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Consolidated Statement of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME      
Loans, including fees $ 150,256 $ 118,776 $ 103,507
Investment securities:      
Taxable 11,952 2,602 2,884
Tax-exempt 1,497 1,122 1,008
Other interest-bearing balances 69 13 39
Federal funds sold 1,826 809 497
Total Interest Income 165,600 123,322 107,935
INTEREST EXPENSE      
Deposits 14,144 11,327 16,399
Short-term borrowings 441 539 371
Long-term and subordinated debt 3,182 2,888 2,957
Total Interest Expense 17,767 14,754 19,727
Net Interest Income 147,833 108,568 88,208
PROVISION FOR LOAN LOSSES 4,300 2,945 4,200
Net Interest Income After Provision for Loan Losses 143,533 105,623 84,008
NONINTEREST INCOME      
Net gain on sales of SBA loans 262 969 442
Earnings from cash surrender value of life insurance 1,013 358 301
Net gain on sales of investment activities 0 79 467
Other 7,793 3,576 2,558
Noninterest Income 23,657 21,533 17,908
NONINTEREST EXPENSE      
Salaries and employee benefits 52,601 41,711 37,758
Software licensing and utilization 7,524 6,332 5,286
Occupancy, net 6,900 5,527 5,505
Equipment 4,493 3,101 2,910
Shares tax 2,786 800 583
Legal and professional fees 2,761 1,979 1,665
ATM/card processing 2,139 1,053 819
Intangible amortization 2,012 1,180 1,398
FDIC Assessment 1,594 1,888 1,680
Charitable contributions qualifying for State tax credits 1,033 1,432 1,342
Mortgage banking profit-sharing 178 2,571 2,004
(Gain) loss on sale or write-down of foreclosed assets, net (133) (25) 333
Merger and acquisition 294 3,067 0
Post-acquisition restructuring 329 9,880 0
Other 15,332 10,609 9,294
Total Noninterest Expense 99,843 91,105 70,577
INCOME BEFORE PROVISION FOR INCOME TAXES 67,347 36,051 31,339
Provision for income taxes 12,541 6,732 5,130
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 54,806 $ 29,319 $ 26,209
PER COMMON SHARE DATA:      
Basic Earnings Per Common Share (in dollars per share) $ 3.44 $ 2.71 $ 3.11
Diluted earnings per common share (in dollars per share) $ 3.44 $ 2.71 $ 3.10
Weighted average shares outstanding (basic) (in shares) 15,912,877 10,806,009 8,439,427
Weighted average shares outstanding (diluted) (in shares) 15,934,635 10,819,579 8,443,092
Fiduciary and wealth management      
NONINTEREST INCOME      
Non-interest Income $ 5,071 $ 2,494 $ 1,694
ATM debit card interchange      
NONINTEREST INCOME      
Non-interest Income 4,362 2,688 1,960
Service charges on deposits      
NONINTEREST INCOME      
Non-interest Income 2,078 991 637
Mortgage banking      
NONINTEREST INCOME      
Non-interest Income 1,607 10,314 9,682
Mortgage hedging      
NONINTEREST INCOME      
Non-interest Income $ 1,471 $ 64 $ 167