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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Loans, including fees $ 20,052 $ 13,923 $ 51,083 $ 40,429
Taxable securities 1,010 402 2,417 1,134
Nontaxable securities 323 266 931 729
Other interest and dividends 1,135 143 1,713 315
Total interest income 22,520 14,734 56,144 42,607
Interest expense:        
Deposits 2,489 1,034 4,251 3,355
Other borrowings 596 60 1,439 435
Total interest expense 3,085 1,094 5,690 3,790
Net interest income 19,435 13,640 50,454 38,817
Provision for loan losses 1,663 750 3,667 2,250
Net interest income after provision for loan losses 17,772 12,890 46,787 36,567
Noninterest income:        
Service charges on deposit accounts $ 508 $ 403 $ 1,433 $ 1,101
Revenue, Product and Service [Extensible Enumeration] Deposit Account [Member] Deposit Account [Member] Deposit Account [Member] Deposit Account [Member]
Swap fees $ 11 $ 101 $ 48 $ 938
SBA/USDA fees 95 130 575 3,434
Mortgage origination fees 218 393 717 1,196
Net gain (loss) on securities (143) 189 (546) (17)
Other operating income 650 1,293 1,847 2,399
Total noninterest income 1,339 2,509 4,074 9,051
Noninterest expenses:        
Salaries and employee benefits 6,152 5,517 17,859 16,104
Equipment and occupancy expenses 764 908 2,188 2,697
Data processing fees 599 524 1,733 1,565
Regulatory assessments 235 248 760 689
Other operating expenses 2,487 1,988 6,638 5,768
Total noninterest expenses 10,237 9,185 29,178 26,823
Income before income taxes 8,874 6,214 21,683 18,795
Income tax expense 2,174 1,293 5,204 4,287
Net Income $ 6,700 $ 4,921 $ 16,479 $ 14,508
Basic earnings per share (in dollars per share) $ 0.77 $ 0.59 $ 1.87 $ 1.84
Dilutive earnings per share (in dollars per share) $ 0.75 $ 0.58 $ 1.84 $ 1.82