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Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and fees on loans:        
Taxable $ 25,128 $ 21,276 $ 67,990 $ 62,205
Tax-exempt 1,338 1,024 3,717 2,859
Interest and dividends on investment securities:        
Taxable 2,096 1,285 6,176 3,804
Tax-exempt 521 432 1,546 1,233
Dividends   24 2 72
Interest on interest-bearing deposits in other banks 41 2 61 6
Interest on federal funds sold 106 124 201 228
Total interest income 29,230 24,167 79,693 70,407
Interest expense:        
Interest on deposits 3,316 1,698 6,381 5,731
Interest on short-term borrowings 457   579 78
Interest on long-term debt 16 41 67 225
Interest on subordinated debt 443 443 1,330 1,330
Total interest expense 4,232 2,182 8,357 7,364
Net interest income 24,998 21,985 71,336 63,043
Provision (credit) for loan losses 450 400 1,700  
Net interest income after provision (credit) for loan losses 24,548 21,585 69,636 63,043
Noninterest income:        
Mortgage banking income 135 244 407 764
Increase in cash surrender value of life insurance 269 225 731 669
Interest rate swap revenue 130 79 757 744
Net (losses) gains on equity investment securities (18) 5 (37) 9
Total noninterest income 3,317 3,449 10,619 10,353
Noninterest expense:        
Salaries and employee benefits expense 8,474 7,829 24,365 21,649
Net occupancy and equipment expense 3,898 3,150 11,673 9,464
Amortization of intangible assets 96 125 289 375
Net gain on sale of other real estate owned   (97) (478) (195)
Professional fees and outside services 664 629 1,900 1,645
FDIC insurance and assessments 324 305 969 836
Donations 373 366 1,038 1,084
Other expenses 2,106 1,840 5,961 5,376
Total noninterest expense 15,935 14,147 45,717 40,234
Income before income taxes 11,930 10,887 34,538 33,162
Income tax expense 1,962 1,791 5,587 6,057
Net income 9,968 9,096 28,951 27,105
Other comprehensive (loss) income:        
Unrealized loss on investment securities available-for-sale (21,510) (3,130) (72,791) (8,409)
Change in derivative fair value (46) (128) (740) (22)
Other comprehensive loss (21,556) (3,258) (73,531) (8,431)
Income tax benefit related to other comprehensive loss (4,527) (684) (15,442) (1,771)
Other comprehensive loss, net of income tax benefit (17,029) (2,574) (58,089) (6,660)
Comprehensive (loss) income $ (7,061) $ 6,522 $ (29,138) $ 20,445
Net income:        
Basic $ 1.39 $ 1.26 $ 4.04 $ 3.76
Diluted $ 1.38 $ 1.26 $ 4.01 $ 3.74
Average common shares outstanding:        
Basic 7,169,809 7,198,125 7,171,382 7,204,399
Diluted 7,213,147 7,233,189 7,214,966 7,239,463
Dividends declared $ 0.40 $ 0.38 $ 1.18 $ 1.12
Service charges, fees and commissions        
Noninterest income:        
Revenue from contracts with customers $ 1,714 $ 1,667 $ 5,167 $ 4,476
Merchant services income        
Noninterest income:        
Revenue from contracts with customers 157 158 833 759
Commission and fees on fiduciary activities        
Noninterest income:        
Revenue from contracts with customers 591 639 1,697 1,725
Wealth management income        
Noninterest income:        
Revenue from contracts with customers $ 339 $ 432 $ 1,064 $ 1,207