Financial Performance - Net income available to common shareholders for Q2 2025 was $2.5 million, or $0.26 per diluted share, a decrease from $4.2 million, or $0.43 per diluted share in Q1 2025, but an increase from $1.1 million, or $0.11 per diluted share in Q2 2024 [2][6]. - Total income before non-interest expense was $22.4 million for Q2 2025, a decrease of 9.3% from $24.7 million in Q1 2025, but an increase of 9.8% from $20.4 million in Q2 2024 [8]. - Net interest income increased to $17.9 million in Q2 2025, up 2.3% from $17.5 million in Q1 2025 and up 13.3% from $15.8 million in Q2 2024 [12][6]. Loan and Deposit Growth - Total loans increased by $115 million, or 4.7%, from $2.43 billion in Q1 2025 to $2.54 billion in Q2 2025 [6][20]. - Total deposits were $2.53 billion as of June 30, 2025, an increase of 0.4% from $2.52 billion in Q1 2025 and an increase from $2.41 billion in Q2 2024 [21]. Net Interest Margin and Efficiency - Net interest margin increased by 6 basis points to 2.67% in Q2 2025 from 2.61% in Q1 2025, and increased by 32 basis points from 2.35% in Q2 2024 [10][11]. - The efficiency ratio improved to 78.83% in Q2 2025 from 79.16% in Q1 2025 and 82.25% in Q2 2024 [17]. Credit Quality - Non-performing assets totaled $18.8 million, or 0.62% of total assets, as of June 30, 2025, compared to $17.1 million, or 0.59% of total assets in Q1 2025, and a decrease from $49.3 million, or 1.68% of total assets in Q2 2024 [26]. - Non-performing loans increased to $14.4 million as of June 30, 2025, from $12.8 million in Q1 2025, but decreased from $37.9 million in Q2 2024 [27]. Capital Position - As of June 30, 2025, the Company exceeded minimum capital levels required by regulators, with a Tier 1 capital to risk-weighted assets ratio of 9.96% [29]. - Book value per common share increased by 0.8% from $26.44 in Q1 2025 to $26.64 in Q2 2025, and increased by 4.3% from $25.55 in Q2 2024 [30].

Financial Data and Key Metrics Changes - The company reported net earnings of $72 million or $0.55 per share for the quarter, with an annualized return on average assets of 1.19% and an adjusted return on average tangible equity of 16.79% [4][10] - The pretax pre-provision return on average assets was 1.64%, showing improvement from the previous quarter and the same quarter last year [5][10] - Revenue increased to a record $214 million for the quarter, driven by record net interest income of $187 million and noninterest income of $27 million [10][14] - The tangible book value per share grew by $0.45 to $14.6, and the tangible common equity ratio improved to 8.03% [5][14] Business Line Data and Key Metrics Changes - The commercial lending team closed approximately $764 million in new loans, bringing total production to a record $1.4 billion for the first half of the year, with an annualized growth rate of 8% in the commercial loan portfolio [6][10] - The production mix consisted of 20% commercial real estate and 80% commercial and industrial loans [6] - Provident Protection Plus saw an 11.3% increase in revenue for the second quarter, while Beacon Trust revenue declined by 5.2% due to a decrease in average market value of assets under management [8][9] Market Data and Key Metrics Changes - Deposits increased by $260 million on an annualized growth rate of 5.6%, with the average cost of total deposits decreasing to 2.1% [6][12] - The loan pipeline remains robust at approximately $2.6 billion, with a weighted average interest rate stable at 6.3% [7][12] - Nonperforming assets declined to 44 basis points of total assets, with net charge-offs decreasing to $1.2 million or three basis points of average loans [12][13] Company Strategy and Development Direction - The company aims to enhance its asset management business by focusing on growing assets under management (AUM) and integrating better with other business lines [18][19] - The management is open to mergers and acquisitions but is currently focused on organic growth, evaluating strategic options as they arise [26][45] - The company is diversifying its commercial loan portfolio to reduce reliance on commercial real estate [30][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum throughout the remainder of 2025, supported by strong capital formation and credit quality [5][9] - The economic forecast has improved, leading to a reserve release, and management expects modest provisioning in the second half of the year [20][22] - The company does not foresee any immediate slowdown in loan demand, indicating a positive outlook for continued growth [50] Other Important Information - The effective tax rate for the quarter was 29.7%, with expectations to approximate 29.5% for the remainder of 2025 [14] - Noninterest expenses were $114.6 million, with an efficiency ratio improving to 53.5% for the quarter [14] Q&A Session Summary Question: Changes in Beacon business strategy - Management clarified that there is no significant change in strategy but a focus on enhancing sales and service to grow AUM [18][19] Question: Provisioning and economic forecast - The reserve release was primarily driven by improved economic forecasts, particularly the commercial property price index [20] Question: M&A considerations - Management remains open to M&A opportunities but is currently focused on organic growth [26] Question: Drivers of C&I loan growth - The growth in commercial and industrial loans is attributed to a diverse set of products and increased line utilization [29][30] Question: Wealth management fees and AUM - Wealth management fees were impacted by lower average AUM due to market volatility, but there has been a recovery in asset valuations [35] Question: Expense guidance for the second half of the year - Management indicated potential for lower expenses in the back half of the year, influenced by incentive accruals and nonrecurring costs [38] Question: Municipal deposit flow seasonality - Management expects seasonal inflows in municipal deposits and indicated that brokered deposits were used to manage funding needs [39][41] Question: NIM trajectory and competition - The company anticipates NIM improvements despite competitive pressures, with a focus on asset repricing and new loan production [52][56]

Financial Data and Key Metrics Changes - In Q2 2025, interest income increased while interest expense decreased, resulting in a net interest margin on a tax-effective basis rising above 2% [6][22] - Diluted earnings per share for the quarter were reported at $0.02, attributed mainly to credit issues and changes in noninterest income [6][7] - Net interest income for Q2 was $28 million, up 11.5% from the previous quarter, with net interest margin improving to 1.96% [22][24] Business Line Data and Key Metrics Changes - The franchise finance portfolio saw $12.6 million of loans moved to nonperforming status, with specific reserves of approximately $4.5 million [9] - In the SBA lending business, the company has originated $1.8 billion in small business loans since 2020, with improvements noted in the portfolio as loans on nonaccrual decreased [13][15] - Noninterest income for the quarter was $5.6 million, which included a $1.6 million gain on the sale of SBA loans, down from the previous quarter [18] Market Data and Key Metrics Changes - The overall credit quality remains sound, with nonperforming loans to total loans at 1%, consistent with industry norms [8] - Delinquencies across loan portfolios improved to 62 basis points, a 15 basis point improvement over the last 90 days [8] - The company expects to see noninterest income increase to around $13.3 million in both Q3 and Q4, driven by an increase in loan sales [25] Company Strategy and Development Direction - The company is focused on improving net interest margin and income through higher loan yields and lower deposit costs, with expectations of continued growth in the loan portfolio [24][27] - The management is optimistic about the outlook for 2026, anticipating growth in income-generating loan verticals and small business lending [27] - The company has adjusted its underwriting criteria in response to economic conditions, particularly in the SBA lending space [14][70] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the economic uncertainty but expressed confidence in the strategies in place to drive net interest margin growth [24][98] - The company is taking a conservative approach to provisions for loan losses, expecting them to remain elevated compared to historical levels [26][56] - Management noted that the pace of new delinquencies has slowed, indicating promising signs for future improvement [11][56] Other Important Information - The company has a strong pipeline for SBA loans, with expectations to exceed previous lending goals [70] - The management highlighted the importance of maintaining capital ratios while considering share repurchase options [62][81] - The company has seen significant growth in fintech partnerships, contributing to deposit growth and overall revenue [78][80] Q&A Session Summary Question: Provision guidance for the back half of this year and next year - Management expressed hope that the provision levels would not be needed but maintained a cautious approach to avoid underestimating future credit stress [32][34] Question: Insights on SBA lending and industry changes - Management clarified that recent changes to industry standards have not negatively impacted demand for SBA loans, and they continue to see strong pipelines [36][38] Question: Breakdown of charge-offs and future expectations - Management indicated that charge-offs have been higher in the SBA portfolio, but they expect the charge-off trajectory to improve moving forward [50][56] Question: Willingness to lend and current lending goals - Management confirmed that they are on track to meet and potentially exceed their lending goals in the SBA space, focusing on high-quality loans [70][72] Question: Expense outlook and variability - Management noted that compensation, particularly related to SBA and construction commissions, is the most variable line item affecting expenses [86][88]

Core Viewpoint - First Mid Bancshares, Inc. reported strong financial results for the second quarter of 2025, achieving record high quarterly net income and growth in net interest income, loans, and deposits, while maintaining a disciplined credit culture and investing in technology for future growth [3][10]. Financial Performance - Net interest income for Q2 2025 was $63.9 million, up $4.5 million or 7.5% from Q1 2025, driven by higher yields on earning assets [4][10]. - Compared to Q2 2024, net interest income increased by $7.1 million or 12.5%, with interest income rising by $4.7 million [5]. - The net interest margin was 3.72% for Q2 2025, an increase of 12 basis points from the previous quarter [6][10]. Loan Portfolio - Total loans reached $5.77 billion, an increase of $68.1 million or 1.2% from the prior quarter, with significant growth in construction, land development, and commercial loans [7][10]. - Year-over-year, loan balances increased by $206.4 million or 3.7%, with notable increases in construction and agricultural operating lines [8]. Asset Quality - The allowance for credit losses (ACL) was $71.2 million, with an ACL to total loans ratio of 1.23% and a non-performing loans ratio of 0.38% [9][10]. - Non-performing loans decreased by $4.7 million to $21.9 million, while special mention loans and substandard loans increased [11]. Deposits - Total deposits were $6.19 billion, up $59.8 million or 0.98% from the previous quarter, primarily driven by interest-bearing demand deposits and money market accounts [12][10]. Noninterest Income and Expenses - Noninterest income for Q2 2025 was $23.6 million, a decline from Q1 2025 due to seasonality in wealth management and insurance [13][10]. - Noninterest expenses totaled $54.8 million, slightly up from the previous quarter, primarily due to increased salaries and employee benefits [15][16]. Capital Levels and Dividend - The company's capital levels remained strong, with total capital to risk-weighted assets at 15.76% and a tangible book value per share increase of 4.3% during the quarter [17][10]. - The Board of Directors declared a quarterly dividend increase to $0.25 per share, payable on August 29, 2025 [18][10].

Core Points - Independent Bank Corporation reported a net income of $16.9 million, or $0.81 per diluted share, for the second quarter of 2025, a decrease from $18.5 million, or $0.88 per diluted share, in the same period last year [1][2][30] - The company experienced a 9.0% annualized increase in loans, while core deposits decreased by 1.4% due to seasonality [2][4] - Net interest income rose to $44.6 million, marking a 7.9% increase year-over-year and a 2.1% increase from the previous quarter [3][30] - The net interest margin improved to 3.58%, up from 3.40% in the prior year [3][32] - Non-interest income decreased to $11.3 million from $15.2 million in the prior year, primarily due to a lack of gains on equity securities [6][30] - The provision for credit losses was $1.5 million, compared to $0.02 million in the same quarter last year [13][30] - Total assets increased to $5.42 billion, with loans at $4.16 billion and deposits at $4.66 billion [14][15][30] - The company maintained strong credit metrics, with non-performing assets at 0.16% of total assets and a low net charge-off rate of 0.02% [11][13] - Shareholders' equity rose to $469.3 million, representing 8.66% of total assets, with tangible common equity at $21.23 per share [16][30] - The company authorized a share repurchase plan for up to 1,100,000 shares, with 252,276 shares repurchased for $7.36 million during the first half of 2025 [18][30] Financial Performance - Net interest income for the second quarter of 2025 was $44.6 million, an increase of $3.3 million from the previous year [3][30] - Non-interest expenses totaled $33.8 million, slightly up from $33.3 million in the prior year [9][30] - The company recorded a net income of $16.9 million for the quarter, reflecting a decrease from the previous year's $18.5 million [1][30] - The efficiency ratio improved to 59.67% from 62.20% in the previous quarter [32] Asset Quality - Total non-performing loans amounted to $8.2 million, with a ratio of non-performing loans to total portfolio loans at 0.20% [11][30] - The allowance for credit losses was 1.47% of total loans, indicating strong coverage for potential losses [13][30] Capital and Liquidity - The company reported total shareholders' equity of $469.3 million, with a tangible common equity ratio of 8.16% [16][30] - Independent Bank remains significantly above "well capitalized" standards for regulatory purposes [17][30] - The company had unused credit lines of approximately $1.02 billion with the FHLB and $484.6 million with the FRB [17][30]

Core Financial Performance - The company reported net income available to common stockholders of $27.9 million for Q2 2025, an increase from $19.6 million in Q1 2025 and $16.7 million in Q2 2024, translating to earnings per diluted share of $0.64, up from $0.45 and $0.43 respectively [2][36][41] - Net interest income for Q2 2025 was $98.1 million, compared to $94.2 million in Q1 2025 and $75.5 million in Q2 2024, reflecting a year-over-year growth [5][36] - The net interest margin (NIM) improved to 2.98% in Q2 2025 from 2.95% in Q1 2025 and 2.41% in Q2 2024 [6][41] Deposit and Loan Growth - Total deposits increased by $711.7 million year-over-year, reaching $11.74 billion as of June 30, 2025, compared to $11.03 billion a year earlier [8][15] - Core deposits (excluding brokered and time deposits) rose by $1.21 billion year-over-year [8] - Business loans grew by $113.3 million quarter-over-quarter and $371.3 million year-over-year, totaling $2.90 billion at the end of Q2 2025 [8][10] Capital and Efficiency Ratios - The company's Common Equity Tier 1 Ratio increased to 11.25% at the end of Q2 2025, reflecting strong capital management [8][25] - The efficiency ratio improved to 55.0% in Q2 2025 from 63.1% in Q1 2025 and 63.8% in Q2 2024, indicating better operational efficiency [22][41] Credit Quality and Provisions - Non-performing loans decreased to $53.2 million at June 30, 2025, down from $58.0 million at March 31, 2025, and $24.8 million at June 30, 2024 [24] - A credit loss provision of $9.2 million was recorded in Q2 2025, slightly down from $9.6 million in Q1 2025 and up from $5.6 million in Q2 2024 [24] Strategic Initiatives - The company has made significant hires to support its growth strategy, including the recruitment of executives to lead new lending verticals [8][21] - Plans for geographic expansion include opening a new branch in Lakewood, New Jersey, in early 2026 and another in Manhattan in Q4 2025 [8]

Core Insights - Five Star Bancorp reported a net income of $14.5 million for Q2 2025, an increase from $13.1 million in Q1 2025 and $10.8 million in Q2 2024 [1][8][9] Financial Performance - Return on average assets (ROAA) improved to 1.37% in Q2 2025 from 1.30% in Q1 2025 and 1.23% in Q2 2024 [2][12] - Return on average equity (ROAE) increased to 14.17% in Q2 2025 from 13.28% in Q1 2025 and 11.72% in Q2 2024 [2][12] - Pre-tax income rose to $20.1 million in Q2 2025, up from $18.4 million in Q1 2025 and $15.2 million in Q2 2024 [2][12] - Basic and diluted earnings per share were both $0.68 in Q2 2025, compared to $0.62 in Q1 2025 and $0.51 in Q2 2024 [2][12] Loan and Deposit Growth - Total loans held for investment increased by $136.2 million, or 3.76% (15.04% annualized), from Q1 2025 to Q2 2025 [3][7] - Total deposits rose by $158.3 million, or 4.24% (16.94% annualized), during the same period [3][7] - Non-wholesale deposits increased by $191.6 million, or 6.29%, while wholesale deposits decreased by $33.4 million, or 4.84% [6][7] Interest Income and Margin - Net interest income for Q2 2025 was $36.5 million, an increase of $2.5 million, or 7.47%, from Q1 2025 [2][21] - Net interest margin improved to 3.53% in Q2 2025 from 3.45% in Q1 2025 [2][12] Expense Management - Non-interest expense increased by $0.7 million in Q2 2025 compared to Q1 2025, primarily due to higher business travel and promotional expenses [8][9] - The efficiency ratio improved to 41.03% in Q2 2025 from 42.58% in Q1 2025 [10][12] Asset Quality - The ratio of nonperforming loans to loans held for investment increased slightly from 0.05% at the end of Q1 2025 to 0.06% at the end of Q2 2025 [11][27] - The allowance for credit losses was $40.2 million as of June 30, 2025, up from $37.8 million at the end of 2024 [26][28] Market Expansion - The company plans to open a new office in Walnut Creek in Q3 2025, expanding its presence in the San Francisco Bay Area [5][6] - The team in the Bay Area has grown to 34 employees, with deposits totaling $456.9 million as of June 30, 2025 [5][6]

Financial Performance - Northrim BanCorp reported net income of $11.8 million, or $2.09 per diluted share, in Q2 2025, down from $13.3 million, or $2.38 per diluted share, in Q1 2025, but up from $9.0 million, or $1.62 per diluted share, in Q2 2024 [1][4] - Net interest income increased by 7% to $33.6 million compared to $31.3 million in Q1 2025 and by 24% compared to $27.1 million in Q2 2024 [5][23] - The net interest margin on a tax-equivalent basis (NIMTE) was 4.72% for Q2 2025, up from 4.61% in Q1 2025 and 4.30% in Q2 2024 [5][24] Loan and Deposit Growth - Total portfolio loans reached $2.20 billion at June 30, 2025, a 4% increase from the previous quarter and a 17% increase year-over-year [5][4] - Total deposits were $2.81 billion at June 30, 2025, up 1% from the preceding quarter and up 14% from $2.46 billion a year ago [5][4] Operating Income and Expenses - Other operating income contributed $16.6 million, or 33% of total revenues in Q2 2025, compared to $13.0 million, or 29% in Q1 2025, and $9.6 million, or 26% in Q2 2024 [29] - Operating expenses increased to $32.5 million in Q2 2025 from $28.2 million in Q1 2025 and $25.2 million in Q2 2024, primarily due to higher salaries and personnel expenses [31] Credit Losses and Provisions - Northrim recorded a provision for credit losses of $2.0 million in Q2 2025, compared to a benefit of $1.4 million in Q1 2025 [25][26] - The allowance for credit losses on loans was 290% of nonperforming loans at the end of Q2 2025, compared to 262% three months earlier [28] Mortgage Banking - Mortgage loan originations were $277.1 million in Q2 2025, up from $121.6 million in Q1 2025 and $181.5 million in Q2 2024 [5][39] - The provision for credit losses in the Home Mortgage Lending segment was $639,000 in Q2 2025, compared to a benefit of $307,000 in Q1 2025 [43] Specialty Finance Segment - The Specialty Finance segment includes Northrim Funding Services and Sallyport, which was acquired for approximately $53.9 million [51][52] - Total pre-tax income for Sallyport in Q2 2025 was $1.3 million, consistent with Q1 2025 [52]

Financial Data and Key Metrics Changes - Loans held for investment increased by $223 million or 1.7% linked quarter and $374.8 million or 2.9% year to date [4] - Deposit base grew by $35 million during the quarter, with personal and commercial deposits totaling $13 billion at June 30, an increase of $103.8 million or 0.8% from the prior quarter [5] - Net income for the second quarter was $55.8 million, representing fully diluted EPS of $0.92, up 4.5% from the prior quarter [5] - Return on average assets was 1.21% and return on average tangible equity was 13.13% in the second quarter [5] - Net interest income expanded by 4.3% to $161.4 million, producing a net interest margin of 3.81%, an increase of six basis points from the prior quarter [5] - Non-interest income totaled $39.9 million, unchanged linked quarter [6] - Non-interest expense increased by $1.1 million or 0.9% linked quarter [6] - Non-performing assets declined by $5 million or 5.3% linked quarter [7] - CET1 ratio increased by seven basis points to 11.7% [8] Business Line Data and Key Metrics Changes - Growth in loans was diversified across one to four family mortgage loans, other loans and leases, and commercial and industrial loans [4] - Non-interest income was positively impacted by wealth management and brokerage business due to improved financial markets [55] Market Data and Key Metrics Changes - The company is monitoring the impact of tariffs and other administrative policies on its customer base, but has not seen a significant impact at this point [11] Company Strategy and Development Direction - The company is focusing on organic loan growth, potential market expansion, and M&A opportunities [13] - The company is actively recruiting talent in key growth markets such as Houston, Birmingham, Atlanta, and South Alabama [34] - The company is interested in participating in M&A activity but will approach it conservatively [35] Management's Comments on Operating Environment and Future Outlook - The company expects loans held for investment to increase in mid-single digits for the full year, revised upward from low single-digit growth [11] - The net interest margin guidance has been tightened to a range of 3.77% to 3.83% for the full year [12] - The provision for credit losses is expected to trend lower compared to the full year 2024 [12] Other Important Information - The company repurchased $11 million of common stock during the quarter, with a remaining repurchase authority of $74 million for the year [9] - The quarterly cash dividend declared was $0.24 per share [10] Q&A Session Summary Question: What is driving the increase in growth guidance to mid-single digits? - Management indicated it is a combination of good production in non-CRE categories and delays in scheduled maturities for the CRE book [17][18] Question: Is there potential for further profitability improvement? - Management believes there is upside in profitability due to operating leverage and potential net interest margin expansion [20][22] Question: Are there any rate cut assumptions in the NIM guidance? - Management has a baseline forecast that includes a Fed rate cut in September and December, which may impact net interest margin [30] Question: What are the company's thoughts on M&A versus organic growth? - Management is focusing on both organic growth and M&A opportunities, with a conservative approach to M&A [34][35] Question: How does the recent guidance revision impact reserves? - Management noted a slight decrease in the reserve percentage and a reduction in criticized and classified loans, which positively impacts provisioning [42][46]

Financial Data and Key Metrics Changes - GAAP earnings were strong with core earnings continuing to increase, return on average assets was 1.51% and return on average equity was 15.12% for Q2 2025 compared to 1.45% and 14.97% respectively for Q1 2025 [5][6] - Net interest margin (NIM) increased to 4.07% in Q2 2025 from 4% in Q1 2025, with expectations for further upside [6][14] - Noninterest income increased by $1.3 million quarter-over-quarter, with fee income as a percentage of operating revenue improving to 21% [6][15] Business Line Data and Key Metrics Changes - Total loan growth was 6% on an annualized basis for the quarter, with commercial loan growth at 2% [9][10] - Wealth management fees remained the largest component of fee income, with assets under management reaching $3 billion [7][15] - Noninterest expense declined by approximately $600,000 in the quarter, indicating improved cost management [18][19] Market Data and Key Metrics Changes - The loan pipeline is reported to be the strongest since the merger, reflecting a resilient regional economy [10][11] - Credit quality remains sound with net charge-offs being nominal and classified loans decreasing by 14% [11][21] - The average yield on loans was 6.5%, impacted by lower purchase accounting accretion [23] Company Strategy and Development Direction - The company aims to enhance its wealth management business and is focused on talent acquisition to support growth [7][48] - A share repurchase program of up to 500,000 shares was authorized, indicating confidence in the company's valuation [11][12] - The company is considering strategic opportunities, including potential acquisitions, while maintaining a focus on shareholder value [26][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future earnings growth as loan growth accelerates and expenses are expected to decline [5][8] - The competitive lending environment is acknowledged, but management remains confident in their ability to grow loans prudently [10][15] - The company is asset sensitive, and potential rate cuts could negatively impact net interest income, but management is focused on managing deposit costs [42][44] Other Important Information - The efficiency ratio improved to 58.7% in Q2 2025 from 60.5% in Q1 2025, with expectations for further improvement [8][19] - The board voted to increase the quarterly dividend by $0.01 per share, marking the third increase in the past year [12] Q&A Session Summary Question: Are there still other credits in the Codorus Valley deal that you are looking to move off of or sell? - Management indicated that while there may be a couple of loans to consider selling, they have been successful in working them out with minimal charge-offs [31] Question: Is there a capital level you would like to reach before considering another acquisition? - Management stated they are at premerger capital levels and feel confident about their position for potential acquisitions [36] Question: Can you provide commentary on the potential for NIM expansion in Q3 with possible rate cuts? - Management acknowledged that rate cuts could negatively impact net interest income but emphasized the importance of properly pricing loans [42][44] Question: What initiatives are in place for growth in the wealth management business? - Management highlighted opportunities for growth through talent acquisition and expanding in markets like Maryland and Lancaster [48] Question: How has the sentiment of commercial clients changed recently? - Management reported that the loan pipeline is the largest since the merger, indicating positive sentiment among commercial clients [52] Question: What is the current line utilization rate in the commercial portfolio? - Management noted that line utilization rates have remained stable and modest [61] Question: Are you ready for another transaction a year after the Codorus Valley deal? - Management expressed that they are looking for opportunities that add value and are focused on best practices for future acquisitions [70]