 | 955 | 347 | 333.00 | 235.00 | 367.00 | 1,282 | - | ||||||||||||||||||||||||||
Noninterest income - Gain on loans held for sale (USD, thousands) | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Total noninterest income (USD, thousands) | 6,266.00 | 29,751 | 6,389 | 6,275.00 | 6,062.00 | 6,169.00 | 24,895 | - | ||||||||||||||||||||||||||
Noninterest expense - Employee compensation and benefits (USD, thousands) | 8,761.00 | 32,481 | 9,161 | 9,525.00 | 9,525.00 | 9,634.00 | 37,845 | - | ||||||||||||||||||||||||||
Noninterest expense - Occupancy and equipment (USD, thousands) | 863.00 | 3,363 | 927 | 1,156.00 | 977.00 | 1,033.00 | 4,093 | - | ||||||||||||||||||||||||||
Noninterest expense - Professional and consulting services (USD, thousands) | 964.00 | 5,447 | 951 | 857.00 | 955.00 | 1,061.00 | 3,824 | - | ||||||||||||||||||||||||||
Noninterest expense - FDIC and regulatory assessments (USD, thousands) | 206.00 | 793 | 222 | 233.00 | 236.00 | 252.00 | 943 | - | ||||||||||||||||||||||||||
Noninterest expense - Advertising and marketing (USD, thousands) | 607.00 | 1,823 | 872 | 881.00 | 949.00 | 812.00 | 3,514 | - | ||||||||||||||||||||||||||
Noninterest expense - Travel and business relations (USD, thousands) | 337.00 | 985 | 278 | 180.00 | 264.00 | 244.00 | 966 | - | ||||||||||||||||||||||||||
Noninterest expense - Data processing (USD, thousands) | 1,408.00 | 5,165 | 1,511 | 1,722.00 | 1,690.00 | 1,737.00 | 6,660 | - | ||||||||||||||||||||||||||
Noninterest expense - Other operating expenses (USD, thousands) | 755.00 | 3,060 | 646 | 678.00 | 762.00 | 912.00 | 2,998 | - | ||||||||||||||||||||||||||
Total noninterest expense (USD, thousands) | 13,901.00 | 53,117 | 14,568 | 15,232.00 | 15,358.00 | 15,685.00 | 60,843 | - | ||||||||||||||||||||||||||
Net income before income taxes (USD, thousands) | 13,535.00 | 55,882 | 13,684 | 14,365.00 | 15,562.00 | 15,670.00 | 59,281 | - | ||||||||||||||||||||||||||
Income tax expense (USD, thousands) | 3,653.00 | 14,871 | 3,626 | 3,878.00 | 4,202.00 | 3,917.00 | 15,623 | - | ||||||||||||||||||||||||||
Net income (USD, thousands) | 9,882.00 | 41,011 | 10,058 | 10,487.00 | 11,360.00 | 11,753.00 | 43,658 | - | ||||||||||||||||||||||||||
Earnings per share - Basic (USD) | 1.27 | 5.31 | 1.29 | 1.35 | 1.45 | 1.49 | 5.58 | - | ||||||||||||||||||||||||||
Earnings per share - Diluted (USD) | 1.17 | 4.91 | 1.20 | 1.25 | 1.33 | 1.36 | 5.14 | - | ||||||||||||||||||||||||||
Balance Sheet - Metric | Q2 2017 | Q3 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Cash and cash equivalents (USD, thousands) | 165,209 | 165,209 | 158,243 | 152,733 | 147,663 | 126,329 | 126,329 | 173,041 | ||||||||||||||||||||||||||
Securities available-for-sale, at fair value (USD, thousands) | 122,107 | 122,107 | 142,159 | 176,814 | 211,460 | 241,746 | 241,746 | 236,919 | ||||||||||||||||||||||||||
Securities held-to-maturity, at cost (USD, thousands) | 77,001 | 77,001 | 75,242 | 73,062 | 70,794 | 68,660 | 68,660 | 66,736 | ||||||||||||||||||||||||||
Securities, restricted, at cost (USD, thousands) | 2,928 | 2,928 | 2,928 | 3,034 | 3,034 | 3,034 | 3,034 | 3,034 | ||||||||||||||||||||||||||
Loans, net of allowance (USD, thousands) | 1,190,782 | 1,190,782 | 1,210,719 | 1,242,541 | 1,277,992 | 1,376,042 | 1,376,042 | 1,396,397 | ||||||||||||||||||||||||||
Premises and equipment, net (USD, thousands) | 2,602 | 2,602 | 2,661 | 2,809 | 2,610 | 2,436 | 2,436 | 3,328 | ||||||||||||||||||||||||||
Other assets (USD, thousands) | 35,492 | 35,492 | 53,022 | 55,551 | 59,209 | 51,003 | 51,003 | 74,982 | ||||||||||||||||||||||||||
Total assets (USD, thousands) | 1,616,876 | 1,616,876 | 1,654,281 | 1,715,714 | 1,782,474 | 1,892,503 | 1,892,503 | 1,954,437 | ||||||||||||||||||||||||||
Total deposits (USD, thousands) | 1,407,299 | 1,407,299 | 1,434,049 | 1,486,893 | 1,536,395 | 1,642,236 | 1,642,236 | 1,688,120 | ||||||||||||||||||||||||||
Total liabilities (USD, thousands) | 1,418,321 | 1,418,321 | 1,447,203 | 1,498,303 | 1,549,906 | 1,655,409 | 1,655,409 | 1,703,713 | ||||||||||||||||||||||||||
Total stockholders’ equity (USD, thousands) | 198,555 | 198,555 | 207,078 | 217,411 | 232,568 | 237,094 | 237,094 | 250,724 | ||||||||||||||||||||||||||
Total liabilities and stockholders’ equity (USD, thousands) | 1,616,876 | 1,616,876 | 1,654,281 | 1,715,714 | 1,782,474 | 1,892,503 | 1,892,503 | 1,954,437 | ||||||||||||||||||||||||||
Cash Flow - Metric | Q2 2017 | Q3 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Net income [USD, thousands] | 9,882.00 | 41,011 | 10,058 | 10,487.00 | 11,360.00 | 11,753.00 | 43,658 | - | ||||||||||||||||||||||||||
Provision for credit losses [USD, thousands] | 1,500.00 | 4,525 | 1,000 | 1,000.00 | 1,000.00 | 1,700.00 | 4,700 | - | ||||||||||||||||||||||||||
Depreciation and amortization of premises and equipment [USD, thousands] | 178.00 | 707 | 176 | 194.00 | 252.00 | 258.00 | 880 | - | ||||||||||||||||||||||||||
Stock compensation expense [USD, thousands] | 839.00 | 3,218 | 967 | 962.00 | 933.00 | 973.00 | 3,835 | - | ||||||||||||||||||||||||||
Net gain on equity investments [USD, thousands] | 0.00 | (4,013) | - | - | - | - | - | - | ||||||||||||||||||||||||||
Gain on loans held for sale [USD, thousands] | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Deferred tax benefit [USD, thousands] | - | (2,551) | - | - | - | - | (1,106) | - | ||||||||||||||||||||||||||
Net amortization (accretion): Securities [USD, thousands] | 98.00 | 429 | 88 | 76.00 | 108.00 | 158.00 | 430 | - | ||||||||||||||||||||||||||
Net amortization (accretion): Loans [USD, thousands] | (237.00) | (1,291) | (148) | (99.00) | (190.00) | (47.00) | (484) | - | ||||||||||||||||||||||||||
Net cash provided by operating activities [USD, thousands] | 16,523.00 | 42,401 | 12,777 | 7,218.00 | 10,532.00 | 11,685.00 | 42,212 | - | ||||||||||||||||||||||||||
Net change in loans [USD, thousands] | (94,218.00) | (259,227) | (20,789) | (32,723.00) | (36,261.00) | (99,703.00) | (189,476) | - | ||||||||||||||||||||||||||
Net change in securities purchased under agreements to resell [USD, thousands] | 0.00 | 49,567 | - | - | - | - | - | - | ||||||||||||||||||||||||||
Purchases of securities available-for-sale [USD, thousands] | (4,941.00) | (22,820) | (24,973) | (40,210.00) | (37,518.00) | (55,161.00) | (157,862) | - | ||||||||||||||||||||||||||
Purchases of securities held-to-maturity [USD, thousands] | 0.00 | (5,978) | - | - | - | - | - | - | ||||||||||||||||||||||||||
Principal repayments on securities available-for-sale [USD, thousands] | 2,879.00 | 12,249 | 3,292 | 5,680.00 | 8,203.00 | 19,272.00 | 36,447 | - | ||||||||||||||||||||||||||
Principal repayments on securities held-to-maturity [USD, thousands] | 1,753.00 | 7,253 | 1,736 | 2,155.00 | 2,239.00 | 2,107.00 | 8,237 | - | ||||||||||||||||||||||||||
Purchases of securities, restricted [USD, thousands] | 0.00 | (118) | - | - | 0.00 | 0.00 | (106) | - | ||||||||||||||||||||||||||
Payoff of loans held for sale [USD, thousands] | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Proceeds from equity investment [USD, thousands] | 701.00 | 6,674 | - | - | 0.00 | 0.00 | 1,467 | - | ||||||||||||||||||||||||||
Purchase of equity investment [USD, thousands] | - | - | (3,524) | 0.00 | 0.00 | (300.00) | (3,824) | - | ||||||||||||||||||||||||||
Purchases of premises and equipment [USD, thousands] | (277.00) | (605) | (235) | (342.00) | (53.00) | (84.00) | (714) | - | ||||||||||||||||||||||||||
Development of capitalized software [USD, thousands] | (515.00) | (2,399) | (691) | (322.00) | (728.00) | (694.00) | (2,435) | - | ||||||||||||||||||||||||||
Net cash used in investing activities [USD, thousands] | (94,618.00) | (215,404) | (45,184) | (64,401.00) | (64,118.00) | (134,563.00) | (308,266) | - | ||||||||||||||||||||||||||
Net increase in deposits [USD, thousands] | 124,706.00 | 179,063 | 26,750 | 52,844.00 | 49,502.00 | 105,841.00 | 234,937 | - | ||||||||||||||||||||||||||
Decrease in borrowings [USD, thousands] | (1.00) | (2) | - | - | 0.00 | (1.00) | (2) | - | ||||||||||||||||||||||||||
Exercise of stock options, net of repurchases [USD, thousands] | 7.00 | 110 | 173 | 0.00 | 188.00 | 144.00 | 505 | - | ||||||||||||||||||||||||||
Tax withholding payments for vested equity awards [USD, thousands] | (923.00) | (1,076) | (299) | 0.00 | 0.00 | (3,121.00) | (3,420) | - | ||||||||||||||||||||||||||
Cash dividends paid to common stockholders [USD, thousands] | (1,131.00) | (3,719) | (1,183) | (1,170.00) | (1,174.00) | (1,319.00) | (4,846) | - | ||||||||||||||||||||||||||
Purchase of common stock [USD, thousands] | 0.00 | (286) | - | - | - | - | - | - | ||||||||||||||||||||||||||
Net cash provided by financing activities [USD, thousands] | 122,658.00 | 174,090 | 25,441 | 51,673.00 | 48,516.00 | 101,544.00 | 227,174 | - | ||||||||||||||||||||||||||
(Decrease) increase in cash and cash equivalents [USD, thousands] | 44,563.00 | 1,087 | (6,966) | (5,510.00) | (5,070.00) | (21,334.00) | (38,880) | - | ||||||||||||||||||||||||||
Interest paid [USD, thousands] | 2,953.00 | 8,134 | 3,205 | 3,073.00 | 3,276.00 | 3,876.00 | 13,430 | - | ||||||||||||||||||||||||||
Taxes paid [USD, thousands] | 3,722.00 | 17,587 | 646 | 8,286.00 | 4,420.00 | 4,650.00 | 18,002 | - | ||||||||||||||||||||||||||
Exchange of noncash instruments [USD, thousands] | 0.00 | 1,750 | (300) | 0.00 | 0.00 | 0.00 | (300) | - | ||||||||||||||||||||||||||
Cumulative change in accounting principle [USD, thousands] | 0.00 | (568) | - | - | - | - | - | - | ||||||||||||||||||||||||||
Right of use asset [USD, thousands] | 567 | 567 | 138 | 279 | 422 | 572 | 572 | - | ||||||||||||||||||||||||||
Software [USD, thousands] | 1,263 | 1,263 | 431 | 1,044 | 1,422 | 1,835 | 1,835 | - | ||||||||||||||||||||||||||
Accrued interest receivable [USD, thousands] | (3,362) | (3,362) | (177) | (40) | (582) | (994) | (994) | - | ||||||||||||||||||||||||||
Other assets [USD, thousands] | 794 | 794 | (1,829) | (6,305) | (11,244) | (11,091) | (11,091) | - | ||||||||||||||||||||||||||
Operating lease liability [USD, thousands] | (627) | (627) | (173) | (352) | (535) | (721) | (721) | - | ||||||||||||||||||||||||||
Accrued expenses and other liabilities [USD, thousands] | 1,731 | 1,731 | 2,246 | 608 | 2,820 | 698 | 698 | - | ||||||||||||||||||||||||||
Cash and cash equivalents at beginning of the period [USD, thousands] | 164,122 | 164,122 | 165,209 | 165,209 | 165,209 | 165,209 | 165,209 | - | ||||||||||||||||||||||||||
Cash and cash equivalents at end of the period [USD, thousands] | 165,209 | 165,209 | 158,243 | 152,733 | 147,663 | 126,329 | 126,329 | - | ||||||||||||||||||||||||||
Dividends declared but not paid [USD, thousands] | 175 | 175 | 59 | 133 | 205 | 141 | 141 | - | ||||||||||||||||||||||||||
Right of use asset obtained in exchange for lease liability [USD, thousands] | - | - | - | - | - | 2,035 | 2,035 | - | ||||||||||||||||||||||||||
Revenue by Segment - in Millions of USD | Q2 2017 | Q3 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Interest Income | 25.57 | 91.89 | - | 27.385 | 29.13 | - | 113.373 | - | ||||||||||||||||||||||||||
- Loans | 23.03 | 81.19 | - | 24.216 | 25.12 | - | 98.458 | - | ||||||||||||||||||||||||||
- Securities | 1.44 | 5.02 | - | 2.023 | 2.39 | - | 8.636 | - | ||||||||||||||||||||||||||
- Cash and Other | 2.63 | 5.68 | - | 1.146 | 1.62 | - | 6.279 | - | ||||||||||||||||||||||||||
- Securities Purchased Under Agreements to Resell | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Noninterest Income | 6.26 | 29.75 | - | 6.275 | 6.06 | - | 24.895 | - | ||||||||||||||||||||||||||
- Payment Processing | 5.43 | 22.32 | - | 5.322 | 5.17 | - | 20.875 | - | ||||||||||||||||||||||||||
- Admin Services | 0.58 | 2.47 | - | 0.620 | 0.66 | - | 2.738 | - | ||||||||||||||||||||||||||
- Customer Fees | 6.14 | 7.44 | - | 0.333 | 0.24 | - | 1.282 | - | ||||||||||||||||||||||||||
- Gain on Equity Investment | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Total Revenue | 31.82 | 121.64 | - | 33.660 | 35.19 | - | 138.268 | - | ||||||||||||||||||||||||||
KPIs - Metric (Unit, Scale) | Q2 2017 | Q3 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Payment processing volume (billions of USD) | - | 33.0 | 8.6 | 17.9 | 27.1 | - | 36.3 | - | ||||||||||||||||||||||||||
Number of payment processing transactions (millions of transactions) | - | 603.7 | 150.5 | 155.6 | 152.0 | - | 603.7 | - | ||||||||||||||||||||||||||
Number of small business merchants for Payment Processing Solutions (count) | - | - | 85,000 | 83,000 | 84,000 | - | 88,000 | - |