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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME      
Interest and fees on loans $ 110,463 $ 82,864 $ 62,448
Interest on available-for-sale debt securities 6,131 3,351 1,085
Other interest income 5,071 1,997 625
Total interest income 121,665 88,212 64,158
Interest expense      
Interest on deposits 49,435 11,210 3,132
Interest on borrowings 3,543 91 0
Total interest expense 52,978 11,301 3,132
Net interest income 68,687 76,911 61,026
Provision for credit losses 1,651 2,976 522
Net interest income after provision for credit losses 67,036 73,935 60,504
NONINTEREST INCOME      
Service charges on deposits 2,123 1,675 1,562
Loan servicing fees, net of amortization 2,449 2,416 1,953
Gain on sale of loans 7,843 12,285 11,313
Other income 1,766 1,243 1,189
Total noninterest income 14,181 17,619 16,017
NONINTEREST EXPENSE      
Salaries and employee benefits 29,593 27,189 21,253
Occupancy and equipment 6,490 5,964 5,213
Data processing and communication 2,109 2,085 2,000
Professional fees 1,571 1,620 1,192
FDIC insurance and regulatory assessments 1,457 813 583
Promotion and advertising 614 543 684
Directors’ fees 680 682 593
Foundation donation and other contributions 2,400 3,393 2,890
Other expenses 2,812 2,541 1,457
Total noninterest expense 47,726 44,830 35,865
INCOME BEFORE INCOME TAX EXPENSE 33,491 46,724 40,656
Income tax expense 9,573 13,414 11,816
Net income $ 23,918 $ 33,310 $ 28,840
EARNINGS PER SHARE - BASIC (USD per share) $ 1.55 $ 2.15 $ 1.89
EARNINGS PER SHARE - DILUTED (USD per share) $ 1.55 $ 2.14 $ 1.88