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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and Dividend Income        
Interest and fees on loans and loans held for sale $ 32,367 $ 26,313 $ 62,817 $ 50,007
Interest on investment securities available for sale 3,556 3,996 7,274 7,930
Dividends on marketable equity securities 227 175 470 343
Interest on investment securities held to maturity 470 473 952 947
Dividends on Federal Home Loan Bank stock 57 35 134 71
Interest on deposits in other banks 232 828 1,070 2,317
Total Interest and Dividend Income 36,909 31,820 72,717 61,615
Interest Expense        
Interest expense on deposits 9,476 6,114 18,656 10,697
Interest expense on borrowings 287 470 373 557
Interest expense on junior subordinated debentures 93 94 188 187
Total Interest Expense 9,856 6,678 19,217 11,441
Net Interest Income 27,053 25,142 53,500 50,174
(Benefit) provision for credit losses (120) 1,407 29 1,767
Net Interest Income After Provision for Credit Losses 27,173 23,735 53,471 48,407
Other Operating Income        
Mortgage banking income 5,884 3,913 9,915 5,921
Purchased receivable income 1,242 1,018 2,587 1,995
Unrealized gain (loss) on marketable equity securities (60) (234) 254 (457)
Other income 834 792 1,522 1,573
Total Other Operating Income 9,577 6,980 17,421 11,888
Other Operating Expense        
Salaries and other personnel expense 16,627 15,183 32,044 30,667
Data processing expense 2,601 2,377 5,260 4,732
Occupancy expense 1,843 1,811 3,805 3,754
Professional and outside services 726 801 1,481 1,523
Insurance expense 692 647 1,471 1,204
Marketing expense 690 933 1,203 1,497
Intangible asset amortization expense 0 3 0 7
OREO expense, net rental income and gains on sale 2 (8) (389) 18
Other operating expense 2,013 2,035 3,957 3,889
Total Other Operating Expense 25,194 23,782 48,832 47,291
Income Before Provision for Income Taxes 11,556 6,933 22,060 13,004
Provision for income taxes 2,536 1,356 4,841 2,597
Net Income $ 9,020 $ 5,577 $ 17,219 $ 10,407
Earnings Per Share, Basic (in USD per share) $ 1.64 $ 0.99 $ 3.13 $ 1.84
Earnings Per Share, Diluted (in USD per share) $ 1.62 $ 0.98 $ 3.10 $ 1.82
Weighted Average Common Shares Outstanding, Basic (in shares) 5,500,588 5,632,174 5,500,083 5,661,803
Weighted Average Common Shares Outstanding, Diluted (in shares) 5,558,580 5,677,292 5,562,025 5,719,453
Bankcard fees        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 1,105 $ 986 $ 2,022 $ 1,894
Service charges on deposit accounts        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 572 $ 505 $ 1,121 $ 962