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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:        
Interest and fees on taxable loans $ 30,653 $ 26,954 $ 83,304 $ 84,453
Interest and fees on tax-exempt loans 605 426 1,573 1,290
Interest and dividends on taxable investment securities 14,304 8,128 41,749 21,273
Interest and dividends on tax-exempt investment securities 392 89 875 242
Interest on federal funds sold and other interest-earning assets 54 181 179 294
Total interest income 46,008 35,778 127,680 107,552
Interest expense:        
Demand- interest bearing 4,798 3,165 9,536 9,706
Money market and savings 845 837 2,419 2,888
Time deposits 139 281 607 1,245
Other borrowings 2,227 53 2,579 200
Total interest expense 8,009 4,336 15,141 14,039
Net interest income 37,999 31,442 112,539 93,513
Provision for credit losses 3,998 900 4,756 3,900
Net interest income after provision for credit losses 34,001 30,542 107,783 89,613
Non-interest income:        
Non-interest income 4,131 3,333 8,948 11,127
Gain on sales of SBA loans 502 641 1,713 2,035
Net (loss) gain on sale or call of investment securities (46) 0 (46) 2
Other non-interest income 463 50 (1,295) 624
Total non-interest income 5,742 7,317 14,962 25,272
Non-interest expenses:        
Salaries and employee benefits 16,276 14,640 47,157 44,216
Occupancy 3,982 3,630 11,382 11,238
Depreciation and amortization 2,193 2,059 6,455 6,368
Legal 3,617 265 10,943 776
Other real estate owned 317 119 409 710
Appraisal and other loan expenses 428 410 815 1,669
Advertising 231 192 675 482
Data processing 1,574 2,472 5,609 5,991
Insurance 179 304 660 938
Professional fees 1,875 800 3,895 2,371
Debit card processing 991 743 2,723 2,527
Regulatory assessments and costs 1,101 904 3,290 2,511
Taxes, other 757 978 2,071 2,083
Other operating expenses 4,193 2,259 11,075 7,760
Total non-interest expense 37,714 29,775 107,159 89,640
Income before provision for income taxes 2,029 8,084 15,586 25,245
Provision for income taxes 476 1,988 3,805 6,147
Net income 1,553 6,096 11,781 19,098
Preferred stock dividends 644 875 2,154 2,625
Net income available to common shareholders $ 909 $ 5,221 $ 9,627 $ 16,473
Net income per share        
Basic earnings per common share (in dollars per share) $ 0.01 $ 0.09 $ 0.15 $ 0.28
Diluted earnings per common share (in dollars per share) $ 0.01 $ 0.08 $ 0.14 $ 0.25
Loan and Servicing Fees [Member]        
Non-interest income:        
Non-interest income $ 311 $ 946 $ 1,500 $ 2,239
Mortgage Banking [Member]        
Non-interest income:        
Non-interest income 844 2,397 2,847 9,869
Deposit Account [Member]        
Non-interest income:        
Non-interest income $ 3,668 $ 3,283 $ 10,243 $ 10,503