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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans $ 23,574 $ 22,472
Federal funds sold 2,334 1,760
Investment securities 1,474 1,307
Total interest income 27,382 25,539
Interest expense    
Deposits 9,096 6,022
Borrowings and subordinated debt 571 760
Total interest expense 9,667 6,782
Net interest income 17,715 18,757
Provision for credit losses 126 358
Net interest income after provision for credit losses 17,589 18,399
Non-interest income    
Service charges and other fees 1,379 863
Other 326 244
Total non-interest income 1,705 1,107
Non-interest expense    
Salaries and benefits 8,852 7,876
Premises and equipment 1,452 1,180
Merger related expenses 1,024 0
Professional fees 443 450
Data processing 432 608
Other 1,501 1,729
Total non-interest expense 13,704 11,843
Income before provision for income taxes 5,590 7,663
Provision for income taxes 1,773 2,212
Net income $ 3,817 $ 5,451
Earnings per common share    
Basic $ 0.45 $ 0.65
Diluted $ 0.45 $ 0.64
Average common shares outstanding 8,413,735 8,339,080
Average common and equivalent shares outstanding 8,566,712 8,492,067