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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans, including fees $ 44,600 $ 44,112
Securities, taxable 6,183 7,056
Securities, exempt from Federal tax 226 247
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 6,542 4,859
Total interest income 57,551 56,274
Interest expense:    
Deposits 16,920 5,901
Short-term borrowings   578
Subordinated debt 538 537
Total interest expense 17,458 7,016
Net interest income before provision for credit losses on loans 40,093 49,258
Provision for credit losses on loans 184 32
Net interest income after provision for credit losses on loans 39,909 49,226
Noninterest income:    
Service charges and fees on deposit accounts 877 1,743
Increase in cash surrender value of life insurance 518 493
Gain on sales of SBA loans 178 76
Servicing income 90 131
Termination fees 13 11
Other 371 312
Total noninterest income 2,047 2,766
Noninterest expense:    
Salaries and employee benefits 15,509 14,809
Occupancy and equipment 2,443 2,400
Professional fees 1,327 1,399
Other 8,257 6,793
Total noninterest expense 27,536 25,401
Income before income taxes 14,420 26,591
Income tax expense 4,254 7,674
Net income $ 10,166 $ 18,917
Earnings per common share:    
Basic (in dollars per share) $ 0.17 $ 0.31
Diluted (in dollars per share) $ 0.17 $ 0.31