XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 31,885 $ 28,250 $ 92,632 $ 81,549
Interest on available-for-sale debt securities 1,626 1,519 4,676 4,647
Other interest income 1,788 1,417 5,261 3,686
Total interest income 35,299 31,186 102,569 89,882
Interest expense        
Interest on deposits 17,921 13,006 50,939 35,308
Interest on borrowings 872 867 2,951 2,117
Total interest expense 18,793 13,873 53,890 37,425
Net interest income 16,506 17,313 48,679 52,457
Provision for credit losses 448 1,359 1,210 1,021
Net interest income after provision for credit losses 16,058 15,954 47,469 51,436
NONINTEREST INCOME        
Service charges on deposits 889 575 2,294 1,566
Loan servicing fees, net of amortization 693 468 2,040 1,909
Gain on sale of loans 2,088 1,179 6,116 5,847
Other income 570 379 1,560 1,179
Total noninterest income 4,240 2,601 12,010 10,501
NONINTEREST EXPENSE        
Salaries and employee benefits 8,031 7,014 23,440 21,947
Occupancy and equipment 1,676 1,706 4,991 4,874
Data processing and communication 634 369 1,651 1,465
Professional fees 346 440 1,147 1,180
FDIC insurance and regulatory assessments 391 333 1,143 1,220
Promotion and advertising 151 207 451 528
Directors’ fees 154 164 489 535
Foundation donation and other contributions 549 529 1,628 1,876
Other expenses 788 773 2,126 2,118
Total noninterest expense 12,720 11,535 37,066 35,743
INCOME BEFORE INCOME TAX EXPENSE 7,578 7,020 22,413 26,194
Income tax expense 2,142 1,899 6,315 7,448
NET INCOME $ 5,436 $ 5,121 $ 16,098 $ 18,746
EARNINGS PER SHARE - BASIC (USD per share) $ 0.36 $ 0.33 $ 1.06 $ 1.21
EARNINGS PER SHARE - DILUTED (USD per share) $ 0.36 $ 0.33 $ 1.06 $ 1.21