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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 income:        
Interest and fees on loans $ 32,756 $ 28,732 $ 64,232 $ 56,815
Interest and dividends on investments 232 248 520 497
Interest on deposits with banks 2,036 1,209 4,118 2,354
Total interest income 35,024 30,189 68,870 59,666
Interest expense:        
Interest on deposits 15,144 13,684 30,312 27,141
Interest on borrowings 2,009 2,193 4,080 4,159
Total interest expense 17,153 15,877 34,392 31,300
Net interest income 17,871 14,312 34,478 28,366
Provision for credit losses 984 483 1,574 687
Net interest income after provision for credit losses 16,887 13,829 32,904 27,679
Non-interest income        
Service fees on deposit accounts 312 359 620 738
Gain on sale of SBA loans 0 25 0 25
Other loan fees 145 163 322 402
Bank owned life insurance income 169 162 334 322
Other 190 492 361 776
Total non-interest income 816 1,201 1,637 2,263
Non-interest expense        
Compensation and benefits 3,264 3,070 6,555 6,289
Professional services 652 551 1,366 996
Occupancy and equipment 676 672 1,364 1,313
Data processing 425 264 845 629
FDIC insurance and other assessments 384 322 734 653
OREO expense 100 236 227 589
Other operating expense 1,179 1,120 2,127 2,301
Total non-interest expense 6,680 6,235 13,218 12,770
Income before income tax expense 11,023 8,795 21,323 17,172
Income tax expense 2,740 2,340 5,262 4,566
Net income attributable to the Company 8,283 6,455 16,061 12,606
Less: Preferred stock dividend (5) (5) (10) (11)
Net income available to common shareholders $ 8,278 $ 6,450 $ 16,051 $ 12,595
Earnings per common share        
Basic (in dollars per share) $ 0.7 $ 0.54 $ 1.36 $ 1.05
Diluted (in dollars per share) $ 0.69 $ 0.53 $ 1.34 $ 1.04
Weighted average common shares outstanding        
Basic (in shares) 11,843,328 11,962,197 11,839,856 11,960,487
Diluted (in shares) 12,008,224 12,119,359 12,007,594 12,125,546