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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Loans, including fees $ 24,831 $ 15,861 $ 64,245 $ 45,360
Loans accounted for under the fair value option 513   859  
Investment securities 653 180 1,408 545
Interest-bearing deposits in other financial institutions 533 105 1,314 288
Total interest and dividend income 26,530 16,146 67,826 46,193
Interest expense:        
Deposits 2,706 829 4,752 2,669
Other borrowed funds 1,027 471 1,855 1,402
Total interest expense 3,733 1,300 6,607 4,071
Net interest income 22,797 14,846 61,219 42,122
Less: Provision for loan losses 1,756 406 2,485 418
Net interest income, after provision for loan losses 21,041 14,440 58,734 41,704
Non-interest income:        
Trust and investment management fees 4,664 5,167 14,616 15,023
Net gain on mortgage loans 885 4,480 4,531 13,590
Bank fees 670 458 1,960 1,224
Risk management and insurance fees 115 301 307 444
Income on company-owned life insurance 88 89 261 266
Net gain on equity interests 6   7  
Net (loss)/gain on loans accounted for under the fair value option (134)   (289)  
Unrealized gain/(loss) recognized on equity securities 75 (3) 342 (13)
Other 85   259 60
Total non-interest income 6,454 10,492 21,994 30,594
Total income before non-interest expense 27,495 24,932 80,728 72,298
Non-interest expense:        
Salaries and employee benefits 11,566 10,229 36,569 29,733
Occupancy and equipment 1,836 1,550 5,610 4,402
Professional services 2,316 1,660 5,869 4,309
Technology and information systems 1,172 945 3,294 2,791
Data processing 888 912 3,062 3,020
Marketing 403 397 1,388 1,116
Amortization of other intangible assets 77 5 231 13
Net (gain)/loss on assets held for sale (1)   (4)  
Net (gain)/loss on sale of other real estate owned (41)   (41)  
Other 1,044 768 3,223 2,221
Total non-interest expense 19,260 16,466 59,201 47,605
Income before income taxes 8,235 8,466 21,527 24,693
Income tax expense 2,014 2,049 5,300 6,000
Net income available to common shareholders $ 6,221 $ 6,417 $ 16,227 $ 18,693
Earnings per common share:        
Basic $ 0.66 $ 0.80 $ 1.72 $ 2.35
Diluted $ 0.64 $ 0.78 $ 1.67 $ 2.28