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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Loans, including fees $ 24,119 $ 18,766 $ 66,962 $ 50,637
Debt securities:        
U.S. Treasury and government agencies 1,049 924 3,107 2,532
Municipalities 373 284 995 881
Dividends 93 44 192 125
Federal funds sold   10 19 21
Other 213 94 382 221
Total interest income 25,847 20,122 71,657 54,417
Interest Expense        
Deposits 2,166 1,221 4,905 3,837
Federal funds purchased and securities sold under agreements to repurchase 416 165 734 494
Borrowed funds 398 87 951 424
Subordinated notes 284 199 837 199
Total interest expense 3,264 1,672 7,427 4,954
Net Interest Income - Before Provision for Loan Losses 22,583 18,450 64,230 49,463
Provision for Loan Losses 1,637 659 3,845 3,000
Net Interest Income After Provision for Loan Losses 20,946 17,791 60,385 46,463
Noninterest Income        
Net gain on sale of loans 327 822 1,188 2,823
Net gain on sale of available-for-sale securities       293
Total noninterest income 3,732 4,074 11,395 13,092
Noninterest Expense        
Salaries and wages 5,479 5,442 16,347 14,423
Employee benefits 1,392 1,621 4,992 5,530
Net occupancy expense 693 529 1,813 1,652
Furniture and equipment 1,047 903 3,111 2,542
Data processing 781 1,548 2,039 2,481
Franchise taxes 254 372 1,429 1,112
ATM expense 580 460 1,656 1,368
Advertising 578 439 1,115 1,005
Net (gain) loss on sale of other assets owned   219 (271) 421
FDIC assessment 271 296 655 808
Mortgage servicing rights amortization - net (50) 285 35 1,314
Consulting fees 254 256 665 873
Other general and administrative 2,192 1,951 6,613 6,211
Total noninterest expense 13,471 14,321 40,199 39,740
Income Before Income Taxes 11,207 7,544 31,581 19,815
Income Taxes 2,253 1,624 6,254 4,003
Net Income $ 8,954 $ 5,920 $ 25,327 $ 15,812
Basic Earnings Per Share $ 0.68 $ 0.53 $ 1.94 $ 1.41
Diluted Earnings Per Share 0.68 0.53 1.94 1.41
Dividends Declared $ 0.2100 $ 0.1800 $ 0.6025 $ 0.5200
Customer Service Fees [Member]        
Noninterest Income        
Noninterest income $ 2,300 $ 2,242 $ 7,096 $ 7,254
Other Service Charges and Fees [Member]        
Noninterest Income        
Noninterest income $ 1,105 $ 1,010 $ 3,111 $ 2,722