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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans $ 35,537 $ 31,203 $ 71,770 $ 59,947
Investment securities - taxable 4,999 4,415 9,583 8,785
Investment securities - tax-exempt 881 865 1,758 1,730
Short-term investments 1,864 418 2,820 716
Total interest income 43,281 36,901 85,931 71,178
Interest expense        
Deposits 15,265 8,608 28,781 14,810
Securities sold under agreements to repurchase and federal funds purchased 27 28 52 53
FHLB advances and other borrowings 1,152 1,386 2,626 2,638
Subordinated notes 734 504 1,488 1,008
Total interest expense 17,178 10,526 32,947 18,509
Net interest income 26,103 26,375 52,984 52,669
Provision for credit losses 812 399 1,110 1,128
Net interest income after provision for credit losses 25,291 25,976 51,874 51,541
Noninterest income        
Service charges on deposit accounts 1,018 984 2,023 1,946
Interchange income 961 993 1,872 1,958
Other service charges, commissions and fees 265 267 460 462
Swap fee income 375 196 574 196
Trust and investment management income 2,132 1,927 4,156 3,815
Brokerage income 1,180 895 2,258 1,754
Mortgage banking activities 369 112 827 590
Income from life insurance 646 645 1,280 1,235
Investment securities losses (12) (2) (17) (10)
Other income 238 1,141 369 1,290
Total noninterest income 7,172 7,158 13,802 13,236
Noninterest expenses        
Salaries and employee benefits 13,195 13,054 26,947 25,250
Occupancy 1,178 1,054 2,379 2,160
Furniture and equipment 1,527 1,212 2,965 2,439
Data processing 1,237 1,201 2,502 2,418
Automated teller and interchange fees 341 308 692 606
Advertising and bank promotions 774 919 1,172 1,324
FDIC insurance 419 519 860 1,023
Professional services 801 504 1,432 1,238
Directors' compensation 272 221 523 468
Taxes other than income 49 3 543 460
Intangible asset amortization 215 239 440 489
Merger-related expenses 1,135 0 1,807 0
Other operating expenses 1,496 1,515 2,846 3,129
Total noninterest expenses 22,639 20,749 45,108 41,004
Income before income tax expense 9,824 12,385 20,568 23,773
Income tax expense 2,086 2,547 4,299 4,779
Net income $ 7,738 $ 9,838 $ 16,269 $ 18,994
Per share information:        
Basic earnings per share (in usd per share) $ 0.74 $ 0.95 $ 1.57 $ 1.83
Diluted earnings per share (in usd per share) 0.73 0.94 1.55 1.82
Dividends paid per share (in usd per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40