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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        
Interest and fees on loans $ 19,108 $ 14,971 $ 36,365 $ 28,255
Interest on available-for-sale debt securities 703 218 1,233 454
Other interest income 337 160 494 272
Total interest income 20,148 15,349 38,092 28,981
Interest expense        
Interest on deposits 1,069 763 1,723 1,640
Total interest expense 1,069 763 1,723 1,640
Net interest income 19,079 14,586 36,369 27,341
Provision for (reversal of) loan losses 996 (1,112) 1,337 (492)
Net interest income after provision for loan losses 18,083 15,698 35,032 27,833
NONINTEREST INCOME        
Service charges on deposits 427 393 815 748
Loan servicing fees, net of amortization 654 302 1,101 833
Gain on sale of loans 3,873 1,210 7,111 3,092
Other income 405 315 548 513
Total noninterest income 5,359 2,220 9,575 5,186
NONINTEREST EXPENSE        
Salaries and employee benefits 7,109 5,307 12,766 9,969
Occupancy and equipment 1,489 1,234 2,867 2,469
Data processing and communication 492 467 985 915
Professional fees 364 303 688 617
FDIC insurance and regulatory assessments 192 123 399 255
Promotion and advertising 165 176 354 353
Directors’ fees 190 128 367 244
Foundation donation and other contributions 852 640 1,667 1,147
Other expenses 650 411 1,072 786
Total noninterest expense 11,503 8,789 21,165 16,755
INCOME BEFORE INCOME TAX EXPENSE 11,939 9,129 23,442 16,264
Income tax expense 3,459 2,750 6,810 4,808
NET INCOME $ 8,480 $ 6,379 $ 16,632 $ 11,456
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.55 $ 0.42 $ 1.08 $ 0.75
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.54 $ 0.42 $ 1.07 $ 0.75