v3.25.2
Consolidated Statements of Income - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME        
Loans, Including Fees $ 57,888,000 $ 51,385,000 $ 111,708,000 $ 100,966,000
Investment Securities 9,200,000 8,177,000 18,597,000 16,093,000
Other 2,110,000 1,316,000 4,601,000 2,488,000
Total Interest Income 69,198,000 60,878,000 134,906,000 119,547,000
INTEREST EXPENSE        
Deposits 32,497,000 31,618,000 64,600,000 61,808,000
Federal Funds Purchased 16,000 853,000 16,000 1,157,000
Notes Payable 260,000 296,000 518,000 591,000
FHLB Advances 2,852,000 2,125,000 5,008,000 4,383,000
Subordinated Debentures 1,121,000 990,000 2,104,000 1,981,000
Total Interest Expense 36,746,000 35,882,000 72,246,000 69,920,000
NET INTEREST INCOME 32,452,000 24,996,000 62,660,000 49,627,000
Provision for Credit Losses 2,000,000 600,000 3,500,000 1,350,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 30,452,000 24,396,000 59,160,000 48,277,000
NONINTEREST INCOME        
Customer Service Fees 496,000 366,000 991,000 708,000
Net Gain on Sales of Available for Sale Securities 474,000 320,000 475,000 413,000
Letters of Credit Fees 323,000 387,000 778,000 703,000
Debit Card Interchange Fees 152,000 155,000 289,000 296,000
Swap Fees 938,000   980,000  
Bank-Owned Life Insurance 387,000 312,000 766,000 613,000
FHLB Prepayment Income 301,000   301,000  
Investment Advisory Fees 213,000   538,000  
Other Income 343,000 223,000 588,000 580,000
Total Noninterest Income 3,627,000 1,763,000 5,706,000 3,313,000
NONINTEREST EXPENSE        
Salaries and Employee Benefits 11,363,000 9,675,000 22,734,000 19,108,000
Occupancy and Equipment 1,274,000 1,092,000 2,508,000 2,149,000
FDIC Insurance Assessment 750,000 725,000 1,200,000 1,600,000
Data Processing 625,000 472,000 1,244,000 884,000
Professional and Consulting Fees 1,110,000 852,000 2,104,000 1,741,000
Derivative Collateral Fees 372,000 528,000 823,000 1,014,000
Information Technology and Telecommunications 971,000 812,000 1,942,000 1,608,000
Marketing and Advertising 435,000 317,000 762,000 639,000
Intangible Asset Amortization 230,000 8,000 460,000 17,000
Other Expense 1,811,000 1,058,000 3,300,000 1,968,000
Total Noninterest Expense 18,941,000 15,539,000 37,077,000 30,728,000
INCOME BEFORE INCOME TAXES 15,138,000 10,620,000 27,789,000 20,862,000
Provision for Income Taxes 3,618,000 2,505,000 6,636,000 4,916,000
NET INCOME 11,520,000 8,115,000 21,153,000 15,946,000
Preferred Stock Dividends (1,014,000) (1,014,000) (2,027,000) (2,027,000)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 10,506,000 $ 7,101,000 $ 19,126,000 $ 13,919,000
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.38 $ 0.26 $ 0.7 $ 0.51
Diluted (in dollars per share) $ 0.38 $ 0.26 $ 0.68 $ 0.5