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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Interest and fees on loans $ 30,142 $ 26,011
Interest on available-for-sale debt securities 1,460 1,566
Other interest income 1,311 1,017
Total interest income 32,913 28,594
Interest expense    
Interest on deposits 15,675 10,382
Interest on borrowings 1,259 320
Total interest expense 16,934 10,702
Net interest income 15,979 17,892
Provision for (reversal of) credit losses 145 (338)
Net interest income after provision for credit losses 15,834 18,230
NONINTEREST INCOME    
Service charges on deposits 612 418
Loan servicing fees, net of amortization 772 846
Gain on sale of loans 1,703 2,570
Other income 499 461
Total noninterest income 3,586 4,295
NONINTEREST EXPENSE    
Salaries and employee benefits 7,841 7,252
Occupancy and equipment 1,655 1,570
Data processing and communication 487 550
Professional fees 395 359
FDIC insurance and regulatory assessments 374 467
Promotion and advertising 149 162
Directors’ fees 157 161
Foundation donation and other contributions 540 753
Other expenses 559 634
Total noninterest expense 12,157 11,908
INCOME BEFORE INCOME TAX EXPENSE 7,263 10,617
Income tax expense 2,037 3,083
NET INCOME $ 5,226 $ 7,534
EARNINGS PER SHARE - BASIC (USD per share) $ 0.34 $ 0.48
EARNINGS PER SHARE - DILUTED (USD per share) $ 0.34 $ 0.48