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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Loans, including fees $ 149,338 $ 112,660 $ 101,577
Investment securities:      
Taxable interest 11,537 9,647 4,301
Tax-exempt interest 367 481 339
Other investments and deposits 2,421 3,142 685
Total interest income 163,663 125,930 106,902
Interest Expense      
Deposits 27,504 5,215 5,230
Other borrowings expense 214 213 212
Subordinated debt expense 3,390 1,710 0
Short-term Federal Home Loan Bank advances 10,727 361 0
Long-term Federal Home Loan Bank advances 1,136 416 471
Total interest expense 42,971 7,915 5,913
Net interest income 120,692 118,015 100,989
Provision (reversal) for loan losses 2,341 7,489 (10,161)
Net interest income after provision for loan losses 118,351 110,526 111,150
Noninterest Income      
Gain on sale of loans, net 816 663 2,518
Income from bank-owned life insurance 1,045 915 2,603
Loss on sale of securities, net (249) 0 0
(Loss) gain on sale of assets, net (27) 26 (504)
Other income 1,008 1,082 1,017
Total noninterest income 14,636 13,885 16,271
Noninterest Expense      
Compensation and benefits 48,933 47,750 39,151
Occupancy 9,674 8,715 6,970
Marketing and advertising 2,146 2,263 1,871
Data processing and communication 9,372 9,307 8,500
Professional services 1,690 1,740 1,178
Forms, printing and supplies 781 766 644
Franchise and shares tax 1,755 2,108 1,475
Regulatory fees 2,040 2,122 1,317
Foreclosed assets, net (547) 523 453
Amortization of acquisition intangible 1,601 1,602 1,163
Provision for credit losses on unfunded commitments 501 278 390
Other expenses 4,895 4,735 3,870
Total noninterest expense 82,841 81,909 66,982
Income before income tax expense 50,146 42,502 60,439
Income tax expense 9,906 8,430 11,818
Net Income $ 40,240 $ 34,072 $ 48,621
Earnings per share:      
Basic (in usd per share) $ 5.02 $ 4.19 $ 5.80
Diluted (in usd per share) 4.99 4.16 5.77
Cash dividends declared per common share (in usd per share) $ 1.00 $ 0.93 $ 0.91
Service fees and charges      
Noninterest Income      
Fees and charges $ 4,992 $ 4,920 $ 4,702
Bank card fees      
Noninterest Income      
Fees and charges $ 7,051 $ 6,279 $ 5,935