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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans and leases, including fees $ 54,738 $ 47,539 $ 155,611 $ 137,712
Securities:        
Taxable 5,233 4,335 15,101 12,322
Tax-exempt 350 356 1,056 1,066
Federal funds sold and other earning assets 3,635 3,045 13,255 9,448
Total interest income 63,956 55,275 185,023 160,548
Interest expense:        
Deposits 27,350 23,433 81,824 59,333
Borrowings 709 210 985 775
Subordinated debt 865 626 2,647 1,877
Total interest expense 28,924 24,269 85,456 61,985
Net interest income 35,032 31,006 99,567 98,563
Provision for credit losses 2,575 795 3,018 1,458
Net interest income after provision for credit losses 32,457 30,211 96,549 97,105
Noninterest income:        
Service charges on deposit accounts 1,780 1,736 5,084 4,838
Loss on sale of securities   (6,801)   (6,801)
Mortgage banking 410 309 1,038 813
Investment services 1,881 1,461 4,563 3,766
Insurance commissions 1,477 1,153 3,865 3,551
Interchange and debit card transaction fees, net 1,349 1,357 3,945 4,087
Other 2,242 1,476 6,627 4,492
Total noninterest income 9,139 691 25,122 14,746
Noninterest expense:        
Salaries and employee benefits 18,448 16,785 52,348 49,474
Occupancy and equipment 3,423 3,547 10,144 10,073
FDIC insurance 825 825 2,565 2,241
Other real estate and loan related expense 460 603 1,582 1,616
Advertising and marketing 327 346 924 1,006
Data processing and technology 2,519 2,378 7,435 6,777
Professional services 1,201 735 3,190 2,307
Amortization of intangibles 604 647 1,824 1,981
Merger related and restructuring expenses   110   110
Other 3,039 2,540 8,587 7,870
Total noninterest expense 30,846 28,516 88,599 83,455
Income before income tax expense 10,750 2,386 33,072 28,396
Income tax expense 1,610 319 6,572 5,993
Net income $ 9,140 $ 2,067 $ 26,500 $ 22,403
Earnings per common share:        
Basic (in dollars per share) $ 0.55 $ 0.12 $ 1.58 $ 1.33
Diluted (in dollars per share) $ 0.54 $ 0.12 $ 1.57 $ 1.33
Weighted average common shares outstanding:        
Basic (in shares) 16,726,658 16,807,548 16,782,200 16,801,840
Diluted (in shares) 16,839,998 16,918,635 16,874,316 16,907,325