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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 36,538 $ 33,439 $ 71,639 $ 67,275
Securities, taxable 4,407 1,944 7,851 3,672
Securities, exempt from Federal tax 271 404 568 833
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 2,340 845 3,404 1,613
Total interest income 43,556 36,632 83,462 73,393
Interest expense:        
Deposits 1,146 1,179 2,260 2,411
Subordinated debt 531 577 1,102 1,148
Total interest expense 1,677 1,756 3,362 3,559
Net interest income before provision for credit losses on loans 41,879 34,876 80,100 69,834
Provision for (recapture of) credit losses on loans (181) (493) (748) (2,005)
Net interest income after provision for credit losses on loans 42,060 35,369 80,848 71,839
Noninterest income:        
Service charges and fees on deposit accounts 867 659 1,479 1,260
Increase in cash surrender value of life insurance 480 458 960 914
Servicing income 139 104 245 286
Termination fees 45 57 45 147
Gain on sales of SBA loans 27 83 183 633
Gain on proceeds from company-owned life insurance 27 396 27 462
Gain on warrants     637  
Other 513 412 982 768
Total noninterest income 2,098 2,169 4,558 4,470
Noninterest expense:        
Salaries and employee benefits 13,476 12,572 27,297 26,530
Occupancy and equipment 2,277 2,247 4,714 4,521
Professional fees 1,291 1,771 2,371 3,490
Other 6,146 9,185 12,060 14,478
Total noninterest expense 23,190 25,775 46,442 49,019
Income before income taxes 20,968 11,763 38,964 27,290
Income tax expense 6,147 2,950 11,277 7,273
Net income $ 14,821 $ 8,813 $ 27,687 $ 20,017
Earnings per common share:        
Basic (in dollars per share) $ 0.24 $ 0.15 $ 0.46 $ 0.33
Diluted (in dollars per share) $ 0.24 $ 0.15 $ 0.45 $ 0.33
Service charges and fees on deposit accounts        
Noninterest income:        
Revenue, Product and Service [Extensible List] Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts