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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest income:    
Interest and fees on loans $ 80,643 $ 82,336
Interest and dividends on investments 753 1,008
Interest on deposits with banks 676 1,194
Total interest income 82,072 84,538
Interest expense:    
Interest on deposits 9,754 17,711
Interest on borrowings 3,202 4,182
Total interest expense 12,956 21,893
Net interest income 69,116 62,645
Provision for loan losses 500 7,646
Net interest income after provision for loan losses 68,616 54,999
Non-interest income    
Service fees on deposit accounts 5,662 2,521
Other loan fees 1,346 860
Bank owned life insurance income 575 592
Gain on sale of SBA loans 214 0
Net gain/(loss) on sale and valuation adjustments of OREO 60 (371)
Other 942 581
Total non-interest income 8,799 4,183
Non-interest expense    
Compensation and benefits 9,731 10,611
Professional services 3,724 1,987
Occupancy and equipment 2,381 2,031
Data processing 1,306 1,290
FDIC insurance and other assessments 1,104 805
OREO expense 287 271
Other operating expense 3,970 3,301
Total non-interest expense 22,503 20,296
Income before income tax expense 54,912 38,886
Income tax expense 13,937 10,011
Net income attributable to Company and noncontrolling interest 40,975 28,875
Less: Net income attributable to noncontrolling interest (215) (447)
Net income attributable to Company 40,760 28,428
Less: Preferred stock dividend (28) (29)
Net income available to common shareholders $ 40,732 $ 28,399
Earnings per common share    
Basic (in dollars per share) $ 3.43 $ 2.40
Diluted (in dollars per share) $ 3.36 $ 2.37
Weighted average common shares outstanding    
Basic (in shares) 11,888,429 11,850,223
Diluted (in shares) 12,120,716 11,989,608