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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 13,106,000 $ 10,947,000 $ 25,707,000 $ 21,418,000
Interest on securities 5,099,000 5,159,000 10,181,000 10,284,000
Interest on federal funds sold 395,000 287,000 726,000 576,000
Interest on deposits with banks 1,645,000 3,710,000 3,623,000 7,821,000
Total interest income 20,245,000 20,103,000 40,237,000 40,099,000
INTEREST EXPENSE        
Deposits 2,953,000 696,000 5,704,000 1,148,000
Federal funds purchased 0 0 0 1,000
Total interest expense 2,953,000 696,000 5,704,000 1,149,000
Net interest income 17,292,000 19,407,000 34,533,000 38,950,000
Reversal of provision for credit losses 0 0 0 (460,000)
Net interest income after provision for (reversal of) credit losses 17,292,000 19,407,000 34,533,000 39,410,000
NON-INTEREST INCOME        
Earnings on cash surrender value of life insurance 255,000 194,000 477,000 383,000
Gains on sales and calls of available-for-sale securities 34,000 0 114,000 143,000
Other 616,000 541,000 996,000 1,035,000
Total non-interest income 1,760,000 1,655,000 3,279,000 3,311,000
NON-INTEREST EXPENSE        
Salaries and employee benefits 7,201,000 6,336,000 14,523,000 12,775,000
Occupancy expenses 1,131,000 1,131,000 2,295,000 2,318,000
Data processing fees 741,000 619,000 1,441,000 1,231,000
Regulatory assessments (FDIC & DFPI) 260,000 220,000 550,000 415,000
Other operating expenses 2,283,000 1,756,000 4,336,000 3,080,000
Total non-interest expense 11,616,000 10,062,000 23,145,000 19,819,000
Net income before provision for income taxes 7,436,000 11,000,000 14,667,000 22,902,000
Total provision for income taxes 1,547,000 2,596,000 3,051,000 5,273,000
Net Income $ 5,889,000 $ 8,404,000 $ 11,616,000 $ 17,629,000
Net income per share (in dollars per share) $ 0.72 $ 1.03 $ 1.41 $ 2.15
Net income per diluted share (in dollars per share) $ 0.71 $ 1.02 $ 1.41 $ 2.14
Deposit Account [Member]        
NON-INTEREST INCOME        
Other income $ 412,000 $ 462,000 $ 817,000 $ 878,000
Debit Card [Member]        
NON-INTEREST INCOME        
Other income 438,000 458,000 861,000 863,000
Mortgage Banking [Member]        
NON-INTEREST INCOME        
Other income $ 5,000 $ 0 $ 14,000 $ 9,000