XML 18 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Loans, including fees $ 129,344 $ 94,264 $ 71,645
Debt securities:      
U.S. Treasury and government agencies 4,090 4,225 3,496
Municipalities 1,598 1,415 1,170
Dividends 882 318 174
Federal funds sold 44 21 31
Other 3,850 906 324
Total interest income 139,808 101,149 76,840
Interest Expense      
Deposits 46,923 9,883 5,418
Federal funds purchased and securities sold under agreements to repurchase 1,474 1,197 649
Borrowed funds 8,876 2,160 785
Subordinated notes 1,138 1,122 490
Total interest expense 58,411 14,362 7,342
Net Interest Income - Before Provision for Credit Losses* 81,397 86,787 69,498
Provision for Credit Losses - Loans* 1,698 4,600 3,444
Provision for Credit Losses - Off Balance Sheet Credit Exposures* 46    
Net Interest Income After Provision for Credit Losses 79,653 82,187 66,054
Noninterest Income      
Net gain on sale of loans 699 1,353 3,897
Net gain (loss) on sale of available-for-sale securities (891)   293
Total noninterest income 16,040 15,537 17,609
Noninterest Expense      
Salaries and wages 26,915 22,700 20,184
Employee benefits 7,520 6,903 7,322
Net occupancy expense 3,833 2,566 2,184
Furniture and equipment 5,022 4,207 3,324
Data processing 3,147 3,956 3,501
Franchise taxes 1,487 1,384 1,473
ATM expense 2,611 2,217 1,846
Advertising 2,606 1,646 1,436
Net (gain) loss on sale of other assets owned 135 (259) 434
FDIC assessment 1,982 905 1,073
Servicing rights amortization - net 611 145 1,580
Consulting fees 832 1,302 1,634
Other general and administrative 10,638 9,577 8,175
Total noninterest expense 67,339 57,249 54,166
Income Before Income Taxes 28,354 40,475 29,497
Income Taxes 5,567 7,960 6,002
Net Income $ 22,787 $ 32,515 $ 23,495
Basic Earnings Per Share $ 1.67 $ 2.46 $ 2.01
Diluted Earnings Per Share 1.67 2.46 2.01
Dividends Declared $ 0.85 $ 0.8125 $ 0.71
Customer Service Fees [Member]      
Noninterest Income      
Noninterest income $ 9,592 $ 9,958 $ 9,671
Other Service Charges and Fees [Member]      
Noninterest Income      
Noninterest income $ 6,640 $ 4,226 $ 3,748