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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME        
Interest and fees on loans $ 32,729 $ 23,452 $ 63,557 $ 45,537
Interest and dividends on investment securities:        
Interest and dividends on taxable investment securities 3,729 2,392 7,793 4,377
Interest and dividends on tax-exempt investment securities 5   12  
Interest on deposits with other banks 170 826 333 1,080
Total interest income 36,633 26,670 71,695 50,994
INTEREST EXPENSE        
Interest on deposits 9,914 1,511 17,195 2,869
Interest on short-term borrowings 3,449   4,810 2
Interest on long-term borrowings 776 541 1,532 1,075
Total interest expense 14,139 2,052 23,537 3,946
NET INTEREST INCOME 22,494 24,618 48,158 47,048
Provision for credit losses 667 200 1,880 800
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 21,827 24,418 46,278 46,248
NONINTEREST INCOME        
Service charges on deposit accounts 1,264 1,438 2,477 2,797
Trust and investment fee income 399 447 831 961
Interchange credits 1,311 1,253 2,523 2,291
Mortgage-banking revenue 1,054 1,096 2,031 2,963
Title Company revenue 186 426 323 749
Other noninterest income 1,080 1,173 2,443 2,118
Total noninterest income 5,294 5,833 10,628 11,879
NONINTEREST EXPENSE        
Salaries and wages 8,955 8,898 17,639 18,460
Employee benefits 2,440 2,269 5,361 4,931
Occupancy expense 1,599 1,485 3,218 3,052
Furniture and equipment expense 477 411 1,011 840
Data processing 1,739 1,668 3,537 3,275
Directors' fees 185 210 435 400
Amortization of other intangible assets 435 511 876 1,028
FDIC insurance premium expense 758 429 1,129 772
Other real estate owned expenses, net   57 (1) 51
Legal and professional fees 959 811 1,709 1,448
Merger-related expenses 1,197 241 1,888 971
Other noninterest expenses 2,864 3,104 5,699 5,198
Total noninterest expense 21,608 20,094 42,501 40,426
Income before income taxes 5,513 10,157 14,405 17,701
Income tax expense 1,495 2,658 3,930 4,589
NET INCOME $ 4,018 $ 7,499 $ 10,475 $ 13,112
Earnings per common share - Basic and diluted        
Basic net income per common share $ 0.20 $ 0.38 $ 0.53 $ 0.66
Diluted net income per common share 0.20 0.38 0.53 0.66
Dividends paid per common share $ 0.12 $ 0.12 $ 0.24 $ 0.24