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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:        
Loans, including fees $ 38,870 $ 36,207 $ 110,509 $ 103,482
Securities, taxable 5,874 2,320 13,725 5,992
Securities, exempt from Federal tax 260 382 828 1,215
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 5,170 998 8,574 2,611
Total interest income 50,174 39,907 133,636 113,300
Interest expense:        
Deposits 1,595 1,141 3,855 3,552
Subordinated debt 538 584 1,640 1,732
Total interest expense 2,133 1,725 5,495 5,284
Net interest income before provision for credit losses on loans 48,041 38,182 128,141 108,016
Provision for (recapture of) credit losses on loans 1,006 (514) 258 (2,519)
Net interest income after provision for credit losses on loans 47,035 38,696 127,883 110,535
Noninterest income:        
Service charges and fees on deposit accounts 1,360 584 2,839 1,844
Increase in cash surrender value of life insurance 484 470 1,444 1,384
Gain on sales of SBA loans 308 594 491 1,227
Servicing income 125 129 370 415
Gain on warrants 32 13 669 11
Termination fees 16 32 61 179
Gain on proceeds from company-owned life insurance   109 27 571
Other 456 477 1,438 1,247
Total noninterest income 2,781 2,408 7,339 6,878
Noninterest expense:        
Salaries and employee benefits 14,119 12,461 41,416 38,991
Occupancy and equipment 2,415 2,151 7,129 6,672
Professional fees 1,230 1,211 3,601 4,701
Other 6,135 6,008 18,195 20,486
Total noninterest expense 23,899 21,831 70,341 70,850
Income before income taxes 25,917 19,273 64,881 46,563
Income tax expense 7,848 5,555 19,125 12,828
Net income $ 18,069 $ 13,718 $ 45,756 $ 33,735
Earnings per common share:        
Basic (in dollars per share) $ 0.30 $ 0.23 $ 0.76 $ 0.56
Diluted (in dollars per share) $ 0.30 $ 0.23 $ 0.75 $ 0.56
Service charges and fees on deposit accounts        
Noninterest income:        
Revenue, Product and Service [Extensible List] Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts