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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income        
Loans $ 36,917 $ 24,581 $ 71,477 $ 47,252
Securities and other 5,964 4,207 11,755 8,033
Total interest and dividend income 42,881 28,788 83,232 55,285
Interest expense        
Deposits 8,590 1,195 13,855 2,384
Borrowings 5,501 1,074 9,681 2,084
Total interest expense 14,091 2,269 23,536 4,468
Net interest income 28,790 26,519 59,696 50,817
Provision for credit losses 750 534 1,548 911
Net interest income after provision for credit losses 28,040 25,985 58,148 49,906
Non-interest income        
Trust and investment management fee income 3,805 3,829 7,360 7,583
Customer service fees 3,774 3,656 7,451 7,272
Gain on sales of securities, net     34 9
Mortgage banking income 378 488 657 1,112
Bank-owned life insurance income 503 504 1,651 1,005
Customer derivative income 83 137 215 155
Other income 437 347 796 1,134
Total non-interest income 8,980 8,961 18,164 18,270
Non-interest expense        
Salaries and employee benefits 13,223 11,368 25,994 23,515
Occupancy and equipment 4,392 4,373 8,806 8,796
(Gain) loss on sales of premises and equipment, net (86) 10 (99) (65)
Outside services 424 410 780 750
Professional services 355 528 781 701
Communication 175 188 337 413
Marketing 476 369 885 632
Amortization of intangible assets 233 233 466 466
Acquisition, conversion and other expenses     20 325
Provision for unfunded commitments 45 45 (130) 371
Other expenses 4,155 4,176 8,256 7,682
Total non-interest expense 23,392 21,700 46,096 43,586
Income before income taxes 13,628 13,246 30,216 24,590
Income tax expense 2,837 2,743 6,413 4,975
Net income $ 10,791 $ 10,503 $ 23,803 $ 19,615
Earnings per share:        
Basic (in dollars per share) $ 0.71 $ 0.70 $ 1.57 $ 1.31
Diluted (in dollars per share) $ 0.71 $ 0.70 $ 1.57 $ 1.30
Weighted average common shares outstanding:        
Basic (in shares) 15,139,057 15,017,943 15,124,533 15,014,408
Diluted (in shares) 15,179,939 15,077,427 15,185,782 15,093,627