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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
INTEREST INCOME    
Interest and fees on loans $ 21,448 $ 16,892
Interest on deposits with banks 227 122
Interest on investment securities 648 631
Interest on tax-exempt loans and securities 939 1,418
Total interest income 23,262 19,063
INTEREST EXPENSE    
Interest on deposits 656 1,048
Interest on short-term borrowings 5 44
Interest on subordinated debt 753 466
Total interest expense 1,414 1,558
NET INTEREST INCOME 21,848 17,505
Provision for loan losses 1,280 618
Net interest income after provision for loan losses 20,568 16,887
NONINTEREST INCOME    
Payment card and service charge income 2,642 1,493
Insurance and investment services income 254 224
Gain on sale of available-for-sale securities, net 650 1,143
Gain on sale of loans, net 1,083 0
Holding gain (loss) on equity securities, net (59) 515
Compliance and consulting income 3,869 1,281
Equity method investment income 1,138 6,469
Equity method investment gain 1,803 0
Other operating income 490 1,333
Total noninterest income 11,870 12,458
NONINTEREST EXPENSES    
Salaries and employee benefits 17,961 11,911
Occupancy expense 972 1,158
Equipment depreciation and maintenance 1,226 1,041
Data processing and communications 1,016 909
Marketing, contributions and sponsorships 325 65
Professional fees 2,821 1,742
Insurance, tax and assessment expense 536 538
Travel, entertainment, dues and subscriptions 1,978 884
Other operating expenses 2,027 870
Total noninterest expense 28,862 19,118
Income before income taxes 3,576 10,227
Income taxes 905 2,169
Net income before noncontrolling interest 2,671 8,058
Net loss attributable to noncontrolling interest 193 27
Net income attributable to parent 2,864 8,085
Preferred dividends 0 35
Net income available to common shareholders $ 2,864 $ 8,050
Earnings per common shareholder - basic (in dollars per share) $ 0.24 $ 0.70
Earnings per common shareholder - diluted (in dollars per share) $ 0.22 $ 0.66
Weighted average shares outstanding - basic (in shares) 12,093,179 11,530,279
Weighted average shares outstanding - diluted (in shares) 12,927,811 12,286,731