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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans and leases, including fees $ 50,853 $ 45,446 $ 100,873 $ 90,173
Securities:        
Taxable 5,320 4,335 9,869 7,986
Tax-exempt 353 357 705 709
Federal funds sold and other earning assets 4,759 1,956 9,620 6,405
Total interest income 61,285 52,094 121,067 105,273
Interest expense:        
Deposits 27,439 19,554 54,474 35,900
Borrowings 148 339 276 564
Subordinated debt 884 626 1,782 1,252
Total interest expense 28,471 20,519 56,532 37,716
Net interest income 32,814 31,575 64,535 67,557
Provision for credit losses 883 113 443 663
Net interest income after provision for credit losses 31,931 31,462 64,092 66,894
Noninterest income:        
Service charges on deposit accounts 1,692 1,657 3,304 3,102
Mortgage banking 348 332 628 504
Investment services 1,302 1,300 2,682 2,305
Insurance commissions 1,284 1,139 2,387 2,398
Interchange and debit card transaction fees, net 1,343 1,347 2,596 2,730
Other 1,635 1,355 4,387 3,016
Total noninterest income 7,604 7,130 15,984 14,055
Noninterest expense:        
Salaries and employee benefits 17,261 15,947 33,900 32,689
Occupancy and equipment 3,324 3,318 6,720 6,526
FDIC insurance 825 875 1,740 1,416
Other real estate and loan related expense 538 441 1,123 1,013
Advertising and marketing 295 305 597 660
Data processing and technology 2,452 2,235 4,916 4,398
Professional services 1,064 764 1,989 1,572
Amortization of intangibles 608 675 1,220 1,334
Other 2,834 2,850 5,549 5,331
Total noninterest expense 29,201 27,410 57,754 54,939
Income before income tax expense 10,334 11,182 22,322 26,010
Income tax expense 2,331 2,346 4,962 5,674
Net income $ 8,003 $ 8,836 $ 17,360 $ 20,336
Earnings per common share:        
Basic (in dollars per share) $ 0.48 $ 0.53 $ 1.03 $ 1.21
Diluted (in dollars per share) $ 0.48 $ 0.52 $ 1.03 $ 1.20
Weighted average common shares outstanding:        
Basic (in shares) 16,770,819 16,806,389 16,810,277 16,798,939
Diluted (in shares) 16,850,250 16,898,091 16,887,374 16,897,444