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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest and fees on loans:    
Taxable $ 55,212 $ 34,041
Tax-exempt 2,245 1,418
Interest and dividends on investment securities:    
Taxable 4,134 1,918
Tax-exempt 396 371
Dividends 41 2
Interest on interest-bearing deposits in other banks 113 120
Interest on federal funds sold 285 1,127
Total interest income 62,426 38,997
Interest expense:    
Interest on deposits 20,847 18,704
Interest on short-term borrowings 225 262
Interest on long-term debt 1,177 270
Interest on subordinated debt 443 443
Interest on junior subordinated debt 186  
Total interest expense 22,878 19,679
Net interest income 39,548 19,318
Provision for (credit to) credit losses 200 708
Net interest income after provision for credit losses 39,348 18,610
Noninterest income:    
Mortgage banking income 114 92
Increase in cash surrender value of life insurance 526 279
Interest rate swap gain 43 (24)
Net gains (losses) on equity investment securities 71 (8)
Net gains (losses) on fixed assets 680 (9)
Total noninterest income 6,256 3,393
Noninterest expense:    
Salaries and employee benefits expense 13,481 8,839
Net occupancy and equipment expense 6,610 4,716
Acquisition related expenses 154 486
Amortization of CDI and other intangibles 1,683 0
Professional fees and outside services 1,011 688
FDIC insurance and assessments 1,022 594
Advertising and corporate business development 859 566
Other expenses 2,533 2,170
Total noninterest expense 27,353 18,059
Income before income taxes 18,251 3,944
(Benefit) provision for income tax expense 3,242 478
Net income 15,009 3,466
Other comprehensive income (loss):    
Unrealized gain (loss) on investment securities available for sale 5,572 (2,441)
Change in derivative fair value (148) 1,079
Other comprehensive income (loss) 5,424 (1,362)
Income tax expense (benefit) related to other comprehensive income (loss) 1,183 (298)
Other comprehensive income (loss), net of income tax expense (benefit) 4,241 (1,064)
Comprehensive income (loss) $ 19,250 $ 2,402
Per share data:    
Basic $ 1.5 $ 0.49
Diluted $ 1.49 $ 0.49
Weighted average common shares outstanding:    
Basic 9,992,922 7,052,912
Diluted 10,043,186 7,102,112
Dividends declared $ 0.6175 $ 0.41
Service charges, fees, commissions and other    
Noninterest income:    
Revenue from contracts with customers $ 3,404 $ 2,036
Merchant services income    
Noninterest income:    
Revenue from contracts with customers 231 115
Commission and fees on fiduciary activities    
Noninterest income:    
Revenue from contracts with customers 537 551
Wealth management income    
Noninterest income:    
Revenue from contracts with customers $ 650 $ 361