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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 $ 19,199 $ 20,238
Interest and dividends on investments 189 200
Interest on deposits with banks 248 123
Total interest income 19,636 20,561
Interest expense:    
Interest on deposits 1,840 2,827
Interest on borrowings 696 928
Total interest expense 2,536 3,755
Net interest income 17,100 16,806
Provision for loan losses 0 500
Net interest income after provision for loan losses 17,100 16,306
Non-interest income    
Service fees on deposit accounts 1,316 1,612
Gain on sale of SBA loans 0 45
Other loan fees 276 265
Bank owned life insurance income 138 140
Net gain (loss) on sale and valuation adjustment of OREO 47 (21)
Other 298 196
Total non-interest income 2,075 2,237
Non-interest expense    
Compensation and benefits 2,688 2,625
Professional services 551 853
Occupancy and equipment 645 544
Data processing 324 345
FDIC insurance and other assessments 287 261
OREO expense 34 15
Other operating expense 1,149 1,127
Total non-interest expense 5,678 5,770
Income before income tax expense 13,497 12,773
Income tax expense 3,406 3,247
Net income attributable to Company and noncontrolling interest 10,091 9,526
Less: Net income attributable to noncontrolling interest 0 (97)
Net income attributable to Company 10,091 9,429
Less: Preferred stock dividend (7) (7)
Net income available to common shareholders $ 10,084 $ 9,422
Earnings per common share    
Basic (in dollars per share) $ 0.85 $ 0.79
Diluted (in dollars per share) $ 0.83 $ 0.78
Weighted average common shares outstanding    
Basic (in shares) 11,905,330 11,872,246
Diluted (in shares) 12,180,320 12,108,846