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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income        
Loans, including fees $ 49,972 $ 44,946 $ 97,618 $ 89,430
Taxable securities 3,751 3,070 7,306 6,004
Tax-exempt securities 2,338 2,372 4,678 4,747
Deposits in other banks 210 205 402 540
Total interest and dividend income 56,271 50,593 110,004 100,721
Interest expense        
Deposits 15,558 15,505 31,274 31,492
Federal Home Loan Bank advances 4,611 6,090 8,549 10,618
Subordinated debentures 1,165 1,247 2,326 2,488
Other borrowings 123 0 268 0
Total interest expense 21,457 22,842 42,417 44,598
Net interest income 34,814 27,751 67,587 56,123
Provision for credit losses - loans 1,171 1,800 2,419 3,842
Provision for (recovery of) credit losses - off-balance sheet credit exposures (146) (145) 173 (195)
Net interest income after provision 33,789 26,096 64,995 52,476
Noninterest income        
Service charges 1,564 1,488 3,088 2,928
Net gain (loss) on equity securities (74) 74 (103) (67)
Net gain on sale of loans and leases 841 888 1,445 1,751
ATM/Interchange fees 1,418 1,416 2,744 2,799
Wealth management fees 1,325 1,337 2,665 2,613
Lease revenue and residual income 525 3,529 2,421 5,203
Bank owned life insurance 386 367 773 717
Swap fees 53 65 125 122
Other 551 1,213 1,291 2,568
Total noninterest income 6,589 10,377 14,449 18,634
Noninterest expense        
Compensation expense 15,011 15,740 29,054 31,197
Net occupancy expense 1,419 1,298 3,053 2,666
Contracted data processing 536 559 1,103 1,104
FDIC Assessment 689 548 1,562 1,032
State franchise tax 634 479 1,160 964
Professional services 1,798 1,249 3,888 2,398
Equipment expense/depreciation 1,764 2,434 3,867 4,969
ATM/Interchange expense 683 632 1,263 1,257
Marketing 289 445 585 924
Amortization of core deposit intangible assets 338 366 670 757
Software maintenance expense 1,294 1,176 2,571 2,365
Other operating expenses 3,027 3,463 5,832 6,198
Total noninterest expense 27,482 28,389 54,608 55,831
Income before taxes 12,896 8,084 24,836 15,279
Income tax expense 1,881 1,020 3,653 1,855
Net Income $ 11,015 $ 7,064 $ 21,183 $ 13,424
Earnings per common share, basic $ 0.71 $ 0.45 $ 1.37 $ 0.85
Earnings per common share, diluted $ 0.71 $ 0.45 $ 1.37 $ 0.85