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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 and leases, including fees $ 47,539 $ 35,127 $ 137,712 $ 96,300
Securities:        
Taxable 4,335 3,135 12,322 8,463
Tax-exempt 356 561 1,066 1,369
Federal funds sold and other earning assets 3,045 3,474 9,448 5,389
Total interest income 55,275 42,297 160,548 111,521
Interest expense:        
Deposits 23,433 4,866 59,333 9,384
Borrowings 210 97 775 371
Subordinated debt 626 626 1,877 1,877
Total interest expense 24,269 5,589 61,985 11,632
Net interest income 31,006 36,708 98,563 99,889
Provision for credit losses   974   3,230
Provision for credit losses, post ASU 2019-04 795   1,458  
Net interest income after provision for credit losses 30,211 35,734 97,105 96,659
Noninterest income:        
Service charges on deposit accounts 1,736 1,611 4,838 4,376
Loss on sale of securities (6,801)   (6,801)  
Mortgage banking 309 170 813 1,475
Investment services 1,461 1,051 3,766 3,186
Insurance commissions 1,153 864 3,551 2,363
Interchange and debit card transaction fees, net 1,357 1,356 4,087 4,107
Other 1,476 1,198 4,492 5,083
Total noninterest income 691 6,250 14,746 20,590
Noninterest expense:        
Salaries and employee benefits 16,785 16,317 49,474 47,036
Occupancy and equipment 3,547 3,167 10,073 9,020
FDIC insurance 825 705 2,241 2,022
Other real estate and loan related expense 603 565 1,616 1,930
Advertising and marketing 346 288 1,006 985
Data processing and technology 2,378 1,872 6,777 5,185
Professional services 735 822 2,307 2,809
Amortization of intangibles 647 650 1,981 1,919
Merger related and restructuring expenses 110 87 110 607
Other 2,540 2,757 7,870 7,361
Total noninterest expense 28,516 27,230 83,455 78,874
Income before income tax expense 2,386 14,754 28,396 38,375
Income tax expense 319 3,211 5,993 8,357
Net income $ 2,067 $ 11,543 $ 22,403 $ 30,018
Earnings per common share:        
Basic (in dollars per share) $ 0.12 $ 0.69 $ 1.33 $ 1.79
Diluted (in dollars per share) $ 0.12 $ 0.68 $ 1.33 $ 1.78
Weighted average common shares outstanding:        
Basic (in shares) 16,807,548 16,749,255 16,801,840 16,734,298
Diluted (in shares) 16,918,635 16,872,022 16,907,325 16,867,970