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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:    
Loans and loans held for sale $ 39,556 $ 30,695
Investment securities 5,073 4,588
Other interest-earning assets 2,208 181
Total interest and dividend income 46,837 35,464
Interest expense:    
Deposits 5,987 600
Borrowed funds 12 13
Subordinated debt 867 818
Total interest expense 6,866 1,431
Net interest income 39,971 34,033
Provision for credit losses 2,736 530
Net interest income after provision for credit losses 37,235 33,503
Non-interest income:    
Wealth management fees 1,587 1,729
Deposit and interchange fees 2,048 1,802
Income on bank-owned life insurance, net 307 295
Net gains on sales of debt securities 0 1,062
Net gains on sales of loans 14 22
Loss on equity securities (16) (67)
Other income 817 752
Total non-interest income 4,757 5,595
Non-interest expense:    
Salaries and employee benefits 18,521 16,792
Occupancy and equipment expenses 2,501 2,415
Technology and telecommunications expenses 2,675 2,636
Advertising and public relations expenses 681 667
Audit, legal and other professional fees 640 710
Deposit insurance premiums 675 556
Supplies and postage expenses 255 220
Other operating expenses 2,092 1,761
Total non-interest expense 28,040 25,757
Income before income taxes 13,952 13,341
Provision for income taxes 3,184 3,054
Net income $ 10,768 $ 10,287
Basic earnings per share (in dollars per share) $ 0.89 $ 0.85
Diluted earnings per share (in dollars per share) $ 0.88 $ 0.85
Basic weighted average common shares outstanding (in shares) 12,155,320 12,055,991
Diluted weighted average common shares outstanding (in shares) 12,193,756 12,119,836