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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Loans, including fees $ 32,302 $ 26,922 $ 87,404 $ 80,673
Mortgage-backed securities 173 159 379 532
Other investment securities 1,103 814 2,990 2,345
FHLB stock and other interest earning assets 822 249 1,812 673
Total interest income 34,400 28,144 92,585 84,223
Deposits:        
Demand 1,169 1,059 2,873 3,407
Savings and club 113 131 331 376
Certificates of deposit 1,087 1,344 2,916 4,975
Total deposits 2,369 2,534 6,120 8,758
Borrowings 1,080 997 2,701 3,226
Total interest expense 3,449 3,531 8,821 11,984
Net interest income 30,951 24,613 83,764 72,239
(Credit) provision for loan losses 680 (2,575) 4,840
Net interest income after (credit) provision for loan losses 30,951 23,933 86,339 67,399
Non-interest income:        
Fees and service charges 1,251 713 3,678 2,853
BOLI income 646 765 2,087 2,195
Gain on sales of loans 18 83 126 575
Loss on bulk sale of impaired loans held in portfolio       (64)
Gain on sales of other real estate owned   11   11
Gain on sale of premises       371
Realized and unrealized (losses) on equity investments (559) (307) (5,546) (4)
Other 90 52 188 150
Total non-interest income 1,446 1,317 533 6,087
Non-interest expense:        
Salaries and employee benefits 6,944 6,511 20,395 19,568
Occupancy and equipment 2,608 2,983 7,976 8,604
Data processing and communications 1,520 1,511 4,454 4,493
Professional fees 614 543 1,597 1,446
Director fees 375 233 992 790
Regulatory assessments 264 303 812 993
Advertising and promotional 286 200 681 392
Other real estate owned, net 1 (11) 6 12
Loss from extinguishment of debt   337   1,071
Other 841 918 2,555 2,899
Total non-interest expense 13,453 13,528 39,468 40,268
Income before income tax provision 18,944 11,722 47,404 33,218
Income tax provision 5,552 3,400 13,897 9,729
Net Income 13,392 8,322 33,507 23,489
Preferred stock dividends 174 286 624 852
Net Income available to common stockholders $ 13,218 $ 8,036 $ 32,883 $ 22,637
Net Income per common share-basic and diluted        
Basic $ 0.78 $ 0.47 $ 1.94 $ 1.33
Diluted $ 0.76 $ 0.47 $ 1.89 $ 1.31
Weighted average number of common shares outstanding        
Basic 16,982 17,019 16,986 17,085
Diluted 17,356 17,222 17,369 17,242