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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:        
Loans and leases, including fees $ 45,446 $ 31,530 $ 90,173 $ 61,172
Securities:        
Taxable 4,335 2,908 7,986 5,327
Tax-exempt 357 441 709 809
Federal funds sold and other earning assets 1,956 1,430 6,405 1,916
Total interest income 52,094 36,309 105,273 69,224
Interest expense:        
Deposits 19,554 2,504 35,900 4,518
Borrowings 339 117 564 274
Subordinated debt 626 626 1,252 1,252
Total interest expense 20,519 3,247 37,716 6,044
Net interest income 31,575 33,062 67,557 63,180
Provision for credit losses   1,250   2,256
Provision for credit losses, post ASU 2019-04 113   663  
Net interest income after provision for credit losses 31,462 31,812 66,894 60,924
Noninterest income:        
Service charges on deposit accounts 1,657 1,446 3,102 2,765
Mortgage banking 332 471 504 1,305
Investment services 1,300 1,065 2,305 2,135
Insurance commissions 1,139 598 2,398 1,499
Interchange and debit card transaction fees, net 1,347 1,467 2,730 2,751
Other 1,355 2,182 3,016 3,885
Total noninterest income 7,130 7,229 14,055 14,340
Noninterest expense:        
Salaries and employee benefits 15,947 15,673 32,689 30,719
Occupancy and equipment 3,318 2,793 6,526 5,852
FDIC insurance 875 676 1,416 1,317
Other real estate and loan related expense 441 636 1,013 1,365
Advertising and marketing 305 327 660 697
Data processing and technology 2,235 1,728 4,398 3,314
Professional services 764 745 1,572 1,987
Amortization of intangibles 675 633 1,334 1,270
Merger related and restructuring expenses   81   520
Other 2,850 2,634 5,331 4,602
Total noninterest expense 27,410 25,926 54,939 51,643
Income before income tax expense 11,182 13,115 26,010 23,621
Income tax expense 2,346 2,900 5,674 5,146
Net income $ 8,836 $ 10,215 $ 20,336 $ 18,475
Earnings per common share:        
Basic (in dollars per share) $ 0.53 $ 0.61 $ 1.21 $ 1.11
Diluted (in dollars per share) $ 0.52 $ 0.61 $ 1.20 $ 1.10
Weighted average common shares outstanding:        
Basic (in shares) 16,806,389 16,734,930 16,798,939 16,726,696
Diluted (in shares) 16,898,091 16,867,774 16,897,444 16,863,299