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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Loans, including fees $ 57,154,000 $ 33,251,000
Securities, taxable 2,131,000 1,665,000
Securities, tax-exempt 876,000 600,000
Interest-earning deposits 324,000 366,000
Total interest income 60,485,000 35,882,000
Interest expense    
Deposits 7,907,000 1,825,000
Short-term borrowings 459,000 50,000
Federal Home Loan Bank advances 1,794,000 1,864,000
Subordinated debentures and other borrowings 1,941,000 1,258,000
Total interest expense 12,101,000 4,997,000
Net interest income 48,384,000 30,885,000
Provision for credit losses 600,000 100,000
Net interest income after provision for credit losses 47,784,000 30,785,000
Noninterest income:    
Mortgage banking income 1,216,000 3,281,000
Interest rate swap fees 1,037,000 1,351,000
Payroll processing 746,000 638,000
Earnings on bank owned life insurance 401,000 287,000
Other income 515,000 423,000
Total noninterest income 6,951,000 9,277,000
Noninterest expense    
Salaries and benefits 16,682,000 15,510,000
Occupancy 2,289,000 2,104,000
Furniture and equipment depreciation, rent and maintenance 822,000 934,000
Data processing costs 3,162,000 2,973,000
Other expense 5,644,000 4,221,000
Total noninterest expenses 28,599,000 25,742,000
Income before federal income tax expense 26,136,000 14,320,000
Federal income tax expense 5,162,000 2,828,000
Net income $ 20,974,000 $ 11,492,000
Basic earnings per share (in dollars per share) $ 1.31 $ 0.73
Diluted earnings per share (in dollars per share) $ 1.31 $ 0.73
Average basic shares outstanding (in shares) 15,996,138 15,840,801
Average diluted shares outstanding (in shares) 15,996,138 15,841,037
Service Charges on Deposit and Sweep Accounts [Member]    
Noninterest income:    
Noninterest revenue $ 976,000 $ 1,416,000
Credit and Debit Card [Member]    
Noninterest income:    
Noninterest revenue $ 2,060,000 $ 1,881,000