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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income        
Loans $ 40,634 $ 36,917 $ 80,104 $ 71,477
Securities and other 6,204 5,964 12,557 11,755
Total interest and dividend income 46,838 42,881 92,661 83,232
Interest expense        
Deposits 14,780 8,590 29,312 13,855
Borrowings 4,299 5,501 7,535 9,681
Total interest expense 19,079 14,091 36,847 23,536
Net interest income 27,759 28,790 55,814 59,696
Provision for credit losses 585 750 874 1,548
Net interest income after provision for credit losses 27,174 28,040 54,940 58,148
Non-interest income        
Trust and investment management fee income 4,193 3,805 7,863 7,360
Customer service fees 3,737 3,774 7,447 7,451
Gain on sales of securities, net 50   50 34
Mortgage banking income 558 378 815 657
Bank-owned life insurance income 583 503 1,144 1,651
Customer derivative income 168 83 168 215
Other income 344 437 732 796
Total non-interest income 9,633 8,980 18,219 18,164
Non-interest expense        
Salaries and employee benefits 13,860 13,223 27,108 25,994
Occupancy and equipment 4,382 4,392 8,855 8,806
Gain on sales of premises and equipment, net (248) (86) (263) (99)
Outside services 462 424 800 780
Professional services 238 355 638 781
Communication 192 175 381 337
Marketing 521 476 1,088 885
Amortization of intangible assets 233 233 466 466
Acquisition, conversion and other expenses     20 20
Provision for unfunded commitments   45 (185) (130)
Other expenses 4,378 4,155 8,798 8,256
Total non-interest expense 24,018 23,392 47,706 46,096
Income before income taxes 12,789 13,628 25,453 30,216
Income tax expense 2,532 2,837 5,101 6,413
Net income $ 10,257 $ 10,791 $ 20,352 $ 23,803
Earnings per share:        
Basic (in dollars per share) $ 0.67 $ 0.71 $ 1.34 $ 1.57
Diluted (in dollars per share) $ 0.67 $ 0.71 $ 1.33 $ 1.57
Weighted average common shares outstanding:        
Basic (in shares) 15,227,457 15,139,057 15,212,897 15,124,533
Diluted (in shares) 15,275,421 15,179,939 15,272,679 15,185,782