XML 27 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income        
Loans $ 62,161 $ 56,122 $ 122,113 $ 104,030
Debt securities available for sale 1,495 1,338 2,808 2,521
Other investments and interest-bearing deposits 1,758 1,671 3,848 3,246
Total interest and dividend income 65,414 59,131 128,769 109,797
Interest expense        
Deposits 21,683 12,662 42,001 20,526
Junior subordinated debt 234 218 470 327
Borrowings 1,331 2,355 2,902 3,594
Total interest expense 23,248 15,235 45,373 24,447
Net interest income 42,166 43,896 83,396 85,350
Provision for credit losses 4,260 405 5,425 9,165
Net interest income after provision for credit losses 37,906 43,491 77,971 76,185
Noninterest income        
Service charges and fees on deposit accounts 2,354 2,393 4,503 4,649
Loan income and fees 647 792 1,325 1,354
Gain on sale of loans held for sale 1,828 1,109 3,285 2,920
BOLI income 807 573 2,642 1,095
Operating lease income 1,591 1,225 3,450 2,730
Gain (loss) on sale of premises and equipment 0 82 (9) 982
Other 886 714 1,728 1,468
Total noninterest income 8,113 6,888 16,924 15,198
Noninterest expense        
Salaries and employee benefits 16,608 16,676 33,584 32,922
Occupancy expense, net 2,419 2,600 4,856 5,067
Computer services 3,116 3,302 6,204 6,213
Telephone, postage and supplies 580 677 1,165 1,290
Marketing and advertising 606 696 1,251 1,068
Deposit insurance premiums 531 549 1,085 1,161
Core deposit intangible amortization 567 859 1,329 1,465
Merger-related expenses 0 0 0 4,741
Other 5,783 5,552 10,600 9,817
Total noninterest expense 30,210 30,911 60,074 63,744
Income before income taxes 15,809 19,468 34,821 27,639
Income tax expense 3,391 4,455 7,336 5,892
Net income $ 12,418 $ 15,013 $ 27,485 $ 21,747
Net income per common share        
Basic (in dollars per share) $ 0.73 $ 0.91 $ 1.61 $ 1.31
Diluted (in dollars per share) $ 0.73 $ 0.90 $ 1.61 $ 1.30
Average shares outstanding        
Basic (in shares) 16,883,028 16,774,661 16,871,383 16,400,370
Diluted (in shares) 16,904,098 16,781,923 16,888,550 16,427,587