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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 23,452 $ 14,381 $ 45,537 $ 28,747
Interest and dividends on investment securities:        
Taxable 2,392 1,095 4,377 2,025
Interest on deposits with other banks 826 55 1,080 102
Total interest income 26,670 15,531 50,994 30,874
INTEREST EXPENSE        
Interest on deposits 1,511 1,056 2,869 2,240
Interest on short-term borrowings   2 2 3
Interest on long-term borrowings 541 370 1,075 729
Total interest expense 2,052 1,428 3,946 2,972
NET INTEREST INCOME 24,618 14,103 47,048 27,902
Provision for credit losses 200 650 800 1,075
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 24,418 13,453 46,248 26,827
NONINTEREST INCOME        
Service charges on deposit accounts 1,438 683 2,797 1,357
Trust and investment fee income 447 475 961 882
Interchange credits 1,253 1,036 2,291 1,906
Mortgage-banking revenue 1,096   2,963  
Title Company revenue 426   749  
Other noninterest income 1,173 709 2,118 1,315
Total noninterest income 5,833 2,903 11,879 5,460
NONINTEREST EXPENSE        
Salaries and wages 8,898 4,262 18,460 8,404
Employee benefits 2,269 1,493 4,931 3,337
Occupancy expense 1,485 770 3,052 1,584
Furniture and equipment expense 411 412 840 719
Data processing 1,668 1,217 3,275 2,344
Directors' fees 210 154 400 303
Amortization of other intangible assets 511 120 1,028 246
FDIC insurance premium expense 429 223 772 408
Other real estate owned expenses, net 57 1 51 2
Legal and professional fees 811 648 1,448 1,164
Merger-related expenses 241 377 971 377
Other noninterest expenses 3,104 1,199 5,198 2,486
Total noninterest expense 20,094 10,876 40,426 21,374
Income before income taxes 10,157 5,480 17,701 10,913
Income tax expense 2,658 1,449 4,589 2,884
NET INCOME $ 7,499 $ 4,031 $ 13,112 $ 8,029
Earnings per common share - Basic and diluted        
Basic net income per common share $ 0.38 $ 0.34 $ 0.66 $ 0.68
Diluted net income per common share 0.38 0.34 0.66 0.68
Dividends paid per common share $ 0.12 $ 0.12 $ 0.24 $ 0.24