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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME      
Interest and fees on loans $ 82,864 $ 62,448 $ 51,829
Interest on available-for-sale debt securities 3,351 1,085 1,177
Other interest income 1,997 625 650
Total interest income 88,212 64,158 53,656
Interest expense      
Interest on deposits 11,210 3,132 8,292
Interest on borrowings 91 0 0
Total interest expense 11,301 3,132 8,292
Net interest income 76,911 61,026 45,364
Provision for loan losses 2,976 522 5,961
Net interest income after provision for loan losses 73,935 60,504 39,403
NONINTEREST INCOME      
Service charges on deposits 1,675 1,562 1,431
Loan servicing fees, net of amortization 2,416 1,953 1,856
Gain on sale of loans 12,285 11,313 6,092
Other income 1,243 1,189 1,392
Total noninterest income 17,619 16,017 10,771
NONINTEREST EXPENSE      
Salaries and employee benefits 27,189 21,253 20,041
Occupancy and equipment 5,964 5,213 4,974
Data processing and communication 2,085 2,000 1,682
Professional fees 1,620 1,192 1,101
FDIC insurance and regulatory assessments 813 583 449
Promotion and advertising 543 684 467
Directors’ fees 682 593 700
Foundation donation and other contributions 3,393 2,890 1,335
Other expenses 2,541 1,457 1,191
Total noninterest expense 44,830 35,865 31,940
INCOME BEFORE INCOME TAX EXPENSE 46,724 40,656 18,234
Income tax expense 13,414 11,816 5,107
NET INCOME $ 33,310 $ 28,840 $ 13,127
EARNINGS PER SHARE - BASIC (in dollars per share) $ 2.15 $ 1.89 $ 0.85
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 2.14 $ 1.88 $ 0.85