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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans, including fees $ 49,278 $ 45,470 $ 95,980 $ 90,070
Securities, taxable 6,346 5,483 11,905 11,666
Securities, exempt from Federal tax 215 225 432 451
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 7,186 7,311 16,540 13,263
Total interest income 63,025 58,489 124,857 115,450
Interest expense:        
Deposits 17,682 19,084 35,617 36,004
Subordinated debt 538 538 1,075 1,076
Total interest expense 18,220 19,622 36,692 37,080
Net interest income 44,805 38,867 88,165 78,370
Provision for credit losses on loans 516 471 790 655
Net interest income after provision for credit losses on loans 44,289 38,396 87,375 77,715
Noninterest income:        
Service charges and fees on deposit accounts 929 891 1,821 1,768
FHLB and FRB stock dividends 584 588 1,174 1,178
Increase in cash surrender value of life insurance 548 521 1,086 1,039
Termination fees 227 100 314 113
Gain on sales of SBA loans 87 76 185 254
Servicing income 61 90 143 180
Gain on proceeds from company-owned life insurance 0 219 0 219
Other 541 379 950 750
Total noninterest income 2,977 2,864 5,673 5,501
Noninterest expense:        
Salaries and employee benefits 16,227 15,794 32,802 31,303
Occupancy and equipment 2,525 2,689 5,059 5,132
Professional fees 1,819 1,072 3,399 2,399
Other 17,764 8,633 26,531 16,890
Total noninterest expense 38,335 28,188 67,791 55,724
Income before income taxes 8,931 13,072 25,257 27,492
Income tax expense 2,542 3,838 7,242 8,092
Net income $ 6,389 $ 9,234 $ 18,015 $ 19,400
Earnings per common share:        
Basic (in dollars per share) $ 0.10 $ 0.15 $ 0.29 $ 0.32
Diluted (in dollars per share) $ 0.10 $ 0.15 $ 0.29 $ 0.32