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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest income:    
Loans, including fees $ 112,874 $ 73,071
Taxable securities 14,303 13,679
Tax-exempt securities 1,555 1,808
Federal funds sold 1,894 2
Other interest income 1,635 314
Total interest income 132,261 88,874
Interest expense:    
Deposits 43,808 7,801
Securities sold under agreements to repurchase 569 46
Federal Home Loan Bank advances 6,354 184
Federal Reserve Bank discount window borrowings 24 231
Federal funds purchased 8 44
Note payable 520  
Subordinated debentures 1,669 1,679
Total interest expense 52,952 9,985
Net interest income 79,309 78,889
Provision for credit losses 5,244 3,840
Net interest income after provision for loan losses 74,065 75,049
Noninterest income:    
Service charges and fees 7,570 6,814
Investment brokerage revenue 592 643
Mortgage operations 3,833 4,739
Bank owned life insurance income 2,428 1,226
Net gains (losses) on sales of investment securities 5 (2,066)
Community Development Financial Institution income 4,153 171
Other noninterest income 2,016 714
Total noninterest income 20,597 12,241
Noninterest expense:    
Salaries and employee benefits 36,684 30,758
Occupancy expenses 3,796 2,946
Equipment rentals, depreciation, and maintenance 2,007 1,596
Telephone and communications 548 469
Advertising and business development 1,408 1,131
Data processing 4,051 3,992
Foreclosed assets, net 64 (2)
Federal deposit insurance and other regulatory assessments 2,653 1,324
Legal and other professional services 1,009 809
Other operating expense 8,855 8,390
Total noninterest expense 61,075 51,413
Income before income taxes 33,587 35,877
Provision for income taxes 6,848 7,948
Net income $ 26,739 $ 27,929
Basic net earnings per common share $ 3.84 $ 4.21
Diluted net earnings per common share $ 3.79 $ 4.14