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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME:        
Interest and fees on loans $ 17,382 $ 12,883 $ 34,159 $ 25,044
Interest on deposits in other banks 1,374 52 1,449 109
Interest and dividends on investment securities:        
Taxable 5,826 5,651 11,712 10,175
Exempt from Federal income taxes 1,405 1,879 2,810 3,319
Total interest income 25,987 20,465 50,130 38,647
INTEREST EXPENSE:        
Interest on deposits 4,871 231 5,876 483
Interest on short-term borrowings 0 91 661 91
Interest on senior debt and subordinated debentures 911 333 1,807 666
Total interest expense 5,782 655 8,344 1,240
Net interest income before (credit) provision for credit losses 20,205 19,810 41,786 37,407
(CREDIT) PROVISION FOR CREDIT LOSSES (343) 0 290 0
Net interest income after (credit) provision for credit losses 20,548 19,810 41,496 37,407
NON-INTEREST INCOME:        
Service charges 367 544 755 1,083
Net realized losses on sales and calls of investment securities (39) (969) (257) (763)
Other income 1,266 1,195 2,671 2,284
Total non-interest income 1,594 770 3,169 2,604
NON-INTEREST EXPENSES:        
Salaries and employee benefits 7,976 7,057 16,010 14,001
Occupancy and equipment 1,264 1,344 2,521 2,506
Total other non-interest expense 4,565 3,682 8,479 7,021
Total non-interest expenses 13,805 12,083 27,010 23,528
Income before provision for income taxes 8,337 8,497 17,655 16,483
Provision for income taxes 2,055 1,955 4,403 3,855
Net income $ 6,282 $ 6,542 $ 13,252 $ 12,628
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.54 $ 0.56 $ 1.13 $ 1.08
Weighted average common shares used in basic computation (in shares) 11,723,127 11,665,074 11,713,524 11,746,795
Diluted earnings per common share (in dollars per share) $ 0.54 $ 0.56 $ 1.13 $ 1.07
Weighted average common shares used in diluted computation (in shares) 11,740,390 11,685,850 11,738,037 11,778,127
Cash dividends per common share (in dollars per share) $ 0.12 $ 0.12 $ 0.24 $ 0.24