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Consolidated Statements of Income (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Loans, including fees $ 73,087,000 $ 70,671,000
Investment securities available-for-sale 5,693,000 3,093,000
Federal funds sold and other 1,986,000 5,112,000
Total interest income 80,766,000 78,876,000
Interest expense:    
Deposit accounts 36,226,000 38,698,000
FHLB advances and other borrowings 1,743,000 2,099,000
Total interest expense 37,969,000 40,797,000
Net interest income 42,797,000 38,079,000
Provision for credit losses 450,000 1,560,000
Net interest income after provision for credit losses 42,347,000 36,519,000
Noninterest income:    
Service charges and fees 2,277,000 1,505,000
Earnings on bank-owned life insurance 677,000 582,000
(Loss) gain on sale of investment securities available-for-sale (228,000) 157,000
Gain on sales of SBA loans 30,000 30,000
Other 351,000 69,000
Total noninterest income 3,107,000 2,343,000
Noninterest expense:    
Salaries and employee benefits 18,341,000 16,502,000
Occupancy and equipment expense 3,282,000 3,045,000
Legal and professional 1,431,000 1,385,000
Data processing and network expense 1,120,000 1,418,000
Regulatory assessments 1,306,000 980,000
Advertising and marketing 409,000 355,000
Software purchases and maintenance 811,000 817,000
Loan operations 269,000 226,000
Telephone and communications 175,000 134,000
Other 964,000 1,052,000
Total noninterest expense 28,108,000 25,914,000
Net income before income tax expense 17,346,000 12,948,000
Income tax expense 3,757,000 2,581,000
Net income 13,589,000 10,367,000
Preferred stock dividends declared 1,171,000 1,171,000
Net income available to common shareholders $ 12,418,000 $ 9,196,000
Earnings per common share:    
Basic earnings per share $ 0.9 $ 0.68
Diluted earnings per share $ 0.78 $ 0.61