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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest and Dividend Income      
Interest and fees on loans and loans held for sale $ 108,612 $ 82,785 $ 79,241
Interest on investment securities available for sale 15,833 9,679 3,339
Dividends on marketable equity securities 766 563 440
Interest on investment securities held to maturity 1,893 1,511 1,037
Dividends on Federal Home Loan Bank stock 203 125 102
Interest on deposits in other banks 4,644 5,665 447
Total Interest Income 131,951 100,328 84,606
Interest Expense      
Interest expense on deposits 26,511 4,485 3,077
Interest expense on borrowings 1,784 339 320
Interest expense on junior subordinated debentures 400 389 382
Total Interest Expense 28,695 5,213 3,779
Net Interest Income 103,256 95,115 80,827
Provision (benefit) for credit losses 3,842 1,846 (4,099)
Net Interest Income After Provision (Benefit) for Credit Losses 99,414 93,269 84,926
Other Operating Income      
Mortgage banking income 12,763 21,572 42,144
Purchased receivable income 4,482 2,002 2,259
Commercial servicing revenue 554 1,628 306
Unrealized gain (loss) on marketable equity securities 120 (1,119) (101)
Keyman insurance proceeds 0 2,002 0
Gain on sale of marketable equity securities, net 0 0 67
Other income 2,550 2,684 2,902
Total Other Operating Income 26,375 34,077 52,263
Other Operating Expense      
Salaries and other personnel expense 61,741 58,172 60,412
Data processing expense 9,821 8,926 8,567
Occupancy expense 7,394 6,915 7,078
Professional and outside services 3,128 2,993 2,801
Marketing expense 2,929 2,747 2,741
Insurance expense 2,519 2,054 1,593
OREO (income) expense, net of rental income and gains on sale (794) 500 (432)
Intangible asset amortization expense 17 25 37
Other operating expense 7,426 6,520 6,399
Total Other Operating Expense 94,181 88,852 89,196
Income Before Provision for Income Taxes 31,608 38,494 47,993
Provision for income taxes 6,214 7,753 10,476
Net Income $ 25,394 $ 30,741 $ 37,517
Earnings per share, Basic (in USD per share) $ 4.53 $ 5.33 $ 6.07
Earnings per share, Diluted (in USD per share) $ 4.49 $ 5.27 $ 6.00
Weighted Average Shares Outstanding, Basic (in shares) 5,601,471 5,765,088 6,180,801
Weighted Average Shares Outstanding, Diluted (in shares) 5,661,460 5,829,412 6,249,313
Bankcard fees      
Other Operating Income      
Revenue from contract with customer $ 3,862 $ 3,697 $ 3,389
Service charges on deposit accounts      
Other Operating Income      
Revenue from contract with customer $ 2,044 $ 1,611 $ 1,297