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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Interest and fees on loans and leases $ 48,008 $ 37,433
Interest and dividends on investment securities 5,663 5,295
Interest on deposits with others 5,961 366
Total interest income 59,632 43,094
Interest expense    
Deposits 3,714 803
Subordinated debentures 196 82
Total interest expense 3,910 885
Net interest income 55,722 42,209
Provision for credit losses 1,500 0
Net interest income after provision for credit losses 54,222 42,209
Non-interest income    
Card processing 1,591 1,737
Service charges on deposit accounts 634 850
Increase in cash surrender value of BOLI 444 542
Gain on BOLI death benefit 4,346 0
Net loss on sale of securities available-for-sale (5,686) 0
Net gain on deferred compensation benefits 896 412
Other 1,235 771
Total non-interest income 3,460 4,312
Non-interest expense    
Salaries and employee benefits 19,584 16,784
Net gain on deferred compensation benefits 896 412
Occupancy 1,180 1,154
Data Processing 1,260 1,215
FDIC insurance 611 349
Marketing 470 316
Legal 260 279
Other 3,922 3,279
Total non-interest expense 28,183 23,788
INCOME BEFORE INCOME TAXES 29,499 22,733
Income tax expense 5,952 5,675
NET INCOME $ 23,547 $ 17,058
Earnings per common share:    
Basic (in dollars per share) $ 30.8 $ 21.7
Diluted (in dollars per share) $ 30.8 $ 21.7
Weighted average number of common shares    
Basic (in shares) 764,603 786,096
Diluted (in shares) 764,603 786,096