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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Loans and leases $ 39,814 $ 23,072
Securities 1,590 975
Short-term investments 660 188
Total interest income 42,064 24,235
Interest expense    
Deposits 12,430 766
Federal Home Loan Bank advances and other borrowings 2,929 1,539
Junior subordinated notes 0 504
Total interest expense 15,359 2,809
Net interest income 26,705 21,426
Provision for credit losses 1,561 (855)
Net interest income after provision for credit losses 25,144 22,281
Non-interest income    
Private wealth management service fees 2,654 2,841
Gain on sale of Small Business Administration loans 476 585
Service charges on deposits 682 999
Loan fees 803 652
Increase in cash surrender value of bank-owned life insurance 366 349
Swap fees 557 225
Other non-interest income 2,872 1,735
Total non-interest income 8,410 7,386
Non-interest expense    
Compensation 15,908 13,638
Occupancy 631 555
Professional fees 1,343 1,170
Data processing 875 780
Marketing 628 500
Equipment 295 244
Computer software 1,183 1,082
FDIC insurance 394 313
Other non-interest expense 510 541
Total non-interest expense 21,767 18,823
Income before income tax expense 11,787 10,844
Income tax expense 2,808 2,172
Net income 8,979 8,672
Preferred stock dividend 219 0
Basic earnings allocated to common shareholders $ 8,760 $ 8,672
Earnings per common share    
Basic $ 1.05 $ 1.02
Diluted 1.05 1.02
Dividends declared per share $ 0.2275 $ 0.1975