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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 25,924 $ 15,484 $ 71,458 $ 44,231
Interest and dividends on investment securities:        
Taxable 3,186 1,318 7,562 3,343
Interest on deposits with other banks 1,466 97 2,546 199
Total interest income 30,576 16,899 81,566 47,773
INTEREST EXPENSE        
Interest on deposits 2,561 949 5,429 3,189
Interest on short-term borrowings   2 2 5
Interest on long-term borrowings 700 359 1,776 1,088
Total interest expense 3,261 1,310 7,207 4,282
NET INTEREST INCOME 27,315 15,589 74,359 43,491
Provision for credit losses 675 290 1,475 1,365
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 26,640 15,299 72,884 42,126
NONINTEREST INCOME        
Service charges on deposit accounts 1,509 805 4,306 2,162
Trust and investment fee income 421 477 1,383 1,359
Gains on sales and calls of investment securities   2   2
Interchange credits 1,241 1,016 3,532 2,922
Mortgage-banking revenue 680   3,643  
Title Company revenue 397   1,146  
Other noninterest income 1,096 609 3,214 1,924
Total noninterest income 5,344 2,909 17,224 8,369
NONINTEREST EXPENSE        
Salaries and wages 8,562 5,091 27,022 13,495
Employee benefits 2,191 1,654 7,122 4,991
Occupancy expense 1,496 843 4,548 2,427
Furniture and equipment expense 533 449 1,370 1,168
Data processing 1,759 1,170 5,034 3,514
Directors' fees 217 147 617 450
Amortization of other intangible assets 499 107 1,528 353
FDIC insurance premium expense 339 245 1,111 653
Other real estate owned expenses, net 1 4 52 6
Legal and professional fees 756 428 2,204 1,592
Merger-related expenses 159 538 1,130 915
Other noninterest expenses 2,387 1,259 7,585 3,745
Total noninterest expense 18,899 11,935 59,323 33,309
Income before income taxes 13,085 6,273 30,785 17,186
Income tax expense 3,427 1,657 8,016 4,541
NET INCOME $ 9,658 $ 4,616 $ 22,769 $ 12,645
Earnings per common share - Basic and diluted        
Basic net income per common share $ 0.49 $ 0.39 $ 1.15 $ 1.08
Diluted net income per common share 0.49 0.39 1.15 1.08
Dividends paid per common share $ 0.12 $ 0.12 $ 0.36 $ 0.36