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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
INTEREST INCOME    
Interest-bearing deposits $ 2,033 $ 1,724
FHLB stock 789 1,369
Securities:    
Taxable 7,312 7,271
Tax-exempt 70 72
Total securities 7,382 7,343
Loans:    
SBA loans 4,857 5,489
SBA PPP loans 30 137
Commercial loans 87,773 76,966
Residential mortgage loans 37,770 34,194
Consumer loans 5,607 5,742
Residential construction loans 9,497 10,530
Total loans 145,534 133,058
Total interest income 155,738 143,494
INTEREST EXPENSE    
Interest-bearing demand deposits 7,176 5,227
Savings deposits 13,006 9,175
Brokered deposits 8,412 7,916
Time deposits 22,918 11,567
Borrowed funds and subordinated debentures 5,615 14,612
Total interest expense 57,127 48,497
Net interest income 98,611 94,997
Provision for credit losses, loans 2,407 1,832
Provision for credit losses, off-balance sheet 1 53
Provision for credit losses, AFS securities 1,541 1,283
Net interest income after provision for credit losses 94,662 91,829
NONINTEREST INCOME    
Gain on sale of SBA loans held for sale, net 660 1,299
Gain on sale of mortgage loans, net 1,488 1,546
BOLI income 544 852
Net securities gains 586 7
Other income 1,635 1,513
Total noninterest income 8,469 8,142
NONINTEREST EXPENSE    
Compensation and benefits 29,749 29,051
Processing and communications 3,473 2,994
Occupancy 3,184 3,087
Furniture and equipment 3,140 2,780
Professional services 1,683 1,563
Advertising 1,611 1,436
Loan related expenses 1,138 918
Deposit insurance 1,100 1,715
Director fees 956 847
Other expenses 2,707 2,585
Total noninterest expense 48,741 46,976
Income before provision for income taxes 54,390 52,995
Provision for income taxes 12,940 13,288
Net income $ 41,450 $ 39,707
Net income per common share - Basic $ 4.13 $ 3.89
Net income per common share - Diluted $ 4.06 $ 3.84
Weighted average common shares outstanding - Basic 10,031 10,207
Weighted average common shares outstanding - Diluted 10,202 10,338
Branch fee income    
NONINTEREST INCOME    
Noninterest income $ 1,391 $ 997
Service and loan fee income    
NONINTEREST INCOME    
Noninterest income $ 2,165 $ 1,928