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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Fee Revenue and Other Income:        
Fee revenues $ 31,584 $ 31,783 $ 95,945 $ 94,120
Other 1,562 1,264 4,158 3,624
Total fee revenue and other income 32,792 32,800 99,149 96,980
Interest Income:        
Interest and fees on loans 14,567 12,863 40,935 38,029
Interest and dividends on securities:        
Taxable 3,114 3,428 10,118 10,702
Exempt from federal income taxes 893 964 2,709 3,161
Interest on federal funds sold and other short-term investments 4,200 3,934 11,908 9,147
Total interest income 22,774 21,189 65,670 61,039
Interest Expense:        
Interest on deposits 5,155 4,641 15,645 11,463
Interest on short-term borrowings 1 0 1 116
Total interest expense 5,156 4,641 15,646 11,579
Net interest income 17,618 16,548 50,024 49,460
(Release of) provision for credit losses (140) 125 355 (335)
Net interest income after (release of) provision for credit losses 17,758 16,423 49,669 49,795
Total net revenue 50,550 49,223 148,818 146,775
Operating Expense:        
Personnel 29,867 29,636 90,331 89,094
Occupancy 890 908 2,577 2,670
Equipment 2,107 1,789 5,976 5,188
Bad debt expense 6,559 0 7,847 0
Amortization of intangible assets 183 195 556 585
Other operating expense 7,292 7,535 23,075 22,237
Total operating expense 46,898 40,063 130,362 119,774
Income before income tax expense 3,652 9,160 18,456 27,001
Income tax expense 714 1,766 3,882 5,352
Net income $ 2,938 $ 7,394 $ 14,574 $ 21,649
Basic earnings per share (in dollars per share) $ 0.22 $ 0.55 $ 1.08 $ 1.60
Diluted earnings per share (in dollars per share) $ 0.21 $ 0.54 $ 1.06 $ 1.56
Processing fees        
Fee Revenue and Other Income:        
Fee revenues $ 20,053 $ 19,939 $ 62,409 $ 58,838
Financial fees        
Fee Revenue and Other Income:        
Fee revenues $ 11,177 $ 11,597 $ 32,582 $ 34,518