Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
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| Interest income | ||||
| Loans, including fees | $ 36,451 | $ 32,840 | $ 105,645 | $ 87,549 |
| Investment securities available for sale | 1,362 | 549 | 2,510 | 1,571 |
| Federal funds sold and other | 527 | 139 | 1,143 | 335 |
| Total interest income | 38,340 | 33,528 | 109,298 | 89,455 |
| Interest expense | ||||
| Deposits | 1,386 | 1,285 | 3,234 | 4,874 |
| Borrowed funds | 277 | 184 | 656 | 559 |
| Total interest expense | 1,663 | 1,469 | 3,890 | 5,433 |
| Net interest income | 36,677 | 32,059 | 105,408 | 84,022 |
| Provision for Loan Losses | 1,260 | 975 | 4,247 | 2,259 |
| Net interest income after provision for loan losses | 35,417 | 31,084 | 101,161 | 81,763 |
| Noninterest income | ||||
| Gain on sale of investment securities available for sale, net | 0 | 0 | 0 | 153 |
| Other fees and charges | 416 | 418 | 1,296 | 680 |
| Total noninterest income | 7,108 | 12,597 | 23,811 | 39,992 |
| Noninterest expenses | ||||
| Salaries and employee benefits | 10,747 | 9,962 | 31,129 | 27,279 |
| Occupancy and equipment | 1,138 | 998 | 3,476 | 3,322 |
| Professional fees | 3,848 | 2,555 | 8,586 | 5,542 |
| Data processing | 7,178 | 10,161 | 22,721 | 29,594 |
| Advertising | 1,632 | 1,027 | 5,494 | 3,153 |
| Loan processing | 625 | 644 | 1,352 | 2,670 |
| Other operating | 2,926 | 3,280 | 9,621 | 10,012 |
| Total noninterest expenses | 28,094 | 28,627 | 82,379 | 81,572 |
| Income before income taxes | 14,431 | 15,054 | 42,593 | 40,183 |
| Income tax expense | 3,336 | 3,877 | 9,779 | 10,376 |
| Net income | $ 11,095 | $ 11,177 | $ 32,814 | $ 29,807 |
| Basic earnings per share (in dollars per share) | $ 0.79 | $ 0.81 | $ 2.34 | $ 2.16 |
| Diluted earnings per share (in dollars per share) | $ 0.77 | $ 0.79 | $ 2.29 | $ 2.11 |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 14,030,408 | 13,793,087 | 14,008,885 | 13,772,261 |
| Diluted (in shares) | 14,374,980 | 14,228,497 | 14,328,602 | 14,110,789 |
| Service charges on deposits | ||||
| Noninterest income | ||||
| Noninterest income | $ 199 | $ 160 | $ 545 | $ 473 |
| Credit card fees | ||||
| Noninterest income | ||||
| Noninterest income | 5,524 | 7,554 | 17,658 | 21,208 |
| Mortgage banking revenue | ||||
| Noninterest income | ||||
| Noninterest income | $ 969 | $ 4,465 | $ 4,312 | $ 17,478 |
| X | ||||||||||
- Definition Occupancy And Equipment Expense No definition available.
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- Definition Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all borrowings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income, amortization of premium and accretion of discount on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale); classified as operating. No definition available.
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| X | ||||||||||
- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest income on federal funds sold. Federal funds sold represent the excess federal funds held by one commercial bank which it lends to another commercial bank, usually at an agreed-upon (federal funds) rate of interest. Such loans generally are of short-duration (overnight). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Expenses paid for obtaining loans which includes expenses such as application and origination fees. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of credit loss expense (reversal of expense) for financing receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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