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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest income    
Loans, including fees $ 99,256 $ 70,764
Investment securities 23,319 19,887
Deposits with other banks and short term investments 2,341 886
Total interest income 124,916 91,537
Interest expense    
Deposits 35,464 5,876
Federal funds purchased 147 54
Federal Home Loan Bank advances 6,763 2,564
Other borrowings 4,298 2,371
Total interest expense 46,672 10,865
Net Interest Income 78,244 80,672
Provision for credit losses 3,600 3,370
Net interest income after provision for loan losses 74,644 77,302
Noninterest income    
Gain on sales of SBA loans 5,063 6,216
Loss on sales of securities 0 (82)
BOLI income 1,396 1,313
Insurance commissions 1,873 1,777
Other 3,976 995
Total noninterest income 35,634 35,025
Noninterest expenses    
Salaries and employee benefits 49,233 52,809
Occupancy and equipment 6,283 6,534
Information technology expense 8,553 9,947
Professional fees 3,097 3,432
Advertising and public relations 3,486 3,664
Communications 947 1,602
Other 11,466 11,487
Total noninterest expense 83,065 89,475
Income before income taxes 27,213 22,852
Income taxes 5,466 3,310
Net income $ 21,747 $ 19,542
Net income per share of common stock    
Basic (in dollars per share) $ 1.24 $ 1.14
Diluted (in dollars per share) 1.24 1.14
Cash dividends declared per share of common stock (in dollars per share) $ 0.44 $ 0.43
Weighted average shares outstanding, basic (in shares) 17,578,294 17,191,079
Weighted average shares outstanding, diluted (in shares) 17,578,294 17,191,079
Service charges on deposits    
Noninterest income    
Non interest revenue from banking services $ 8,735 $ 7,875
Mortgage fee income    
Noninterest income    
Non interest revenue from banking services 6,131 8,550
Interchange fees    
Noninterest income    
Non interest revenue from banking services $ 8,460 $ 8,381