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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income    
Interest and fees on loans $ 45,332 $ 32,035
Taxable interest on investments 5,963 5,789
Nontaxable interest on investments 763 764
Dividend income 219 106
Other interest income 448 164
Total interest income 52,725 38,858
Interest Expense    
Interest on deposits 15,832 1,833
Interest on borrowings 2,085 131
Interest on junior subordinated debentures 528 529
Total interest expense 18,445 2,493
Net interest income 34,280 36,365
Provision (credit) for credit losses 2,002 (1,075)
Net interest income after provision (credit) for credit losses 32,278 37,440
Non-Interest Income    
Brokerage and insurance commissions 1,093 994
Mortgage banking income, net 716 1,034
Bank-owned life insurance 592 576
Other income 1,165 833
Total non-interest income 9,866 9,825
Non-Interest Expense    
Salaries and employee benefits 14,573 15,506
Furniture, equipment and data processing 3,211 3,132
Net occupancy costs 2,079 2,144
Debit card expense 1,201 1,066
Consulting and professional fees 1,055 1,007
Regulatory assessments 845 655
Amortization of core deposit intangible assets 148 156
Other expenses 3,053 2,543
Total non-interest expense 26,165 26,209
Income before income tax expense 15,979 21,056
Income Tax Expense 3,252 4,261
Net Income $ 12,727 $ 16,795
Per Share Data    
Basic earnings per share $ 0.87 $ 1.14
Diluted earnings per share 0.87 1.13
Cash dividends declared per share $ 0.42 $ 0.40
Weighted average number of common shares outstanding 14,573,122 14,741,271
Diluted weighted average number of common shares outstanding 14,631,542 14,822,332
Debit card income    
Non-Interest Income    
Revenue $ 2,938 $ 2,924
Service charges on deposit accounts    
Non-Interest Income    
Revenue 1,762 1,833
Income from fiduciary services    
Non-Interest Income    
Revenue $ 1,600 $ 1,631