Foresight Reports 2026 Third Quarter and Nine-Month Results

WINNEBAGO, Ill., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Foresight Financial Group, Inc. (OTCQX: FGFH) reported net income of $4.27 million for the quarter ended September 30, 2026, a 167% increase compared to $1.60 million reported for the third quarter of 2025 and a 2% decrease compared to $4.38 million reported for the second quarter of 2026. Diluted earnings per share were $1.18 for the quarter compared to $0.44 for the third quarter of 2025 and $1.20 for the second quarter of 2026. The third quarter results produced a return on average assets and return on average equity of 0.98% and 9.69%, respectively.

Net income for the first nine months of 2026 was $12.54 million, up 135% from $5.32 million for the same period in 2025. Diluted earnings per share for the first nine months were $3.43, compared with $1.47 in the prior year period. The first nine months of 2026 produced a return on average assets and return on average equity of 0.99% and 9.63%, respectively.

Earnings growth for the first nine months of 2026 compared to the prior-year period was driven by higher net interest income, lower credit costs and reduced noninterest expense, partially offset by a modest decrease in noninterest income. The comparison also reflects the absence of certain nonrecurring income and expenses recognized in the prior-year period, including $1.20 million of revenue received under a card branding agreement, $3.53 of costs associated with the charter consolidation initiative and a $1.96 million impairment charge on a nonmarketable equity investment.

“We are pleased with the Company’s continued earnings strength through the first nine months of 2026,” said Peter Morrison, Chief Executive Officer. “Our year-over-year results reflect sustained improvement in net interest income, operating efficiency and shareholder value. While net interest margin moderated during the third quarter and certain credit metrics increased from the prior quarter, overall asset quality remains substantially improved from one year ago, and the Company continues to maintain a strong financial position.”

Net interest income increased to $14.81 million for the quarter ended September 30, 2026, compared to $13.16 million for the third quarter of 2025 and $14.92 million for the second quarter of 2026. The tax-equivalent net interest margin for the third quarter of 2026 was 3.53%, compared to 3.36% in the prior-year quarter and 3.69% in the linked quarter.

For the first nine months of 2026, net interest income increased $5.70 million, or 14.8%, to $44.07 million compared to $38.37 million for the first nine months of 2025. The tax-equivalent net interest margin expanded to 3.62%, compared to 3.33% in the prior year period.

The year-over-year increase in net interest income and expansion of the net interest margin were driven primarily by growth in average deposits and average earning assets, and a lower cost of interest-bearing deposits. Average earning assets increased by $74.8 million to $1.639 billion for the first nine months of 2026 compared to $1.564 billion in the prior-year period. While average total loans increased by only $235 thousand to $1.118 billion for the first nine months of 2026 compared to the prior year period, average investment securities increased by $69.0 million with the tax-equivalent yield on investment securities increasing by fifty-one basis points to 3.04%. The average rate paid on interest-bearing deposits decreased by thirty-five basis points to 2.16%, compared to 2.51% for the first nine months of 2025.

Compared to the second quarter of 2026, the third-quarter net interest margin decreased by 16 basis points. The linked-quarter decrease reflected a 15-basis-point decline in the tax-equivalent yield on average earning assets, including a 19-basis-point decrease in the average loan yield. The average cost of total interest-bearing liabilities remained unchanged at 2.17%. Average earning assets increased by $42.1 million from the linked quarter, primarily due to higher average investment securities and interest-bearing deposits at other institutions, partially offset by a $13.29 million decrease in average loans.

The provision for credit losses totaled $450 thousand during the third quarter of 2026, compared to $372 thousand in the third quarter of 2025 and $524 thousand in the second quarter of 2026. For the nine months ended September 30, 2026, the provision for credit losses totaled $1.54 million, a decrease of $373 thousand, or 19.5%, from $1.91 million in the prior year period.

Nonperforming assets totaled $18.82 million, or 1.10% of total assets, as of September 30, 2026, compared to $28.44 million, or 1.75% of total assets, as of September 30, 2025 and $16.86 million, or 0.98% of total assets, as of June 30, 2026. The year-over-year decrease primarily reflected a reduction in nonperforming loans and the absence of the impaired other investment reported at September 30, 2025. The allowance for credit losses was $13.27 million, representing 1.20% of total loans and 70.8% of nonperforming loans at September 30, 2026.

Noninterest income totaled $2.38 million for the third quarter of 2026, an increase of $596 thousand, or 33.4%, compared to $1.78 million in the third quarter of 2025 and an increase of $51 thousand compared to the second quarter of 2026. The year-over-year increase included a $124 thousand increase in customer service fees, a $101 thousand increase in card interchange fees, a $141 thousand increase is loan servicing revenue and a $198 thousand increase in other income.  

Noninterest income decreased by $140 thousand to $6.59 million for the first nine months of 2026, compared to $6.73 million for the first nine months of 2025. The decrease is due to the absence of $1.20 million of non-recurring revenue recognized in the prior-year period related to a debit card branding agreement. This decrease was substantially offset by increases in customer service fees, card interchange revenue, gains on sales of loans and net loan servicing fees.

Noninterest expense totaled $11.07 million for the third quarter of 2026, a decrease of $1.29 million, or 10.4%, compared to $12.36 million for the third quarter of 2025 and an increase of $206 thousand, or 1.9%, compared to the second quarter of 2026. The year-over-year decrease primarily reflected the absence of expenses related to the charter consolidation initiative, which totaled $1.65 million in the prior-year quarter.

For the first nine months of 2026, noninterest expense declined by $4.04 million, or 11.1%, to $32.45 million compared to $36.49 million in the prior-year period. The decrease primarily reflected the absence of $5.49 million of nonrecurring expenses incurred in 2025, including expenses associated with the charter consolidation initiative and an impairment charge on a nonmarketable equity investment. Excluding the nonrecurring expenses incurred in the first nine months of 2025 noninterest expenses increased $1.45 million, or 4.7%.

Total assets were $1.702 billion as of September 30, 2026, an increase of $72.73 million, or 4.5%, from $1.629 billion at September 30, 2025. Total deposits increased by $107.83 million, or 7.8%, to $1.490 billion. Total loans held for investment decreased by $30.60 million, or 2.7%, to $1.106 billion, while available-for-sale debt securities increased by $122.18 million to $491.47 million. The loan-to-deposit ratio declined to 74.3% at September 30, 2026, compared to 82.3% at September 30, 2025.

The closing price for the Company’s common stock was $49.51 on September 30, 2026, a 52% increase over the closing price of $32.48 on September 30, 2025. Tangible book value per share was $46.51 as of September 30, 2026, compared to $46.24 at September 30, 2025 and $48.48 at June 30, 2026. The linked-quarter decline in reported tangible book value reflected a decrease in accumulated other comprehensive income. Excluding accumulated other comprehensive income, tangible book value per share increased to $55.89 as of September 30, 2026, compared to $52.62 at September 30, 2025 and $54.91 at June 30, 2026.

About Foresight Financial Group, Inc.

Foresight Financial Group, Inc. is the largest bank holding company headquartered in Winnebago County, Illinois and is the parent company of Foresight Bank, which has offices in the Illinois counties of Winnebago, Stephenson, and Kankakee. Foresight Bank was formed through the consolidation of six long-standing community bank subsidiaries of Foresight Financial Group, including German American State Bank, State Bank of Davis, Northwest Bank of Rockford, State Bank (Freeport), Lena State Bank, and State Bank of Herscher. Foresight’s common stock is traded on the “OTCQX” market under the trading symbol FGFH.

Forward-Looking Statements

When used in this communication, the words "believes," "expects," "likely", "would", and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company's markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of "critical accounting policies"; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

FOR INFORMATION CONTACT:
Peter Morrison	Todd James
Chief Executive Officer	Chief Financial Officer
(815) 847-7500	(815) 847-7500

Consolidated Balance Sheets
(Unaudited)	September 30,				December 31,
	2026				2025
Assets	(in thousands, except per share data)
Cash and due from banks	$	18,436			$	15,844
Interest-bearing deposits in banks		6,006				11,254
Federal funds sold		-				775
Total cash and cash equivalents		24,442				27,873
Debt Securities:
Available-for-sale (AFS)		491,466				428,688
Held-to-maturity (HTM)		2,378				2,378
Marketable equity securities and other investments		4,427				4,427
Loans held for sale		531				1,549
Loans, net of allowance for credit losses		1,093,134				1,127,617
Premises and equipment, net		17,574				17,855
Bank owned life insurance		25,499				24,979
Other assets		42,050				33,281
Total assets	$	1,701,501			$	1,668,647
Liabilities and Stockholders' Equity
Deposits
Noninterest-bearing	$	222,777			$	219,275
Interest-bearing		1,267,246				1,209,276
Total deposits		1,490,023				1,428,551
Federal funds purchased		228				-
Federal Home Loan Bank (FHLB) and other borrowings		29,152				53,429
Accrued interest payable and other liabilities		14,242				16,405
Total liabilities		1,533,645				1,498,385
Preferred stock		-
Common stock		1,065				1,063
Additional paid-in capital		16,941				16,720
Retained earnings		200,095				189,941
Treasury stock, at cost		(16,417	)			(16,013	)
Accumulated other comprehensive loss		(33,828	)			(21,449	)
Total stockholders' equity		167,856				170,262
Total liabilities and stockholders' equity	$	1,701,501			$	1,668,647

Consolidated Statements of Income
(Unaudited)	Nine Months Ended September 30,
	2026				2025
	(in thousands, except per share data)
Interest and dividend income:
Interest and fees on loans	$	52,892			$	52,550
Interest on investment securities		10,794				7,432
Interest on fed funds sold and other deposits		1,010				967
Total interest income		64,696				60,949
Interest expense:
Deposits		19,861				21,395
Federal funds purchased		1				6
FHLB and other borrowings		767				1,177
Total interest expense		20,629				22,578
Net interest income		44,067				38,371
Provision for credit losses		1,535				1,908
Net interest and dividend income, after provision for credit losses		42,532				36,463
Noninterest income:
Customer service fees		1,582				1,316
Net securities gains (losses)		(44	)			-
Gain on sale of loans, net		330				243
Loan servicing fees, net		680				641
Bank owned life insurance		520				500
Card interchange fees		1,928				1,655
Other		1,594				2,375
Total noninterest income		6,590				6,730
Noninterest expenses:
Salaries and employee benefits		20,158				19,419
Occupancy expense of premises, net		2,426				2,383
Outside services		1,121				1,703
Data processing		4,195				3,771
Other		4,548				9,209
Total noninterest expenses		32,448				36,485
Income before income taxes		16,674				6,708
Income tax expense		4,137				1,384
Net income	$	12,537			$	5,324
Earnings per common share:
Basic	$	3.45			$	1.48
Diluted	$	3.43			$	1.47

Consolidated Statements of Income
(Unaudited)	For the Quarter Ended
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
Interest and dividend income:	(in thousands, except per share data)
Interest and fees on loans	$	17,339			$	17,885			$	17,668			$	18,343			$	17,893
Interest on investment securities		4,057				3,504				3,233				2,983				2,447
Interest on fed funds sold and other deposits		511				331				168				417				150
Total interest income		21,907				21,720				21,069				21,743				20,490
Interest expense:
Deposits		6,869				6,550				6,442				7,158				6,930
Federal funds purchased		-				-				1				-				4
FHLB and other borrowings		231				248				288				282				398
Total interest expense		7,100				6,798				6,731				7,440				7,332
Net interest income		14,807				14,922				14,338				14,303				13,158
Provision for credit losses		450				524				561				772				372
Net interest income after provision for loan losses		14,357				14,398				13,777				13,531				12,786
Noninterest income:
Customer service fees		548				537				497				445				424
Net securities gains (losses)		-				-				(44	)			-				-
Gain on sale of loans, net		101				100				129				81				79
Loan servicing fees, net		247				457				(24	)			108				106
Bank owned life insurance		176				179				165				167				166
Card interchange fees		706				669				553				581				605
Other		602				387				605				389				404
Total noninterest income		2,380				2,329				1,881				1,771				1,784
Noninterest expenses:
Salaries and employee benefits		6,859				6,712				6,587				6,613				6,808
Occupancy expense of premises, net		866				809				751				795				775
Outside services		346				424				351				409				615
Data processing		1,440				1,438				1,317				1,330				1,407
Other		1,558				1,480				1,510				2,722				2,751
Total noninterest expenses		11,069				10,863				10,516				11,869				12,356
Income before income taxes		5,668				5,864				5,142				3,433				2,214
Income tax expense		1,398				1,486				1,253				889				612
Net income	$	4,270			$	4,378			$	3,889			$	2,544			$	1,602
Earnings per common share:
Basic	$	1.18			$	1.21			$	1.08			$	0.71			$	0.44
Diluted	$	1.18			$	1.20			$	1.07			$	0.70			$	0.44

Consolidated Balance Sheets
(Unaudited)	As of
	September 30,				June 30				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
Assets	(in thousands)
Cash and due from banks	$	18,436			$	18,419			$	18,696			$	15,844			$	19,601
Interest-bearing deposits in banks		6,006				46,830				118,000				11,254				26,994
Federal funds sold		-				1,288				3,900				775				1,989
Total cash and cash equivalents		24,442				66,537				140,596				27,873				48,584
Debt securities:
Debt securities available-for-sale (AFS)		491,466				459,322				426,198				428,688				369,287
Debt securities held-to-maturity (HTM)		2,378				2,378				2,378				2,378				2,741
Marketable equity securities and other investments		4,427				4,436				4,420				4,427				5,545
Loans held for sale		531				441				352				1,549				-
Loans, net of allowance for credit losses		1,093,134				1,103,191				1,113,139				1,127,617				1,123,376
Premises and equipment, net		17,574				17,604				17,622				17,855				18,054
Bank owned life insurance		25,499				25,323				25,144				24,979				24,812
Other assets		42,050				33,265				32,840				33,281				36,373
Total assets	$	1,701,501			$	1,712,497			$	1,762,689			$	1,668,647			$	1,628,772
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing	$	222,777			$	233,195			$	226,404			$	219,275			$	241,473
Interest-bearing		1,267,246				1,251,414				1,312,249				1,209,276				1,140,725
Total deposits		1,490,023				1,484,609				1,538,653				1,428,551				1,382,198
Federal funds purchased		228				-				-				-				-
Securities sold under agreements to repurchase		-				-				-				-				26,354
Federal Home Loan Bank (FHLB) and other borrowings		29,152				33,477				36,668				53,429				37,662
Accrued interest payable and other liabilities		14,242				19,064				14,302				16,405				15,666
Total liabilities		1,533,645				1,537,150				1,589,623				1,498,385				1,461,880
Stockholders' equity:
Preferred stock		-				-				-								-
Common stock		1,065				1,065				1,063				1,063				1,063
Additional paid-in capital		16,941				16,937				16,734				16,720				16,716
Retained earnings		200,095				196,620				193,037				189,941				188,119
Treasury stock, at cost		(16,417	)			(16,013	)			(16,013	)			(16,013	)			(16,013	)
Accumulated other comprehensive loss		(33,828	)			(23,262	)			(21,755	)			(21,449	)			(22,992	)
Total stockholders' equity		167,856				175,347				173,066				170,262				166,892
Total liabilities and stockholders' equity	$	1,701,501			$	1,712,497			$	1,762,689			$	1,668,647			$	1,628,772

SELECTED FINANCIAL DATA (Unaudited)
The following table outlines selected financial data as of and for the:
(in thousands, except per share amounts and ratios)
	Three Months Ended																Nine Months Ended
	Sept 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,				Sept 30,				Sept 30,
	2026			2026			2026			2025			2025				2026				2025
PER COMMON SHARE
Basic earnings	$	1.18		$	1.21		$	1.08		$	0.71		$	0.44			$	3.45			$	1.48
Diluted earnings		1.18			1.20			1.07			0.70			0.44				3.43				1.47
Dividends		0.22			0.22			0.22			0.20			0.20				0.66				0.60
Book value		46.55			48.52			47.99			47.21			46.28				46.55				46.28
Tangible book value		46.51			48.48			47.95			47.18			46.24				46.51				46.24
Tangible book value, excluding AOCI		55.89			54.91			53.98			53.12			52.62				55.89				52.62
End of period shares outstanding		3,606,110			3,614,260			3,606,428			3,606,123			3,606,123				3,606,110				3,606,123
Average number of shares outstanding		3,608,140			3,614,153			3,606,425			3,606,119			3,606,119				3,609,579				3,603,433
Market price		49.51			48.04			45.99			41.78			32.48				49.51				32.48
PERFORMANCE RATIOS
Return on average assets		0.98	%		1.04	%		0.95	%		0.60	%		0.40	%			0.99	%			0.44	%
Return on average equity		9.69	%		10.07	%		9.13	%		5.96	%		3.90	%			9.63	%			4.49	%
Net interest margin, tax equivalent		3.53	%		3.69	%		3.65	%		3.52	%		3.36	%			3.62	%			3.33	%
Efficiency ratio, tax equivalent		63.70	%		62.29	%		64.12	%		73.32	%		81.23	%			63.4	%			79.43	%
Loan to deposit ratio		74.29	%		75.21	%		73.11	%		79.91	%		82.26	%			74.29	%			82.26	%
ASSET QUALITY DATA
Nonaccrual loans		18,744			16,589			14,409			14,937			25,452				18,744				25,452
Accruing loans 90+ days past due		-			249			1,662			373			1,967				-				1,967
Total non-performing loans		18,744			16,838			16,071			15,310			27,419				18,744				27,419
Foreclosed assets		73			25			7			-			56				73				56
Impaired other investments		-			-			-			-			961				-				961
Total non-performing assets		18,817			16,863			16,078			15,310			28,436				18,817				28,436
Total loans held for investment		1,106,404			1,116,178			1,126,264			1,140,600			1,137,006				1,106,404				1,137,006
Allowance for credit losses		13,270			12,987			13,125			12,983			13,630				13,270				13,630
Loans, net of ACL		1,093,134			1,103,191			1,113,139			1,127,617			1,123,376				1,093,134				1,123,376
Nonperforming assets to total assets		1.10	%		0.98	%		0.91	%		0.92	%		1.75	%			1.10	%			1.75	%
Nonperforming loans to total loans		1.69	%		1.51	%		1.43	%		1.34	%		2.41	%			1.69	%			2.41	%
Allowance to total loans		1.20	%		1.16	%		1.17	%		1.14	%		1.20	%			1.20	%			1.20	%
Allowance to nonperforming loans		70.80	%		77.13	%		81.67	%		84.80	%		49.71	%			70.80	%			49.71	%
ALLOWANCE FOR CREDIT LOSSES ACTIVITY
Beginning of period balance		12,987			13,125			12,983			13,630			13,626				12,983				14,694
Provision for loan losses		450			524			561			772			372				1,535				1,908
Provision for unfunded commitments		58			(412	)		(120	)		(14	)		(5	)			(474	)			329
Charge-offs		(270	)		(285	)		(342	)		(1,594	)		(373	)			(897	)			(3,405	)
Recoveries		45			35			43			189			10				123				104
Ending of period balance		13,270			12,987			13,125			12,983			13,630				13,270				13,630

Analysis of Average Balances and Tax Equivalent Interest Rates
	For the Quarters Ended (Dollars in thousands-unaudited)
	September 30, 2026									June 30, 2026									September 30, 2025
	Average Balance			Interest (1)			Average Rate (1)			Average Balance			Interest (1)			Average Rate (1)			Average Balance			Interest (1)			Average Rate (1)
Interest Earning Assets:
Interest-bearing deposits and other	$	50,950		$	511		3.98	%		$	32,009		$	331		4.15	%		$	10,106		$	150		5.88	%
Investment securities		518,189			4,155		3.18	%			481,728			3,602		3.00	%			432,048			2,607		2.39	%
Loans		1,106,642			17,360		6.22	%			1,119,935			17,901		6.41	%			1,133,254			17,926		6.28	%
Total Earning Assets	$	1,675,781		$	22,026		5.21	%		$	1,633,672		$	21,835		5.36	%		$	1,575,408		$	20,683		5.21	%
Allowance for credit losses		(13,222	)								(13,328	)								(13,764	)
Cash and due from banks		20,270									20,646									24,122
Other assets		42,655									43,945									19,670
Total Assets	$	1,725,484								$	1,684,935								$	1,605,435
Interest Bearing Liabilities:
Interest bearing checking accounts	$	213,197		$	557		1.04	%		$	213,820		$	588		1.10	%		$	235,146		$	812		1.37	%
Savings and money market deposits		578,661			2,755		1.89	%			536,490			2,369		1.77	%			427,603			2,001		1.86	%
Time deposits		474,989			3,557		2.97	%			472,878			3,593		3.05	%			465,489			4,116		3.51	%
Total interest bearing deposits		1,266,847			6,869		2.15	%			1,223,188			6,550		2.15	%			1,128,238			6,930		2.44	%
Borrowings		32,741			232		2.81	%			34,649			247		2.86	%			58,728			402		2.71	%
Total Interest-Bearing Liabilities	$	1,299,588		$	7,101		2.17	%		$	1,257,837		$	6,797		2.17	%		$	1,186,966		$	7,331		2.45	%
Interest Rate Spread							3.05	%								3.19	%								2.76	%
Non-interest bearing checking accounts		236,713									239,120									240,424
Other liabilities		14,449									13,554									15,092
Total Liabilities		1,550,750									1,510,511									1,442,482
Total Stockholders' Equity		174,734									174,424									162,952
Total Liabilities and Stockholders' Equity	$	1,725,484								$	1,684,935								$	1,605,434
Net Interest Income/Margin				$	14,926		3.53	%					$	15,037		3.69	%					$	13,351		3.36	%
(1) Management discloses certain non-GAAP financial measures to evaluate and measure the Company's performance, including a presentation of net interest income with a net interest margin on a tax-equivalent(TE) basis. Net interest margin is calculated by dividing net interest income on a TE basis by average earning assets for the period. Nonaccrual loans are included in the above-stated average balances.

Analysis of Average Balances and Tax Equivalent Interest Rates
(dollars in thousands)
	For Nine Months Ended (Dollars in thousands-unaudited)
	September 30, 2026									September 30, 2025
	Average Balance			Interest (1)			Average Rate (1)			Average Balance			Interest (1)			Average Rate (1)
Interest Earning Assets:
Interest-bearing deposits and other	$	33,009		$	1,010		4.09	%		$	27,412		$	967		4.72	%
Investment Securities		488,010			11,090		3.04	%			419,004			7,911		2.52	%
Loans		1,118,061			52,943		6.33	%			1,117,826			52,648		6.30	%
Total Earning Assets	$	1,639,080		$	65,043		5.31	%		$	1,564,242		$	61,525		5.26	%
Allowance for credit losses		(13,226	)								(14,952	)
Cash and due from banks		20,652									23,701
Other assets		44,573									38,243
Total Assets	$	1,691,079								$	1,611,234
Interest Bearing Liabilities:
Interest bearing checking accounts	$	210,417		$	1,673		1.06	%		$	242,614		$	2,834		1.56	%
Savings and money market deposits		543,741			7,339		1.80	%			412,917			5,324		1.72	%
Time deposits		475,065			10,849		3.05	%			481,932			13,237		3.67	%
Total interest bearing deposits		1,229,223			19,861		2.16	%			1,137,463			21,394		2.51	%
Borrowings		35,413			768		2.90	%			58,712			1,183		2.69	%
Total Interest-Bearing Liabilities	$	1,264,636		$	20,629		2.18	%		$	1,196,175		$	22,577		2.52	%
Interest Rate Spread							3.12	%								2.74	%
Non-interest bearing checking accounts		237,882									241,820
Other liabilities		14,547									14,755
Total liabilities		1,517,065									1,452,750
Total Stockholders' Equity		174,014									158,484
Total Liabilities and Stockholders' Equity	$	1,691,079								$	1,611,234
Net Interest Income/Margin				$	44,414		3.62	%					$	38,948		3.33	%
(1) Management discloses certain non-GAAP financial measures to evaluate and measure the Company's performance, including a presentation of net interest income with a net interest margin on a tax-equivalent(TE) basis. Net interest margin is calculated by dividing net interest income on a TE basis by average earning assets for the period. Nonaccrual loans are included in the above-stated average balances.