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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income    
Loans, including fees $ 16,010 $ 13,573
Investment securities 4,171 1,750
Federal funds sold, interest bearing deposits in banks and short term investments 56 53
Total interest income 20,237 15,376
Interest expense    
Deposits 599 654
Federal Home Loan Bank Advances 249 114
Paycheck Protection Program Liquidity Facility 0 68
Other borrowings 201 257
Total interest expense 1,049 1,093
Net interest income 19,188 14,283
Provision for loan losses 50 500
Net interest income after provision for loan losses 19,138 13,783
Noninterest income    
Gain on sales of SBA loans 1,726 1,471
Gain (loss) on sales of securities 24 (4)
BOLI Income 312 208
Other 353 154
Total noninterest income 9,152 8,576
Noninterest expense    
Salaries and employee benefits 13,272 9,955
Occupancy and equipment 1,619 1,326
Acquisition related expenses 624 176
Information technology expenses 2,354 1,592
Professional fees 869 486
Advertising and public relations 766 580
Communications 437 218
Other 1,864 1,449
Total noninterest expense 21,805 15,782
Income before income taxes 6,485 6,577
Income taxes 1,161 1,658
Net income $ 5,324 $ 4,919
Earnings per common share:    
Basic (in dollars per share) $ 0.34 $ 0.52
Diluted (in dollars per share) 0.34 0.52
Dividends declared per share (in dollars per share) $ 0.1075 $ 0.1000
Weighted average common shares outstanding:    
Basic (in shares) 15,877,695 9,498,783
Diluted (in shares) 15,877,695 9,498,783
Service charges on deposits    
Noninterest income    
Noninterest income $ 1,825 $ 1,222
Mortgage fee income    
Noninterest income    
Noninterest income 2,912 3,995
Interchange fees    
Noninterest income    
Noninterest income $ 2,000 $ 1,530