Net income of $58.2 million for the first quarter of 2025 decreased by$28.8 million, or 33%, compared to the first quarter of 2024, reflecting market uncertainty that delayed origination closings and permanent loan conversions in a growing pipeline, which negatively impacted the recognition of gain on sale and net interest margin. The decrease in net income was primarily driven by a $17.2 million, or 42$12.8 million, or 26%, increase in noninterest expense, a $4.9 milli ...