XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 27,909 $ 23,925 $ 80,684 $ 68,541
Interest on securities 4,334 3,404 12,465 10,635
Interest on federal funds sold 0 0 0 886
Interest on deposits in other banks 2,630 2,950 8,378 6,359
Dividends on stock 28 45 73 106
Total Interest and Dividend Income 34,901 30,324 101,600 86,527
INTEREST EXPENSE        
Interest on deposits 12,444 9,562 35,993 21,319
Interest on other borrowed funds 0 37 0 64
Total Interest Expense 12,444 9,599 35,993 21,383
Net Interest Income 22,457 20,725 65,607 65,144
Provision for credit losses 300 185 900 485
Net Interest Income After Provision for Credit Losses 22,157 20,540 64,707 64,659
NONINTEREST INCOME        
Service charges on deposit accounts 1,486 1,489 4,223 4,317
Debit card income, net 905 830 2,875 2,687
Mortgage loan income 732 604 1,838 1,524
Brokerage income 987 1,029 2,867 2,759
Loan and deposit income 588 571 1,572 1,566
Bank-owned life insurance income 217 191 635 557
Gain (Loss) on equity securities 107 (113) 63 (145)
SBIC income 301 920 1,107 2,479
Other income (loss) 96 60 266 184
Total Noninterest Income 5,419 5,581 15,446 15,928
OPERATING EXPENSES        
Personnel expenses 9,700 9,461 28,854 28,008
Occupancy and equipment expenses 1,661 1,663 4,975 4,933
Technology expenses 865 675 2,298 2,066
Advertising 317 331 1,061 955
Other business development expenses 521 522 1,589 1,451
Data processing expense 652 651 1,650 1,689
Other taxes 622 664 1,859 2,042
Loan and deposit expenses 294 238 561 728
Legal and professional expenses 653 616 2,000 1,714
Regulatory assessment expenses 421 419 1,226 1,223
Other operating expenses 1,046 990 3,241 3,041
Total Operating Expenses 16,752 16,230 49,314 47,850
Income Before Income Tax Expense 10,824 9,891 30,839 32,737
Income tax expense 2,070 1,870 5,910 6,150
Net Income $ 8,754 $ 8,021 $ 24,929 $ 26,587
EARNINGS PER SHARE        
Basic (in dollars per share) $ 1.28 $ 1.12 $ 3.60 $ 3.70
Diluted (in dollars per share) $ 1.27 $ 1.12 $ 3.59 $ 3.70