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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME          
Loans, Including Fees $ 37,666 $ 34,358 $ 31,049 $ 103,768 $ 87,705
Investment Securities 4,372 3,325 2,333 10,567 7,065
Other 321 99 135 500 334
Total Interest Income 42,359 37,782 33,517 114,835 95,104
INTEREST EXPENSE          
Deposits 5,984 3,456 3,417 12,598 10,601
Notes Payable         61
FHLB Advances 329 167 213 646 669
Subordinated Debentures 1,242 1,219 1,214 3,658 3,411
Federal Funds Purchased 709 410   1,128 6
Total Interest Expense 8,264 5,252 4,844 18,030 14,748
NET INTEREST INCOME 34,095 32,530 28,673 96,805 80,356
Provision for Loan Losses 1,500 3,025 1,300 6,200 4,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 32,595 29,505 27,373 90,605 76,356
NONINTEREST INCOME          
Customer Service Fees 313 298 268 892 733
Net Gain on Sales of Available for Sale Securities   52 48 52 750
Other Income 1,074 1,300 1,094 3,650 2,538
Total Noninterest Income 1,387 1,650 1,410 4,594 4,021
NONINTEREST EXPENSE          
Salaries and Employee Benefits 9,449 8,977 8,309 27,120 22,923
Occupancy and Equipment 1,086 1,042 942 3,213 2,977
Other Expense 3,622 3,733 3,985 11,084 9,736
Total Noninterest Expense 14,157 13,752 13,236 41,417 35,636
INCOME BEFORE INCOME TAXES 19,825 17,403 15,547 53,782 44,741
Provision for Income Taxes 5,312 4,521 4,038 14,125 11,568
NET INCOME 14,513 12,882 11,509 39,657 33,173
Preferred Stock Dividends (1,013) (1,014)   (3,040)  
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 13,500 $ 11,868 $ 11,509 $ 36,617 $ 33,173
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.49 $ 0.43 $ 0.41 $ 1.32 $ 1.18
Diluted (in dollars per share) $ 0.47 $ 0.41 $ 0.40 $ 1.27 $ 1.14