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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans, including fees $ 43,552 $ 28,353 $ 124,308 $ 74,131
Securities:        
Taxable 2,384 1,590 6,405 4,266
Tax-exempt 243 453 789 1,339
Other 810 344 2,318 1,044
Total interest income 46,989 30,740 133,820 80,780
Interest expense:        
Deposits 11,644 2,637 29,177 5,939
Securities sold under repurchase agreements 252 100 1,383 104
Borrowed funds 1,035 310 2,696 1,274
Total interest expense 12,931 3,047 33,256 7,317
Net interest income 34,058 27,693 100,564 73,463
Provision for credit losses     4,182 1,700
Net interest income after provision for credit losses 34,058 27,693 96,382 71,763
Noninterest income:        
Service charges 1,821 1,383 5,186 4,246
Income from Ansay and Associates, LLC ("Ansay") 791 671 2,812 2,316
Income from UFS, LLC ("UFS") 784 852 2,444 2,120
Loan servicing income 734 491 2,119 1,377
Valuation adjustment on MSR 229 885 460 2,846
Net gain on sales of mortgage loans 248 264 624 1,338
Other 647 620 2,012 1,562
Total noninterest income 5,254 5,166 15,657 15,805
Noninterest expense:        
Salaries, commissions, and employee benefits 10,216 10,812 29,998 24,993
Occupancy 1,455 1,176 4,363 3,505
Data processing 2,153 1,577 6,111 4,353
Postage, stationery, and supplies 244 215 848 542
Net (gain) loss on sales and valuations of OREO 53   542 (146)
Net loss on sale of securities     75  
Advertising 60 61 226 205
Charitable contributions 229 150 680 553
Outside service fees 1,438 2,538 4,987 5,096
Amortization of intangibles 1,626 751 4,720 1,338
Other 2,173 1,615 6,707 4,260
Total noninterest expense 19,647 18,895 59,257 44,699
Income before provision for income taxes 19,665 13,964 52,782 42,869
Provision for income taxes 4,861 3,431 13,166 10,499
Net Income $ 14,804 $ 10,533 $ 39,616 $ 32,370
Earnings per share - basic $ 1.43 $ 1.26 $ 3.89 $ 4.15
Earnings per share - diluted $ 1.43 $ 1.26 $ 3.89 $ 4.15