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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income    
Loans, including fees $ 44,484 $ 37,784
Taxable securities 2,934 2,834
Tax-exempt securities 2,375 2,262
Deposits in other banks 335 45
Total interest and dividend income 50,128 42,925
Interest expense    
Deposits 15,987 3,232
Federal Home Loan Bank advances 4,528 4,277
Subordinated debentures 1,241 1,169
Securities sold under agreements to repurchase and other   1,646
Total interest expense 21,756 10,324
Net interest income 28,372 32,601
Provision for credit losses - loans 2,042 620
Provision for credit losses - off-balance sheet credit exposures (50) 201
Net interest income after provision 26,380 31,780
Noninterest income    
Service charges 1,440 1,773
Net gain (loss) on equity securities (141) (68)
Net gain on sale of loans and leases 863 631
ATM/Interchange fees 1,383 1,353
Wealth management fees 1,276 1,193
Lease revenue and residual income 1,674 2,046
Bank owned life insurance 350 253
Tax refund processing fees   1,900
Swap fees 57 61
Other 1,602 1,926
Total noninterest income 8,504 11,068
Noninterest expense    
Compensation expense 15,457 15,105
Net occupancy expense 1,368 1,359
Equipment expense 2,535 2,761
Contracted data processing 545 520
FDIC assessment 484 248
State franchise tax 485 526
Professional services 1,149 1,555
Amortization of intangible assets 391 398
ATM/Interchange expense 625 580
Marketing 479 505
Software maintenance expense 1,189 878
Other operating expenses 2,982 2,997
Total noninterest expense 27,689 27,432
Income before taxes 7,195 15,416
Income tax expense 835 2,528
Net Income $ 6,360 $ 12,888
Earnings per common share, basic $ 0.41 $ 0.82
Earnings per common share, diluted $ 0.41 $ 0.82
Weighted average common shares, basic 15,134,619 15,179,210