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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 and leases $ 182,650 $ 115,368 $ 91,844
Interest and Dividend Income, Securities, Operating 8,203 4,472 3,410
Short-term investments 4,075 1,531 741
Total interest income 194,928 121,371 95,995
Interest expense      
Deposits 71,418 13,178 3,553
Federal Home Loan Bank advances and other borrowings 10,922 9,267 6,667
Junior subordinated notes 0 504 1,113
Total interest expense 82,340 22,949 11,333
Net interest income 112,588 98,422 84,662
Provision for credit losses 8,182 (3,868) (5,803)
Net interest income after provision for credit losses 104,406 102,290 90,465
Non-interest income      
Private wealth management service fees 11,425 10,881 10,784
Gain on sale of Small Business Administration loans 2,055 2,537 4,044
Service charges on deposits 3,131 3,849 3,837
Loan fees 3,363 3,010 2,506
Increase in cash surrender value of bank-owned life insurance 1,494 2,227 1,413
Net (loss) gain on sale of securities (45) 0 29
Swap fees 2,964 1,793 1,368
Other non-interest income 6,921 5,131 4,119
Total non-interest income 31,308 29,428 28,100
Non-interest expense      
Compensation 61,059 57,742 51,710
Occupancy 2,381 2,358 2,180
Professional fees 5,325 4,881 3,736
Data processing 3,826 3,197 3,087
Marketing 2,889 2,354 2,022
Equipment 1,340 1,091 990
Computer software 4,985 4,416 4,260
FDIC insurance 2,238 1,042 1,143
Other non-interest expense 4,532 2,393 2,407
Total non-interest expense 88,575 79,474 71,535
Income before income tax expense 47,139 52,244 47,030
Income tax expense 10,112 11,386 11,275
Net income 37,027 40,858 35,755
Preferred Stock Dividends and Other Adjustments 875 683 0
Net Income (Loss) Available to Common Stockholders, Basic $ 36,152 $ 40,175 $ 35,755
Earnings per common share:      
Basic $ 4.33 $ 4.75 $ 4.17
Diluted 4.33 4.75 4.17
Dividends declared per share $ 0.91 $ 0.79 $ 0.72