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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 income:        
Loans $ 14,055 $ 10,709 $ 37,499 $ 30,408
Securities 1,126 583 2,975 1,588
Securities purchased under agreements to resell 377 150 699 470
Interest earning deposits and other 402 51 767 134
Total interest income 15,960 11,493 41,940 32,600
Interest expense:        
Savings, NOW and money market deposits 368 189 841 536
Time deposits 44 19 90 59
Borrowings 1 1 3 2
Total interest expense 413 209 934 597
Net interest income 15,547 11,284 41,006 32,003
Provision for loan losses 650 3,750 2,140 6,400
Net interest income after provision for loan losses 14,897 7,534 38,866 25,603
Noninterest income:        
Total noninterest income 6,432 4,924 18,143 15,856
Noninterest expense:        
Employee compensation and benefits 6,519 5,523 18,952 16,189
Occupancy and equipment 760 696 2,260 2,104
Professional and consulting services 840 773 2,298 2,352
FDIC and regulatory assessments 142 111 401 320
Advertising and marketing 480 289 1,109 936
Travel and business relations 179 105 403 212
Data processing 1,107 977 3,167 2,734
Other operating expenses 811 533 2,019 1,466
Total noninterest expense 10,838 9,007 30,609 26,313
Net income before income taxes 10,491 3,451 26,400 15,146
Income tax expense 2,780 932 6,996 3,951
Net income $ 7,711 $ 2,519 $ 19,404 $ 11,195
Earnings per share        
Basic (in dollars per share) $ 1.01 $ 0.34 $ 2.54 $ 1.50
Diluted (in dollars per share) $ 0.94 $ 0.32 $ 2.37 $ 1.42
Payment processing fees        
Noninterest income:        
Noninterest income $ 5,458 $ 5,227 $ 16,287 $ 15,948
Customer related fees, service charges and other        
Noninterest income:        
Noninterest income $ 974 81 1,768 292
Gain (loss) on loans held for sale member        
Noninterest income:        
Noninterest income   $ (384) $ 88 $ (384)