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Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Loans $ 32,738 $ 23,152 $ 92,685 $ 66,548
Investment securities - taxable 4,459 2,907 13,244 6,462
Investment securities - tax-exempt 861 1,160 2,591 3,013
Short-term investments 633 200 1,349 536
Total interest income 38,691 27,419 109,869 76,559
Interest expense        
Deposits 10,582 1,372 25,392 2,758
Securities sold under agreements to repurchase and federal funds purchased 31 10 84 24
FHLB advances and other borrowings 1,354 78 3,992 121
Subordinated notes 505 504 1,513 1,510
Total interest expense 12,472 1,964 30,981 4,413
Net interest income 26,219 25,455 78,888 72,146
Provision for credit losses 136 1,500 1,264 3,575
Net interest income after provision for credit losses 26,083 23,955 77,624 68,571
Noninterest income        
Service charges on deposit accounts 1,020 977 2,966 2,861
Interchange income 963 1,014 2,921 3,059
Other service charges, commissions and fees 240 239 702 622
Swap fee income 255 197 451 1,935
Trust and investment management income 1,853 2,006 5,668 5,852
Brokerage income 973 947 2,727 2,864
Mortgage banking activities (142) (1,014) 448 205
Income from life insurance 620 583 1,855 1,742
Investment securities gain (losses) 2 (14) (8) (163)
Other income 141 1,123 1,431 1,749
Total noninterest income 5,925 6,058 19,161 20,726
Noninterest expenses        
Salaries and employee benefits 12,885 12,705 38,135 35,354
Occupancy 1,089 1,166 3,249 3,586
Furniture and equipment 1,371 1,214 3,810 3,784
Data processing 1,248 1,192 3,666 3,410
Automated teller and interchange fees 314 329 920 952
Advertising and bank promotions 332 278 1,656 1,514
FDIC insurance 477 294 1,500 767
Professional services 965 887 2,203 2,417
Directors' compensation 199 213 667 674
Taxes other than income 387 488 847 1,160
Intangible asset amortization 228 272 717 845
Provision for legal settlement 0 13,000 0 13,000
Restructuring expenses 0 3,155 0 3,155
Other operating expenses 952 1,219 4,081 3,952
Total noninterest expenses 20,447 36,412 61,451 74,570
Income (loss) before income tax expense (benefit) 11,561 (6,399) 35,334 14,727
Income tax expense (benefit) 2,535 (1,571) 7,314 2,316
Net income (loss) $ 9,026 $ (4,828) $ 28,020 $ 12,411
Per share information:        
Basic earnings (loss) per share (in usd per share) $ 0.87 $ (0.47) $ 2.71 $ 1.17
Diluted earnings (loss) per share (in usd per share) 0.87 (0.47) 2.68 1.16
Dividends paid per share (in usd per share) $ 0.20 $ 0.19 $ 0.60 $ 0.57