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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Interest and fees on loans $ 40,216 $ 38,695
Interest on deposits with banks 7,341 3,153
Interest on investment securities 1,743 1,848
Interest on tax-exempt loans and securities 730 1,067
Total interest income 50,030 44,763
INTEREST EXPENSE    
Interest on deposits 18,931 10,153
Interest on short-term borrowings 1 888
Interest on subordinated debt 809 799
Interest on senior term loan 150 194
Total interest expense 19,891 12,034
NET INTEREST INCOME 30,139 32,729
Provision for credit losses 1,997 4,576
Net interest income after provision for credit losses 28,142 28,153
NONINTEREST INCOME    
Payment card and service charge income 4,813 3,610
Insurance and investment services income 66 92
Gain (loss) on sale of available-for-sale securities, net 658 (1,536)
Loss on derivatives, net 0 (100)
Loss on sale of loans, net 0 (356)
Holding loss on equity securities (49) (308)
Compliance and consulting income 1,000 1,016
Equity method investments loss (1,128) (1,193)
Other operating income 2,474 1,842
Total noninterest income 7,834 3,067
NONINTEREST EXPENSES    
Salaries and employee benefits 16,489 16,746
Occupancy expense 864 792
Equipment depreciation and maintenance 1,216 1,457
Data processing and communications 1,459 1,148
Professional fees 5,737 2,951
Insurance, tax and assessment expense 892 904
Travel, entertainment, dues and subscriptions 1,551 1,922
Other operating expenses 1,983 2,397
Total noninterest expense 30,191 28,317
Income from continuing operations, before income taxes 5,785 2,903
Income taxes 1,283 465
Net income from continuing operations 4,502 2,438
Income from discontinued operations, before income taxes 0 11,831
Income taxes from discontinued operations 0 3,049
Net income from discontinued operations 0 8,782
Net income, before noncontrolling interest 4,502 11,220
Net (income) loss attributable to noncontrolling interest (20) 122
Net income attributable to parent $ 4,482 $ 11,342
Earnings per share from continuing operations - basic (in dollars per share) $ 0.35 $ 0.20
Earnings per share from discontinued operations - basic (in dollars per share) 0 0.70
Earnings per common shareholder - basic (in dollars per share) 0.35 0.90
Earnings per share from continuing operations - diluted (in dollars per share) 0.34 0.20
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0.67
Earnings per common shareholder - diluted (in dollars per share) $ 0.34 $ 0.87
Weighted-average shares outstanding - basic (in shares) 12,810,956 12,623,361
Weighted-average shares outstanding - diluted (in shares) 13,119,292 13,016,082