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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME      
Interest and fees on loans $ 84,187 $ 62,888 $ 59,248
Interest and fees on loans held for sale 160 90 102
Interest on investment securities:      
Taxable 3,450 3,150 2,798
Nontaxable 2,489 2,439 1,660
Federal funds sold 2 6 8
Other interest-bearing deposits, and certificates of deposit in other banks 1,239 413 337
Dividends on other investments 441 270 301
Total interest income 91,968 69,256 64,454
Interest on deposits:      
Savings, interest checking and money market 16,796 5,009 1,113
Time deposit accounts $250,000 and over 4,317 1,059 575
Time deposits 4,569 1,034 1,446
Total interest expense on deposits 25,682 7,102 3,134
Interest on federal funds purchased and securities sold under agreements to repurchase 115 51 87
Interest on Federal Home Loan Bank advances 3,255 1,268 1,461
Interest on subordinated notes 3,774 2,072 1,227
Total interest expense on borrowings 7,144 3,391 2,775
Total interest expense 32,826 10,493 5,909
Net interest income 59,142 58,763 58,545
Provision for (release of) credit losses on loans and unfunded commitments [1] 2,340 (900) (1,700)
Net interest income after provision for (release of) credit losses on loans and unfunded commitments 56,802 59,663 60,245
NON-INTEREST INCOME      
Gain on sale of mortgage loans, net 2,560 2,661 7,165
(Losses) gains on other real estate owned, net (4,429) 289 (871)
Other 1,929 1,755 1,537
Total non-interest income 7,536 13,978 16,786
Investment securities (losses) gains, net (11,547) (14) 149
NON-INTEREST EXPENSE      
Salaries and employee benefits 28,971 27,058 27,657
Occupancy expense, net 3,247 3,175 3,075
Furniture and equipment expense 3,009 3,054 3,067
Processing, network, and bank card expense 5,151 4,788 4,751
Legal, examination, and professional fees 2,508 1,630 3,024
Advertising and promotion 1,487 1,494 1,227
Postage, printing, and supplies 846 878 838
Loan expense 941 576 823
Other 6,199 5,885 4,504
Total non-interest expense 52,359 48,538 48,966
Income before income taxes (benefit) 432 25,089 28,214
Income tax expense (benefit) (524) 4,338 5,697
Net income $ 956 $ 20,751 $ 22,517
Basic earnings per share (in dollars per share) $ 0.14 $ 2.94 $ 3.15
Diluted earnings per share (in dollars per share) $ 0.14 $ 2.94 $ 3.15
Service charges and other fees      
NON-INTEREST INCOME      
Income from fees $ 2,942 $ 3,002 $ 3,094
Bank card income and fees      
NON-INTEREST INCOME      
Income from fees 4,028 4,083 3,957
Trust department income      
NON-INTEREST INCOME      
Income from fees 1,090 1,184 1,324
Real estate servicing fees, net      
NON-INTEREST INCOME      
Income from fees $ (584) $ 1,004 $ 580
[1] Prior to adoption of ASU No 2016-13 on January 1, 2023, credit losses were estimated using the incurred loss approach.