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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 $ 166,137 $ 114,233 $ 91,599
Investment securities 4,463 1,990 1,335
Federal funds sold and interest-bearing deposits with banks 6,998 1,439 233
Total interest income 177,598 117,662 93,167
Interest expense      
Deposits 91,373 18,102 3,909
Borrowings 8,571 1,939 1,526
Total interest expense 99,944 20,041 5,435
Net interest income 77,654 97,621 87,732
Provision for (reversal of) credit losses 1,260 6,155 (12,400)
Net interest income after provision for credit losses 76,394 91,466 100,132
Noninterest income      
Mortgage banking income 4,036 4,198 11,376
Service fees on deposit accounts 1,382 1,265 1,174
ATM and debit card income 2,245 2,163 2,037
Income from bank owned life insurance 1,379 1,289 1,231
Net lender fees on PPP loan sale 268
Gain (loss) on disposal of fixed assets (394) 10
Gain (loss) on sale of securities 12 (3)
Other income 818 1,047 1,008
Total noninterest income 9,860 9,580 17,101
Noninterest expenses      
Compensation and benefits 40,275 38,790 36,103
Occupancy 10,255 9,105 6,956
Other real estate owned expenses, net 385
Outside service and data processing costs 7,078 6,112 5,468
Insurance 3,766 1,686 1,149
Professional fees 2,496 2,635 2,589
Marketing 1,357 1,216 905
Other 3,600 3,389 2,875
Total noninterest expenses 68,827 62,933 56,430
Income before income tax expense 17,427 38,113 60,803
Income tax expense 4,001 8,998 14,092
Net income available to common shareholders $ 13,426 $ 29,115 $ 46,711
Earnings per common share      
Basic $ 1.67 $ 3.66 $ 5.96
Diluted $ 1.66 $ 3.61 $ 5.85
Weighted average common shares outstanding      
Basic 8,046,633 7,958,294 7,843,692
Diluted 8,078,454 8,071,690 7,988,980