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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans $ 13,588 $ 7,996 $ 38,372 $ 21,837
Debt securities 163 167 498 517
Other 1,583 739 5,116 2,243
Total interest income 15,334 8,902 43,986 24,597
Interest expense:        
Deposits 5,962 2,841 16,959 7,829
Borrowings 410 147 1,574 203
Total interest expense 6,372 2,988 18,533 8,032
Net interest income 8,962 5,914 25,453 16,565
Credit loss expense 357 1,446 1,610 2,970
Net interest income after credit loss expense 8,605 4,468 23,843 13,595
Noninterest income:        
Service charges and fees 990 881 2,822 2,359
Other 125 30 733 53
Total noninterest income 1,115 911 3,555 2,412
Noninterest expenses:        
Salaries and employee benefits 3,078 2,141 8,958 6,148
Professional fees 266 161 699 529
Occupancy and equipment 234 204 642 581
Data processing 574 455 1,702 1,206
Regulatory assessment 241 89 593 522
Litigation Settlement 375
Other 892 601 2,484 1,614
Total noninterest expenses 5,285 3,651 15,078 10,975
Net earnings before income taxes 4,435 1,728 12,320 5,032
Income taxes 1,133 459 3,147 1,298
Net earnings $ 3,302 $ 1,269 $ 9,173 $ 3,734
Net earnings per share - Basic $ 0.34 $ 0.18 $ 1.02 $ 0.52
Net earnings per share - Diluted $ 0.32 $ 0.18 $ 0.98 $ 0.52