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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income      
Loans and leases $ 115,368 $ 91,844 $ 89,160
Interest and Dividend Income, Securities, Operating 4,472 3,410 4,187
Short-term investments 1,531 741 832
Total interest income 121,371 95,995 94,179
Interest expense      
Deposits 13,178 3,553 8,922
Federal Home Loan Bank advances and other borrowings 9,267 6,667 7,070
Junior subordinated notes 504 1,113 1,116
Total interest expense 22,949 11,333 17,108
Net interest income 98,422 84,662 77,071
Provision for loan and lease losses (3,868) (5,803) 16,808
Net interest income after provision for loan and lease losses 102,290 90,465 60,263
Non-interest income      
Private wealth management service fees 10,881 10,784 8,611
Gain on sale of Small Business Administration loans 2,537 4,044 2,899
Service charges on deposits 3,849 3,837 3,415
Loan fees 3,010 2,506 1,826
Increase in cash surrender value of bank-owned life insurance 2,227 1,413 1,402
Net gain (loss) on sale of securities 0 29 (4)
Swap fees 1,793 1,368 6,860
Other non-interest income 5,131 4,119 1,931
Total non-interest income 29,428 28,100 26,940
Non-interest expense      
Compensation 57,742 51,710 45,850
Occupancy 2,358 2,180 2,252
Professional fees 4,881 3,736 3,530
Data processing 3,197 3,087 2,734
Marketing 2,354 2,022 1,580
Equipment 1,091 990 1,199
Computer software 4,416 4,260 3,900
FDIC insurance 1,042 1,143 1,238
Impairment of tax credit investments 0 0 2,395
Other non-interest expense 2,393 2,407 4,220
Total non-interest expense 79,474 71,535 68,898
Income before income tax expense 52,244 47,030 18,305
Income tax expense 11,386 11,275 1,327
Net income 40,858 35,755 16,978
Preferred Stock Dividends and Other Adjustments 683 0 0
Net Income (Loss) Available to Common Stockholders, Basic $ 40,175 $ 35,755 $ 16,978
Earnings per common share:      
Basic $ 4.75 $ 4.17 $ 1.97
Diluted 4.75 4.17 1.97
Dividends declared per share $ 0.79 $ 0.72 $ 0.66