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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Loans $ 31,203 $ 22,027 $ 59,947 $ 43,396
Investment securities - taxable 4,415 1,957 8,785 3,555
Investment securities - tax-exempt 865 1,131 1,730 1,853
Short-term investments 418 235 716 336
Total interest income 36,901 25,350 71,178 49,140
Interest expense        
Deposits 8,608 701 14,810 1,386
Securities sold under agreements to repurchase and federal funds purchased 28 7 53 14
FHLB advances and other borrowings 1,386 21 2,638 43
Subordinated notes 504 503 1,008 1,006
Total interest expense 10,526 1,232 18,509 2,449
Net interest income 26,375 24,118 52,669 46,691
Provision for credit losses 399 1,775 1,128 2,075
Net interest income after provision for credit losses 25,976 22,343 51,541 44,616
Noninterest income        
Service charges on deposit accounts 984 964 1,946 1,884
Interchange income 993 1,064 1,958 2,045
Other service charges, commissions and fees 267 230 462 383
Swap fee income 196 785 196 1,738
Trust and investment management income 1,927 1,905 3,815 3,846
Brokerage income 895 989 1,754 1,917
Mortgage banking activities 112 498 590 1,219
Income from life insurance 645 593 1,235 1,159
Investment securities losses (2) (3) (10) (149)
Other income 1,141 169 1,290 626
Total noninterest income 7,158 7,194 13,236 14,668
Noninterest expenses        
Salaries and employee benefits 13,054 11,312 25,250 22,649
Occupancy 1,054 1,132 2,160 2,420
Furniture and equipment 1,212 1,291 2,439 2,570
Data processing 1,201 1,165 2,418 2,218
Automated teller and interchange fees 308 318 606 623
Advertising and bank promotions 919 881 1,324 1,236
FDIC insurance 519 190 1,023 473
Professional services 504 722 1,238 1,530
Directors' compensation 221 230 468 461
Taxes other than income 3 108 460 672
Intangible asset amortization 239 281 489 573
Other operating expenses 1,515 1,164 3,129 2,733
Total noninterest expenses 20,749 18,794 41,004 38,158
Income before income tax expense 12,385 10,743 23,773 21,126
Income tax expense 2,547 1,872 4,779 3,887
Net income $ 9,838 $ 8,871 $ 18,994 $ 17,239
Per share information:        
Basic earnings per share (in usd per share) $ 0.95 $ 0.84 $ 1.83 $ 1.61
Diluted earnings per share (in usd per share) 0.94 0.83 1.82 1.59
Dividends paid per share (in usd per share) $ 0.20 $ 0.19 $ 0.40 $ 0.38