Total Revenue

+8.3%: Increased from $37.95M in Q1 2024 to $41.08M in Q1 2025

Improved business performance and favorable market conditions drove higher revenue. Enhanced loan and investment income, which had been steadily growing in previous periods, contributed to the revenue boost. "

Interest and Dividend Income

+8.5%: Increased from $33.02M in Q1 2024 to $35.81M in Q1 2025

Higher yields on loans and securities and an improved asset mix led to the increase, building on the trend observed in the previous period where reinvestment into higher-yielding securities and renewed loan activities boosted income. "

Net Interest Income

+15%: Increased from $21.36M in Q1 2024 to $24.61M in Q1 2025

A combination of increased interest income from loans and securities, along with moderated interest expenses (thanks to a lower cost deposit environment compared to Q1 2024), drove net interest income higher. This improvement reflects a continuation of a positive yield impact observed in prior periods. "

Provision for Credit Losses

+50%: Increased from $300K in Q1 2024 to $450K in Q1 2025

A cautious credit risk approach amid loan growth and external uncertainties (such as tariff and trade concerns) pushed up the provision. This escalation builds on earlier trends where loan portfolio growth had already started to exert upward pressure on credit loss provisions. "

Net Income

+26%: Increased from $8,188K in Q1 2024 to $10,352K in Q1 2025

Significantly higher net interest income and operational improvements contributed to the rise in net income, which more than offset increases in expenses and credit loss provisions. The improvement builds on prior period efforts that marginally enhanced profitability through revenue growth and cost management. "

Earnings per Share (Basic)

+32%: Increased from $1.16 in Q1 2024 to $1.53 in Q1 2025

Higher net income combined with a reduction in shares outstanding resulted in a per-share earnings boost. This increase, reflecting both operational success and capital structure optimization, builds on similar prior period trends where improvements in profitability outpaced dilution effects. "