XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 31,164 $ 23,522 $ 57,846 $ 48,720
Investment securities available-for-sale 894 261 1,170 513
Federal funds sold and deposits in other banks 451 148 677 323
Total interest income 32,509 23,931 59,693 49,556
Interest expense:        
Deposit accounts 3,443 2,213 5,287 4,590
FHLB advances and notes payable 1,328 504 1,458 1,034
Total interest expense 4,771 2,717 6,745 5,624
Net interest income 27,738 21,214 52,948 43,932
Provision for loan losses 3,350   7,350 1,500
Net interest income after provision for loan losses 24,388 21,214 45,598 42,432
Noninterest income:        
Service charges and fees 617 770 1,236 1,242
Earnings on bank-owned life insurance 248 148 391 276
Derivative fees 123   829  
Other 278 191 476 341
Total noninterest income 1,266 1,109 2,932 1,859
Noninterest expense:        
Salaries and employee benefits 13,994 12,512 27,318 22,475
Data processing and network expense 932 820 1,854 1,430
Occupancy and equipment expense 1,830 1,195 3,703 2,391
Legal and professional 2,001 1,564 3,747 2,679
Loan operations and other real estate owned expense 282 170 560 1,193
Advertising and marketing expenses 467 406 894 810
Telephone and communications 99 168 199 361
Software purchases and maintenance 201 192 399 343
Regulatory assessments 956 294 1,601 343
Loss (gain) on sale of other real estate owned 350 (31) 350 344
Other 1,661 489 2,329 928
Total noninterest expense 22,773 17,779 42,954 33,297
Net income before income tax expense 2,881 4,544 5,576 10,994
Income tax expense 604 955 1,212 2,309
Net income $ 2,277 $ 3,589 $ 4,364 $ 8,685
Earnings per common share:        
Basic earnings per share $ 0.17 $ 0.57 $ 0.33 $ 1.38
Diluted earnings per share $ 0.16 $ 0.55 $ 0.32 $ 1.35