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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME      
Interest-bearing deposits $ 735 $ 194 $ 258
FHLB stock 396 197 331
Securities:      
Taxable 4,754 1,298 1,695
Tax-exempt 53 31 61
Total securities 4,807 1,329 1,756
Loans:      
SBA loans 4,303 3,252 3,144
SBA PPP loans 1,596 7,206 3,120
Commercial loans 53,820 44,167 40,002
Residential mortgage loans 22,395 19,227 22,255
Consumer loans 4,132 3,145 3,502
Residential construction loans 8,555 6,063 4,547
Total loans 94,801 83,060 76,570
Total interest income 100,739 84,780 78,915
INTEREST EXPENSE      
Interest-bearing demand deposits 1,384 1,073 1,344
Savings deposits 3,110 1,685 2,463
Time deposits 2,757 3,834 8,784
Borrowed funds and subordinated debentures 3,380 1,149 1,889
Total interest expense 10,631 7,741 14,480
Net interest income 90,108 77,039 64,435
Provision for loan losses 4,159 181 7,000
Net interest income after provision for loan losses 85,949 76,858 57,435
NONINTEREST INCOME      
Gain on sale of SBA loans held for sale, net 954 741 1,642
Gain on sale of mortgage loans, net 1,399 4,567 6,344
BOLI income 636 689 613
Net securities (losses) gains (1,313) 609 93
Other income 2,819 1,561 1,466
Total noninterest income 8,045 12,054 12,946
NONINTEREST EXPENSE      
Compensation and benefits 26,949 24,771 23,124
Processing and communications 2,848 3,050 3,155
Occupancy 2,963 2,661 2,543
Furniture and equipment 2,493 2,590 2,606
Professional services 1,401 1,437 1,144
Advertising 1,212 1,236 906
Other loan expenses 240 922 622
Deposit insurance 1,022 844 674
Director fees 916 811 774
Loan collection expenses 278 135 215
Other expenses 2,251 2,325 3,499
Total noninterest expense 42,573 40,782 39,262
Income before provision for income taxes 51,421 48,130 31,119
Provision for income taxes 12,964 12,011 7,475
Net income $ 38,457 $ 36,119 $ 23,644
Net income per common share - Basic $ 3.66 $ 3.47 $ 2.21
Net income per common share - Diluted $ 3.59 $ 3.43 $ 2.19
Weighted average common shares outstanding - Basic 10,508 10,403 10,709
Weighted average common shares outstanding - Diluted 10,705 10,546 10,814
Branch fee income      
NONINTEREST INCOME      
Noninterest income $ 1,117 $ 1,130 $ 1,046
Service and loan fee income      
NONINTEREST INCOME      
Noninterest income $ 2,433 $ 2,757 $ 1,742