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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
Fee Revenue and Other Income:        
Fee revenues $ 31,783 $ 30,505 $ 94,120 $ 90,732
Other 1,264 1,568 3,624 3,275
Total fee revenue and other income 32,800 31,784 96,980 92,865
Interest Income:        
Interest and fees on loans 12,863 10,006 38,029 27,890
Interest and dividends on securities:        
Taxable 3,428 2,947 10,702 6,679
Exempt from federal income taxes 964 1,551 3,161 4,867
Interest on federal funds sold and other short-term investments 3,934 2,249 9,147 3,423
Total interest income 21,189 16,753 61,039 42,859
Interest Expense:        
Interest on deposits 4,641 782 11,463 1,344
Interest on short-term borrowings 0 0 116 0
Total interest expense 4,641 782 11,579 1,344
Net interest income 16,548 15,971 49,460 41,515
Provision for (release of) credit losses 125 550 (335) 850
Net interest income after provision for (release of) credit losses 16,423 15,421 49,795 40,665
Total net revenue 49,223 47,205 146,775 133,530
Operating Expense:        
Personnel 29,636 26,999 89,094 77,750
Occupancy 908 970 2,670 2,801
Equipment 1,789 1,633 5,188 5,004
Amortization of intangible assets 195 195 585 485
Other operating expense 7,535 6,524 22,237 15,748
Total operating expense 40,063 36,321 119,774 101,788
Income before income tax expense 9,160 10,884 27,001 31,742
Income tax expense 1,766 2,085 5,352 6,123
Net income $ 7,394 $ 8,799 $ 21,649 $ 25,619
Basic earnings per share (in dollars per share) $ 0.55 $ 0.65 $ 1.60 $ 1.89
Diluted earnings per share (in dollars per share) $ 0.54 $ 0.64 $ 1.56 $ 1.86
Processing fees        
Fee Revenue and Other Income:        
Fee revenues $ 19,939 $ 18,964 $ 58,838 $ 57,184
Financial fees        
Fee Revenue and Other Income:        
Fee revenues $ 11,597 $ 11,252 $ 34,518 $ 32,406