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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 13,739,000 $ 11,489,000 $ 39,445,000 $ 32,907,000
Interest on securities 5,098,000 5,157,000 15,279,000 15,442,000
Interest on federal funds sold 392,000 335,000 1,118,000 910,000
Interest on deposits with banks 1,917,000 3,368,000 5,540,000 11,189,000
Total interest income 21,146,000 20,349,000 61,382,000 60,448,000
INTEREST EXPENSE        
Deposits 3,491,000 1,411,000 9,194,000 2,559,000
Total interest expense 3,491,000 1,411,000 9,194,000 2,559,000
Net interest income 17,655,000 18,938,000 52,188,000 57,888,000
(Reversal of) provision for credit losses (1,620,000) 300,000 (1,620,000) (160,000)
Net interest income after (reversal of) provision for credit losses 19,275,000 18,638,000 53,808,000 58,048,000
NON-INTEREST INCOME        
Earnings on cash surrender value of life insurance 287,000 196,000 764,000 578,000
Gains on sales and calls of available-for-sale securities 0 13,000 114,000 156,000
Other 679,000 404,000 1,674,000 1,441,000
Total non-interest income 1,846,000 1,566,000 5,125,000 4,876,000
NON-INTEREST EXPENSE        
Salaries and employee benefits 7,177,000 6,505,000 21,700,000 19,280,000
Occupancy expenses 1,137,000 1,149,000 3,432,000 3,467,000
Data processing fees 659,000 788,000 2,099,000 2,018,000
Regulatory assessments (FDIC & DFPI) 240,000 305,000 790,000 720,000
Other operating expenses 2,111,000 1,831,000 6,448,000 4,912,000
Total non-interest expense 11,324,000 10,578,000 34,469,000 30,397,000
Net income before provision for income taxes 9,797,000 9,626,000 24,464,000 32,527,000
Total provision for income taxes 2,473,000 2,272,000 5,524,000 7,544,000
Net Income $ 7,324,000 $ 7,354,000 $ 18,940,000 $ 24,983,000
Net income per share (in dollars per share) $ 0.89 $ 0.9 $ 2.3 $ 3.05
Net income per diluted share (in dollars per share) $ 0.89 $ 0.89 $ 2.3 $ 3.04
Deposit Account [Member]        
NON-INTEREST INCOME        
Other income $ 437,000 $ 488,000 $ 1,255,000 $ 1,365,000
Debit Card [Member]        
NON-INTEREST INCOME        
Other income 436,000 459,000 1,297,000 1,322,000
Mortgage Banking [Member]        
NON-INTEREST INCOME        
Other income $ 7,000 $ 6,000 $ 21,000 $ 14,000