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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 32,764 $ 28,892 $ 97,060 $ 84,764
Interest on investment securities:        
Taxable 2,755 3,055 8,338 9,402
Tax-exempt 228 216 680 440
Other interest income 1,101 997 2,282 1,927
Total interest income 36,848 33,160 108,360 96,533
INTEREST EXPENSE        
Interest on deposits 15,729 11,733 45,439 27,488
Interest on borrowings 3,263 3,958 10,651 13,016
Total interest expense 18,992 15,691 56,090 40,504
Net interest income 17,856 17,469 52,270 56,029
Provision for credit losses (945) (34) (2,779) (2,486)
Net interest income after provision for credit losses 18,801 17,503 55,049 58,515
NONINTEREST INCOME        
Gain (loss) on call or sale of investment securities, net 1 0 (382) (1)
(Loss) gain on sale or disposition of fixed assets, net 0 (367) 427 (1,284)
(Loss) gain on sale of other real estate owned, net (4) 23 708 (114)
Gain on sale of loans 0 0 0 75
Income from bank owned life insurance 459 357 1,310 1,046
Change in the fair value of equity securities 174 22 254 (89)
Legal settlement 1,122 0 1,122 0
Other operating income 561 395 1,958 1,566
Total noninterest income 3,544 1,637 9,042 4,783
Income before noninterest expense 22,345 19,140 64,091 63,298
NONINTEREST EXPENSE        
Depreciation and amortization 760 900 2,359 2,871
Salaries and employee benefits 9,982 9,463 28,823 28,140
Occupancy 652 618 1,929 2,288
Data processing 880 888 2,710 2,590
Marketing 121 83 234 234
Professional fees 473 516 1,363 1,472
Gain on early extinguishment of subordinated debt 0 0 (502) 0
Other operating expenses 3,312 3,306 10,037 9,595
Total noninterest expense 16,180 15,774 46,953 47,190
Income before income tax expense 6,165 3,366 17,138 16,108
Income tax expense 784 585 2,993 2,968
Net income $ 5,381 $ 2,781 $ 14,145 $ 13,140
EARNINGS PER SHARE        
Basic earnings per share (in dollars per share) $ 0.55 $ 0.28 $ 1.44 $ 1.33
Diluted earnings per share (in dollars per share) 0.54 0.28 1.43 1.33
Cash dividends declared per common share (in dollars per share) $ 0.105 $ 0.1 $ 0.305 $ 0.295
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income $ 828 $ 806 $ 2,437 $ 2,292
Bank Servicing [Member]        
NONINTEREST INCOME        
Noninterest income 0 2 0 12
Credit and Debit Card [Member]        
NONINTEREST INCOME        
Noninterest income $ 403 $ 399 $ 1,208 $ 1,280