XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 23,775 $ 22,572 $ 44,141 $ 44,586
Securities:        
Taxable 1,922 1,640 3,677 3,244
Tax-exempt 319 356 644 722
Federal funds sold 14 3 24 3
Restricted equity securities 173 160 329 321
Interest-bearing deposits in financial institutions 286 101 458 234
Total interest income 26,489 24,832 49,273 49,110
Interest expense:        
Interest-bearing deposits 638 379 1,074 826
Savings and money market accounts 467 295 797 608
Time deposits 454 732 938 1,663
Federal Home Loan Bank advances 96 0 96 12
Subordinated notes 394 394 788 788
Total interest expense 2,049 1,800 3,693 3,897
Net interest income 24,440 23,032 45,580 45,213
Provision for loan losses 843 (1,065) 59 (415)
Net interest income after provision for loan losses 23,597 24,097 45,521 45,628
Noninterest income:        
Deposit service charges 1,182 1,109 2,324 2,211
Interchange and debit card transaction fees 1,336 1,227 2,558 2,318
Mortgage banking 1,705 3,910 3,671 8,625
Tri-Net (73) 1,536 2,098 2,679
Wealth management 459 471 899 931
SBA lending 273 377 494 870
Net gain (loss) on sale of securities 0 (13) 0 13
Other noninterest income 994 1,266 2,921 2,250
Total noninterest income 5,876 9,883 14,965 19,897
Noninterest expense:        
Salaries and employee benefits 9,209 10,803 19,478 20,229
Data processing and software 2,847 3,070 5,494 5,898
Occupancy 1,076 1,057 2,174 2,165
Equipment 783 980 1,492 1,880
Professional services 506 460 1,185 1,165
Regulatory fees 265 211 545 467
Acquisition related expenses 0 256 0 323
Amortization of intangibles 430 493 876 1,001
Other noninterest expense 1,959 1,750 3,566 3,364
Total noninterest expense 17,075 19,080 34,810 36,492
Income before income taxes 12,398 14,900 25,676 29,033
Income tax expense 2,426 2,824 5,031 5,927
Net income $ 9,972 $ 12,076 $ 20,645 $ 23,106
Per share information:        
Basic net income per share of common stock $ 0.45 $ 0.55 $ 0.93 $ 1.05
Diluted net income per share of common stock $ 0.45 $ 0.54 $ 0.93 $ 1.04
Weighted average shares outstanding:        
Basic 22,022,109 22,133,759 22,109,737 22,089,874
Diluted 22,074,260 22,198,829 22,163,954 22,138,052