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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans $ 12,623 $ 7,156 $ 23,999 $ 14,347
Investment securities:        
Taxable 2,379 1,417 4,696 2,408
Tax-exempt 775 730 1,561 1,452
Interest-bearing deposits at banks 49 126 147 188
Total interest income 15,826 9,429 30,403 18,395
Interest expense:        
Deposits 3,452 358 5,991 553
Subordinated debentures 387 165 751 288
Borrowings 1,154 8 1,881 11
Total interest expense 4,993 531 8,623 852
Net interest income 10,833 8,898 21,780 17,543
Provision (benefit) for credit losses 250 299 (500)
Net interest income after provision (benefit) for credit losses 10,583 8,898 21,481 18,043
Non-interest income:        
Fees and service charges 2,481 2,380 4,839 4,568
Gains on sales of loans, net [1] 830 1,073 1,523 1,978
Increase in cash surrender value of bank owned life insurance [1] 223 190 441 377
Other 295 153 521 436
Total non-interest income 3,829 3,796 7,324 7,359
Non-interest expense:        
Compensation and benefits 5,572 4,953 11,114 9,728
Occupancy and equipment 1,394 1,177 2,763 2,410
Data processing 431 362 1,020 702
Amortization of mortgage servicing rights and other intangibles 472 335 933 651
Professional fees 607 415 1,098 866
Acquisition costs 221 221
Other 1,873 1,559 3,764 3,282
Total non-interest expense 10,349 9,022 20,692 17,860
Earnings before income taxes 4,063 3,672 8,113 7,542
Income tax expense 701 639 1,394 1,376
Net earnings $ 3,362 $ 3,033 $ 6,719 $ 6,166
Earnings per share:        
Basic [2],[3] $ 0.64 $ 0.58 $ 1.29 $ 1.18
Diluted [2],[3] 0.64 0.58 1.29 1.17
Dividends per share [2] $ 0.21 $ 0.20 $ 0.42 $ 0.40
[1] Not within the scope of ASC 606.
[2] Per share amounts for the periods ended June 30, 2022 have been adjusted to give effect to the 5% stock dividend paid during December 2022.
[3] Share and per share values for the periods ended June 30, 2022 have been adjusted to give effect to the 5%