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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and Dividend Income        
Interest and fees on loans and loans held for sale $ 26,313 $ 19,807 $ 50,007 $ 38,075
Interest on investment securities available for sale 3,996 1,926 7,930 3,061
Dividends on marketable equity securities 175 113 343 225
Interest on investment securities held to maturity 473 352 947 625
Dividends on Federal Home Loan Bank stock 35 28 71 56
Interest on deposits in other banks 828 766 2,317 1,008
Total Interest and Dividend Income 31,820 22,992 61,615 43,050
Interest Expense        
Interest expense on deposits 6,114 599 10,697 1,174
Interest expense on borrowings 470 87 557 173
Interest expense on junior subordinated debentures 94 94 187 187
Total Interest Expense 6,678 780 11,441 1,534
Net Interest Income 25,142 22,212 50,174 41,516
Provision for credit losses 1,407 463 1,767 313
Net Interest Income After Provision for Credit Losses 23,735 21,749 48,407 41,203
Other Operating Income        
Mortgage banking income 3,913 5,900 5,921 12,882
Purchased receivable income 1,018 566 1,995 968
Keyman life insurance proceeds 0 0 0 2,002
Unrealized loss on marketable equity securities (234) (810) (457) (1,232)
Other income 792 822 1,573 1,503
Total Other Operating Income 6,980 7,807 11,888 18,630
Other Operating Expense        
Salaries and other personnel expense 15,183 15,401 30,667 29,507
Data processing expense 2,377 2,311 4,732 4,303
Occupancy expense 1,811 1,748 3,754 3,474
Professional and outside services 801 708 1,523 1,430
Marketing expense 933 814 1,497 1,239
Insurance expense 647 516 1,204 1,082
Intangible asset amortization expense 3 6 7 12
OREO expense, net rental income and gains on sale (8) 19 18 7
Other operating expense 2,035 1,715 3,889 3,285
Total Other Operating Expense 23,782 23,238 47,291 44,339
Income Before Provision for Income Taxes 6,933 6,318 13,004 15,494
Provision for income taxes 1,356 1,523 2,597 3,473
Net Income $ 5,577 $ 4,795 $ 10,407 $ 12,021
Earnings Per Share, Basic (in USD per share) $ 0.99 $ 0.83 $ 1.84 $ 2.05
Earnings Per Share, Diluted (in USD per share) $ 0.98 $ 0.83 $ 1.82 $ 2.03
Weighted Average Shares Outstanding, Basic (in shares) 5,632,174 5,750,873 5,661,803 5,844,455
Weighted Average Shares Outstanding, Diluted (in shares) 5,677,292 5,805,870 5,719,453 5,902,287
Bankcard fees        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 986 $ 927 $ 1,894 $ 1,731
Service charges on deposit accounts        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 505 $ 402 $ 962 $ 776