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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and dividend income:      
Other interest-earning assets $ 6,199 $ 9,943 $ 6,014
Investment securities 15,693 18,575 18,965
Loans and loans held for sale 208,378 172,535 135,934
Total interest and dividend income 230,270 201,053 160,913
Interest expense:      
Deposits 76,513 44,389 5,711
Borrowed funds 2,426 113 52
Subordinated debt 3,467 3,467 3,352
Total interest expense 82,406 47,969 9,115
Net interest income 147,864 153,084 151,798
Provision for credit losses 1,985 9,249 5,800
Net interest income after provision for credit losses 145,879 143,835 145,998
Non-interest income:      
Wealth management fees 7,888 6,730 6,533
Deposit and interchange fees 8,875 8,475 8,196
Income on bank-owned life insurance, net 2,001 1,264 1,202
Net losses on sales of debt securities (2) (2,419) (1,973)
Net gains on sales of loans 156 34 30
Net gain on sale of insurance commissions 0 0 2,034
Gains (losses) on equity securities 1,140 666 (514)
Other income 2,821 2,859 2,954
Total non-interest income 22,879 17,609 18,462
Non-interest expense:      
Salaries and employee benefits 78,224 72,283 72,120
Occupancy and equipment expenses 9,667 9,722 9,299
Technology and telecommunications expenses 10,708 10,656 10,735
Advertising and public relations expenses 2,585 2,786 2,758
Audit, legal and other professional fees 2,474 2,945 2,949
Deposit insurance premiums 3,571 2,712 1,783
Supplies and postage expenses 980 998 912
Merger-related expenses 1,137 0 0
Other operating expenses 7,786 8,097 7,758
Total non-interest expense 117,132 110,199 108,314
Income before income taxes 51,626 51,245 56,146
Provision for income taxes 12,893 13,187 13,430
Net income $ 38,733 $ 38,058 $ 42,716
Basic earnings per share (in dollars per share) $ 3.13 $ 3.11 $ 3.53
Diluted earnings per share (in dollars per share) $ 3.12 $ 3.11 $ 3.52
Basic weighted average common shares outstanding (in shares) 12,386,669 12,223,626 12,103,033
Diluted weighted average common shares outstanding (in shares) 12,398,062 12,244,036 12,149,777