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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income        
Loans, including fees $ 27,176 $ 22,704 $ 70,065 $ 68,140
Taxable securities 2,936 1,423 6,431 3,928
Tax-exempt securities 1,998 1,555 5,669 4,599
Deposits in other banks 423 102 1,098 341
Total interest and dividend income 32,533 25,784 83,263 77,008
Interest expense        
Deposits 936 970 2,351 3,366
Federal Home Loan Bank advances 181 194 564 968
Subordinated debentures 975 182 2,701 553
Securities sold under agreements to repurchase and other 2 5 8 19
Total interest expense 2,094 1,351 5,624 4,906
Net interest income 30,439 24,433 77,639 72,102
Provision for loan losses 300 0 1,000 830
Net interest income after provision for loan losses 30,139 24,433 76,639 71,272
Noninterest income        
Service charges 1,885 1,519 5,004 4,092
Net gain on sale of securities 4 4 10 1,787
Net gain (loss) on equity securities (133) 50 (44) 191
Net gain on sale of loans 637 1,612 2,146 6,575
ATM/Interchange fees 1,394 1,330 3,990 3,950
Wealth management fees 1,208 1,236 3,713 3,570
Bank owned life insurance 255 261 732 752
Tax refund processing fees     2,375 2,375
Swap fees   41   135
Other 484 373 1,086 1,214
Total noninterest income 5,734 6,426 19,012 24,641
Noninterest expense        
Compensation expense 12,484 11,390 36,654 34,578
Net occupancy expense 1,252 985 3,428 3,216
Equipment expense 637 444 1,694 1,340
Contracted data processing 846 429 1,899 1,362
FDIC assessment 170 247 568 829
State franchise tax 629 511 1,848 1,607
Professional services 1,335 776 3,593 2,255
Amortization of intangible assets 456 223 890 668
ATM/Interchange expense 604 594 1,659 1,843
Marketing 372 359 1,069 1,000
Software maintenance expense 942 819 2,440 1,872
Other operating expenses 2,828 2,474 7,450 10,132
Total noninterest expense 22,555 19,251 63,192 60,702
Income before taxes 13,318 11,608 32,459 35,211
Income tax expense 2,206 1,966 5,180 5,647
Net Income $ 11,112 $ 9,642 $ 27,279 $ 29,564
Earnings per common share, basic $ 0.72 $ 0.64 $ 1.82 $ 1.90
Earnings per common share, diluted $ 0.72 $ 0.64 $ 1.82 $ 1.90
Weighted average common shares, basic 15,323,294 15,096,162 14,907,539 15,479,424
Weighted average common shares, diluted 15,323,294 15,096,162 14,907,539 15,479,424