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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and Dividend Income        
Interest and fees on loans and loans held for sale $ 22,130 $ 19,900 $ 60,205 $ 58,287
Interest on investment securities available for sale 2,922 828 5,983 2,421
Dividends on marketable equity securities 161 115 386 328
Interest on investment securities held to maturity 413 262 1,038 773
Dividends on Federal Home Loan Bank stock 34 28 90 74
Interest on deposits in other banks 1,899 149 2,907 248
Total Interest and Dividend Income 27,559 21,282 70,609 62,131
Interest Expense        
Interest expense on deposits 1,064 667 2,238 2,495
Interest expense on borrowings 88 89 260 237
Interest expense on junior subordinated debentures 96 94 284 282
Total Interest Expense 1,248 850 2,782 3,014
Net Interest Income 26,311 20,432 67,827 59,117
Benefit for credit losses (353) (1,106) (40) (3,021)
Net Interest Income After Benefit for Credit Losses 26,664 21,538 67,867 62,138
Other Operating Income        
Mortgage banking income 5,734 9,893 18,616 34,875
Purchased receivable income 561 530 1,529 1,637
Unrealized (loss) gain on marketable equity securities 33 (67) (1,199) 27
Gain on sale of marketable equity securities, net 0 36 0 67
Keyman life insurance proceeds 0 0 2,002 0
Other income 920 1,043 2,423 2,640
Total Other Operating Income 8,672 12,658 27,302 42,686
Other Operating Expense        
Salaries and other personnel expense 14,510 15,756 44,017 45,401
Data processing expense 2,315 2,198 6,618 6,439
Occupancy expense 1,710 1,707 5,184 5,236
Professional and outside services 894 703 2,324 1,969
Insurance expense 545 322 1,627 965
Marketing expense 524 533 1,763 1,609
OREO expense, net rental income and gains on sale 109 (378) 116 (367)
Intangible asset amortization expense 7 9 19 27
Other operating expense 1,672 1,684 4,957 4,918
Total Other Operating Expense 22,286 22,534 66,625 66,197
Income Before Provision for Income Taxes 13,050 11,662 28,544 38,627
Provision for income taxes 2,925 2,785 6,398 9,224
Net Income $ 10,125 $ 8,877 $ 22,146 $ 29,403
Earnings Per Share, Basic (in USD per share) $ 1.77 $ 1.43 $ 3.82 $ 4.73
Earnings Per Share, Diluted (in USD per share) $ 1.76 $ 1.42 $ 3.79 $ 4.69
Weighted Average Shares Outstanding, Basic (in shares) 5,681,089 6,196,260 5,790,000 6,207,681
Weighted Average Shares Outstanding, Diluted (in shares) 5,740,494 6,265,602 5,848,625 6,274,634
Bankcard fees        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 992 $ 878 $ 2,723 $ 2,497
Service charges on deposit accounts        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 432 $ 345 $ 1,208 $ 943