v3.24.1.1.u2
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans, including fees $ 45,991 $ 41,275
Investment securities available for sale 1,251 1,377
Federal funds sold and other 1,127 764
Total interest income 48,369 43,416
Interest expense    
Deposits 12,833 7,754
Borrowed funds 528 1,175
Total interest expense 13,361 8,929
Net interest income 35,008 34,487
Provision for credit losses 2,727 1,660
Provision for (release of) credit losses on unfunded commitments 142 (19)
Net interest income after provision for credit losses 32,139 32,846
Noninterest income    
Other income 431 432
Total noninterest income 5,972 6,026
Noninterest expenses    
Salaries and employee benefits 12,907 12,554
Occupancy and equipment 1,613 1,213
Professional fees 1,947 2,374
Data processing 6,761 6,530
Advertising 2,032 517
Loan processing 371 349
Foreclosed real estate expenses, net 1 6
Merger-related expenses 712 0
Operational losses 931 964
Other operating 2,212 1,715
Total noninterest expenses 29,487 26,222
Income before income taxes 8,624 12,650
Income tax expense 2,062 2,915
Net income $ 6,562 $ 9,735
Basic earnings per share (in dollars per share) $ 0.47 $ 0.69
Diluted earnings per share (in dollars per share) $ 0.47 $ 0.68
Weighted average common shares outstanding:    
Basic (in shares) 13,918,724 14,159,383
Diluted (in shares) 13,918,724 14,272,292
Service charges on deposits    
Noninterest income    
Noninterest income $ 207 $ 229
Credit card fees    
Noninterest income    
Noninterest income 3,881 4,210
Mortgage banking revenue    
Noninterest income    
Noninterest income $ 1,453 $ 1,155