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Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income:        
Interest and fees on loans $ 17,960 $ 14,893 $ 35,086 $ 28,660
Interest on investments 2,817 1,810 5,364 3,419
Total interest and dividend income 20,777 16,703 40,450 32,079
Interest expense:        
Interest on deposits 6,162 985 10,510 2,053
Interest on FHLB and FRB borrowed funds 1,892 297 3,385 608
Interest on other borrowed funds 1,037 1,154 2,074 1,984
Total interest expense 9,091 2,436 15,969 4,645
Net interest income before provision for credit losses 11,686 14,267 24,481 27,434
Provision for credit losses 450 400 500 400
Net interest income after provision for credit losses 11,236 13,867 23,981 27,034
Non-interest income:        
Service charges on deposit accounts 488 482 973 970
Interchange income 591 614 1,142 1,163
Loan servicing income 499 600 1,068 1,301
Gain on sale of loans 904 414 1,202 1,136
Loan fees and service charges 88 141 168 233
Net gains (losses) on investment securities 10 (75) 66 (112)
Other 333 196 586 394
Total non-interest income 2,913 2,372 5,205 5,085
Non-interest expense:        
Compensation and related benefits 5,336 5,589 10,674 10,987
Occupancy 1,359 1,343 2,782 2,708
Data processing 1,444 1,415 2,904 2,716
Amortization of intangible assets 193 399 397 798
Mortgage servicing rights expense, net 148 195 306 (132)
Advertising, marketing and public relations 151 250 287 462
FDIC premium assessment 203 118 404 233
Professional services 306 368 811 770
Gain on repossessed assets, net (9) (2) (38) (9)
New market tax credit depletion 0 162 0 325
Other 715 625 1,440 1,272
Total non-interest expense 9,846 10,462 19,967 20,130
Income before provision for income taxes 4,303 5,777 9,219 11,989
Provision for income taxes 1,097 1,411 2,351 2,917
Net income attributable to common stockholders $ 3,206 $ 4,366 $ 6,868 $ 9,072
Per share information:        
Basic earnings (USD per share) $ 0.31 $ 0.41 $ 0.66 $ 0.86
Diluted earnings (USD per share) 0.31 0.41 0.66 0.86
Cash dividends paid (USD per share) $ 0 $ 0 $ 0.29 $ 0.26