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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income      
Loans and leases $ 216,899 $ 182,650 $ 115,368
Securities 11,912 8,203 4,472
Short-term investments 4,319 4,075 1,531
Total interest income 233,130 194,928 121,371
Interest expense      
Deposits 97,922 71,418 13,178
Federal Home Loan Bank advances and other borrowings 11,002 10,922 9,267
Junior subordinated notes 0 0 504
Total interest expense 108,924 82,340 22,949
Net interest income 124,206 112,588 98,422
Provision for credit losses 8,827 8,182 (3,868)
Net interest income after provision for credit losses 115,379 104,406 102,290
Non-interest income      
Private wealth management service fees 13,262 11,425 10,881
Gain on sale of Small Business Administration loans 1,942 2,055 2,537
Service charges on deposits 3,771 3,131 3,849
Loan fees 3,399 3,363 3,010
Increase in cash surrender value of bank-owned life insurance 1,649 1,494 2,227
Net loss on sale of securities (8) (45) 0
Swap fees 1,403 2,964 1,793
Other non-interest income 3,833 6,921 5,131
Total non-interest income 29,251 31,308 29,428
Non-interest expense      
Compensation 63,105 61,059 57,742
Occupancy 2,373 2,381 2,358
Professional fees 5,671 5,325 4,881
Data processing 4,892 3,826 3,197
Marketing 3,518 2,889 2,354
Equipment 1,314 1,340 1,091
Computer software 6,166 4,985 4,416
FDIC insurance 2,760 2,238 1,042
Other non-interest expense 3,681 4,532 2,393
Total non-interest expense 93,480 88,575 79,474
Income before income tax expense 51,150 47,139 52,244
Income tax expense 6,905 10,112 11,386
Net income 44,245 37,027 40,858
Preferred stock dividend 875 875 683
Net income available to common shareholders $ 43,370 $ 36,152 $ 40,175
Earnings per common share      
Basic $ 5.2 $ 4.33 $ 4.75
Diluted 5.2 4.33 4.75
Dividends declared per share $ 1 $ 0.91 $ 0.79