XML 56 R4.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and fee income:        
Loans, including fees $ 56,016 $ 46,362 $ 108,947 $ 90,148
Taxable securities 403 474 810 951
Nontaxable securities 174 176 348 352
Interest-bearing deposits in banks 3,987 1,986 7,562 5,088
Total interest and fee income 60,580 48,998 117,667 96,539
Interest expense:        
Deposits 22,904 18,717 44,852 38,228
Subordinated notes 1,161 1,162 2,323 2,323
Other borrowings 0 27 0 152
Total interest expense 24,065 19,906 47,175 40,703
Net interest income 36,515 29,092 70,492 55,836
Provision for credit losses 2,500 2,000 4,400 2,900
Net interest income after provision for credit losses 34,015 27,092 66,092 52,936
Non-interest income:        
Service charges on deposit accounts 196 189 411 377
Gain on sale of loans 119 449 244 818
Loan-related fees 468 370 916 799
FHLB stock dividends 325 329 656 661
Earnings on BOLI 220 158 381 300
Other 482 78 561 451
Total non-interest income 1,810 1,573 3,169 3,406
Non-interest expense:        
Salaries and employee benefits 8,910 7,803 18,044 15,380
Occupancy and equipment 657 646 1,294 1,272
Data processing and software 1,508 1,235 2,965 2,392
FDIC insurance 470 390 925 790
Professional services 918 767 1,831 1,474
Advertising and promotional 865 615 1,387 1,075
Loan-related expenses 423 297 742 594
Other operating expenses 1,975 1,760 3,583 3,252
Total non-interest expense 15,726 13,513 30,771 26,229
Income before provision for income taxes 20,099 15,152 38,490 30,113
Provision for income taxes 5,591 4,370 10,871 8,700
Net income $ 14,508 $ 10,782 $ 27,619 $ 21,413
Basic earnings per common share (in USD per share) $ 0.68 $ 0.51 $ 1.30 $ 1.12
Diluted earnings per common share (in USD per share) $ 0.68 $ 0.51 $ 1.30 $ 1.12