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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:    
Loans, including fees $ 32,080 $ 19,287
Loans accounted for under the fair value option 427 0
Investment securities 629 337
Interest-bearing deposits in other financial institutions 1,403 232
Dividends, restricted stock 173 20
Total interest and dividend income 34,712 19,876
Interest expense:    
Deposits 13,092 943
Other borrowed funds 2,060 438
Total interest expense 15,152 1,381
Net interest income 19,560 18,495
Less: (Release) provision for credit losses (310) 210
Net interest income, after (release) provision for credit losses 19,870 18,285
Non-interest income:    
Trust and investment management fees 4,635 5,166
Net gain on mortgage loans 1,019 2,303
Net loss on loans held for sale (178) 0
Bank fees 592 671
Risk management and insurance fees 127 109
Income on company-owned life insurance 90 86
Net gain on equity interests 0 1
Net loss on loans accounted for under the fair value option (543) 0
Unrealized gain/(loss) recognized on equity securities 10 (32)
Other 67 85
Total non-interest income 5,819 8,389
Total income before non-interest expense 25,689 26,674
Non-interest expense:    
Salaries and employee benefits 13,098 12,058
Occupancy and equipment 1,914 1,882
Professional services 1,923 1,526
Technology and information systems 832 1,046
Data processing 1,139 1,187
Marketing 391 557
Amortization of other intangible assets 64 77
Net (gain)/loss on assets held for sale 0 (1)
Other 1,167 1,026
Total non-interest expense 20,528 19,358
Income before income taxes 5,161 7,316
Income tax expense 1,341 1,792
Net income available to common shareholders $ 3,820 $ 5,524
Earnings per common share:    
Basic (in USD per share) $ 0.40 $ 0.59
Diluted (in USD per share) $ 0.39 $ 0.57