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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Fee Revenue and Other Income:        
Fee revenues $ 31,301 $ 30,230 $ 62,337 $ 60,227
Other 1,025 844 2,360 1,706
Total fee revenue and other income 32,073 30,651 64,180 61,081
Interest Income:        
Interest and fees on loans 12,931 9,107 25,166 17,884
Interest and dividends on securities:        
Taxable 3,688 2,276 7,274 3,732
Exempt from federal income taxes 989 1,639 2,197 3,316
Interest on federal funds sold and other short-term investments 2,100 958 5,213 1,174
Total interest income 19,708 13,980 39,850 26,106
Interest Expense:        
Interest on deposits 3,651 339 6,822 562
Interest on short-term borrowings 43 0 116 0
Total interest expense 3,694 339 6,938 562
Net interest income 16,014 13,641 32,912 25,544
(Release of) provision for credit losses (120) 70 (460) 300
Net interest income after (release of) provision for credit losses 16,134 13,571 33,372 25,244
Total net revenue 48,207 44,222 97,552 86,325
Operating Expense:        
Personnel 29,432 26,033 59,458 50,751
Occupancy 907 916 1,762 1,831
Equipment 1,749 1,660 3,399 3,371
Amortization of intangible assets 195 155 390 290
Other operating expense 7,056 4,875 14,702 9,224
Total operating expense 39,339 33,639 79,711 65,467
Income before income tax expense 8,868 10,583 17,841 20,858
Income tax expense 1,730 2,021 3,586 4,038
Net income $ 7,138 $ 8,562 $ 14,255 $ 16,820
Basic earnings per share (in dollars per share) $ 0.53 $ 0.63 $ 1.05 $ 1.24
Diluted earnings per share (in dollars per share) $ 0.52 $ 0.62 $ 1.03 $ 1.22
Processing fees        
Fee Revenue and Other Income:        
Fee revenues $ 19,386 $ 19,184 $ 38,899 $ 38,220
Financial fees        
Fee Revenue and Other Income:        
Fee revenues $ 11,662 $ 10,623 $ 22,921 $ 21,155