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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans, including fees $ 27,097 $ 22,153
Investment securities 5,520 5,860
Deposits with other banks and short term investments 693 357
Total interest income 33,310 28,370
Interest expense    
Deposits 12,091 4,999
Federal funds purchased 0 88
Federal Home Loan Bank advances 1,572 1,626
Other borrowings 993 1,089
Total interest expense 14,656 7,802
Net interest income 18,654 20,568
Provision for credit losses 1,000 900
Net interest income after provision for credit losses 17,654 19,668
Noninterest income    
Gain on sales of SBA loans 2,046 1,057
Loss on sales of securities (555) 0
BOLI Income 533 331
Insurance commissions 465 460
Other 1,348 646
Total noninterest income 9,487 7,659
Noninterest expense    
Salaries and employee benefits 12,018 12,609
Occupancy and equipment 1,507 1,622
Information technology expenses 2,110 2,341
Professional fees 834 715
Advertising and public relations 960 993
Communications 226 294
Other 2,742 2,591
Total noninterest expense 20,397 21,165
Income before income taxes 6,744 6,162
Income taxes 1,411 1,119
Net income $ 5,333 $ 5,043
Earnings per common share:    
Basic (in dollars per share) $ 0.30 $ 0.29
Diluted (in dollars per share) 0.30 0.29
Dividends declared per share (in dollars per share) $ 0.1125 $ 0.1100
Weighted average common shares outstanding:    
Basic (in shares) 17,560,210 17,595,688
Diluted (in shares) 17,560,210 17,595,688
Service charges on deposits    
Noninterest income    
Noninterest income $ 2,373 $ 1,914
Mortgage fee income    
Noninterest income    
Noninterest income 1,249 1,183
Interchange fees    
Noninterest income    
Noninterest income $ 2,028 $ 2,068