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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Loans, including fees $ 35,304 $ 28,641 $ 69,193 $ 54,709
Investment securities available for sale 779 544 1,149 1,021
Federal funds sold and other 473 104 615 197
Total interest income 36,556 29,289 70,957 55,927
Interest expense        
Deposits 964 1,582 1,847 3,589
Borrowed funds 192 187 379 375
Total interest expense 1,156 1,769 2,226 3,964
Net interest income 35,400 27,520 68,731 51,963
Provision for Loan Losses 2,035 781 2,987 1,284
Net interest income after provision for loan losses 33,365 26,739 65,744 50,679
Noninterest income        
Gain on sale of investment securities available for sale, net 0 153 0 153
Other fees and charges 441 168 852 288
Total noninterest income 8,362 13,471 16,650 27,421
Noninterest expenses        
Salaries and employee benefits 10,071 8,750 20,381 17,317
Occupancy and equipment 1,313 1,195 2,339 2,324
Professional fees 2,417 1,362 4,738 2,987
Data processing 7,266 10,122 15,542 19,433
Advertising 2,223 1,293 3,862 2,126
Loan processing 335 975 727 2,026
Other operating 3,505 3,508 6,643 6,759
Total noninterest expenses 27,130 27,205 54,232 52,972
Income before income taxes 14,597 13,005 28,162 25,128
Income tax expense 3,089 3,357 6,443 6,499
Net income $ 11,508 $ 9,648 $ 21,719 $ 18,629
Basic earnings per share (in dollars per share) $ 0.82 $ 0.70 $ 1.55 $ 1.35
Diluted earnings per share (in dollars per share) $ 0.80 $ 0.68 $ 1.52 $ 1.32
Weighted average common shares outstanding:        
Basic (in shares) 14,007,240 13,766,318 13,997,946 13,761,676
Diluted (in shares) 14,312,848 14,172,438 14,323,400 14,070,427
Service charges on deposits        
Noninterest income        
Noninterest income $ 183 $ 165 $ 346 $ 312
Credit card fees        
Noninterest income        
Noninterest income 6,210 7,715 12,134 13,655
Mortgage banking revenue        
Noninterest income        
Noninterest income $ 1,528 $ 5,270 $ 3,318 $ 13,013