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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME      
Interest and fees on loans $ 124,361 $ 110,463 $ 82,864
Interest on available-for-sale debt securities 6,227 6,131 3,351
Other interest income 7,032 5,071 1,997
Total interest income 137,620 121,665 88,212
Interest expense      
Interest on deposits 68,121 49,435 11,210
Interest on borrowings 3,891 3,543 91
Total interest expense 72,012 52,978 11,301
Net interest income 65,608 68,687 76,911
Provision for credit losses 2,757 1,651 2,976
Net interest income after provision for credit losses 62,851 67,036 73,935
NONINTEREST INCOME      
Service charges on deposits 3,261 2,123 1,675
Loan servicing fees, net of amortization 2,898 2,449 2,416
Gain on sale of loans 8,313 7,843 12,285
Other income 1,955 1,766 1,243
Total noninterest income 16,427 14,181 17,619
NONINTEREST EXPENSE      
Salaries and employee benefits 31,717 29,593 27,189
Occupancy and equipment 6,673 6,490 5,964
Data processing and communication 2,245 2,109 2,085
Professional fees 1,535 1,571 1,620
FDIC insurance and regulatory assessments 1,672 1,457 813
Promotion and advertising 533 614 543
Directors’ fees 640 680 682
Foundation donation and other contributions 2,108 2,400 3,393
Other expenses 3,076 2,812 2,541
Total noninterest expense 50,199 47,726 44,830
INCOME BEFORE INCOME TAX EXPENSE 29,079 33,491 46,724
Income tax expense 8,010 9,573 13,414
NET INCOME $ 21,069 $ 23,918 $ 33,310
EARNINGS PER SHARE - BASIC (USD per share) $ 1.39 $ 1.55 $ 2.15
EARNINGS PER SHARE - DILUTED (USD per share) $ 1.39 $ 1.55 $ 2.14