v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest and dividend income        
Loans $ 49,151 $ 42,726 $ 97,809 $ 84,530
Securities and other 6,319 5,474 12,523 10,757
Federal Home Loan Bank stock 183 212 338 349
Interest-earning deposits with other banks 253 276 486 590
Total interest and dividend income 55,906 48,688 111,156 96,226
Interest expense        
Deposits 14,638 15,511 29,527 31,023
Borrowings 3,349 3,282 6,838 6,301
Total interest expense 17,987 18,793 36,365 37,324
Net interest income 37,919 29,895 74,791 58,902
Provision for credit losses on available-for-sale debt securities       636
Provision for credit losses on loans 1,250 528 1,555 471
Net interest income after provision for credit losses 36,669 29,367 73,236 57,795
Non-interest income        
Trust and investment management fee income 4,577 4,263 8,692 8,179
Customer service fees 4,715 3,589 8,817 7,114
Loss on available-for-sale debt securities, net (25) (4,942) (1,033) (4,942)
Mortgage banking income 741 605 1,423 1,061
Bank-owned life insurance income 1,417 602 3,404 1,216
Customer derivative income 76 104 405 316
Other income 231 425 438 620
Total non-interest income 11,732 4,646 22,146 13,564
Non-interest expense        
Salaries and employee benefits 16,833 14,274 32,606 28,007
Occupancy and equipment 4,292 3,546 8,328 6,871
Depreciation 1,088 1,023 2,222 2,072
Loss on premises and equipment, net   3 134 93
Outside services 528 457 992 939
Professional services 388 514 737 1,106
Communication 211 194 459 360
Marketing 570 682 1,175 1,200
Amortization of intangible assets 582 233 1,164 466
FDIC assessment 537 464 1,114 920
Acquisition, conversion and other expenses (36) 1,205 1,419 1,444
Provision (credit) for unfunded commitments (650)   (876) (74)
Other expenses 4,839 3,943 9,535 7,785
Total non-interest expense 29,182 26,538 59,009 51,189
Income before income taxes 19,219 7,475 36,373 20,170
Income tax expense 3,998 1,383 7,615 3,867
Net income $ 15,221 $ 6,092 $ 28,758 $ 16,303
Earnings per share:        
Basic (in dollars per share) $ 0.91 $ 0.4 $ 1.72 $ 1.06
Diluted (in dollars per share) $ 0.91 $ 0.4 $ 1.71 $ 1.06
Weighted average common shares outstanding:        
Basic (in shares) 16,750,996 15,320,665 16,739,703 15,312,202
Diluted (in shares) 16,808,474 15,372,201 16,805,616 15,382,066