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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and dividend income:    
Loans and loans held for sale $ 30,695 $ 33,650
Investment securities 4,588 3,394
Other interest-earning assets 181 65
Total interest and dividend income 35,464 37,109
Interest expense:    
Deposits 600 1,323
Borrowed funds 13 8
Subordinated debt 818 1,042
Total interest expense 1,431 2,373
Net interest income 34,033 34,736
Provision for credit losses 530 680
Net interest income after provision for credit losses 33,503 34,056
Non-interest income:    
Wealth management fees 1,729 1,612
Deposit and interchange fees 1,802 1,606
Income on bank-owned life insurance, net 295 136
Net gains on sales of debt securities 1,062 128
Net gains on sales of loans 22 128
Other income 685 689
Total non-interest income 5,595 4,299
Non-interest expense:    
Salaries and employee benefits 16,792 15,721
Occupancy and equipment expenses 2,415 2,381
Technology and telecommunications expenses 2,636 2,554
Advertising and public relations expenses 667 514
Audit, legal and other professional fees 710 567
Deposit insurance premiums 556 356
Supplies and postage expenses 220 227
Loss on extinguishment of subordinated debt 0 713
Other operating expenses 1,761 1,651
Total non-interest expense 25,757 24,684
Income before income taxes 13,341 13,671
Provision for income taxes 3,054 3,319
Net income $ 10,287 $ 10,352
Basic earnings per share (in dollars per share) $ 0.85 $ 0.87
Diluted earnings per share (in dollars per share) $ 0.85 $ 0.86
Basic weighted average common shares outstanding (in shares) 12,055,991 11,959,469
Diluted weighted average common shares outstanding (in shares) 12,119,836 11,994,437