v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest and fee income:        
Loans, including fees $ 65,565 $ 56,016 $ 127,681 $ 108,947
Taxable securities 350 403 736 810
Nontaxable securities 159 174 317 348
Interest-bearing deposits in banks 6,253 3,987 10,940 7,562
Total interest and fee income 72,327 60,580 139,674 117,667
Interest expense:        
Deposits 25,082 22,904 47,811 44,852
Subordinated notes 1,162 1,161 2,323 2,323
Total interest expense 26,244 24,065 50,134 47,175
Net interest income 46,083 36,515 89,540 70,492
Provision for credit losses 2,250 2,500 4,925 4,400
Net interest income after provision for credit losses 43,833 34,015 84,615 66,092
Non-interest income:        
Service charges on deposit accounts 122 196 257 411
Gain on sale of loans 0 119 0 244
Loan-related fees 679 468 1,944 916
FHLB stock dividends 191 325 953 656
Earnings on bank-owned life insurance (“BOLI”) 265 220 490 381
Other 615 482 (129) 561
Total non-interest income 1,872 1,810 3,515 3,169
Non-interest expense:        
Salaries and employee benefits 11,421 8,910 22,851 18,044
Occupancy and equipment 873 657 1,702 1,294
Data processing and software 1,709 1,508 3,260 2,965
Federal Deposit Insurance Corporation (“FDIC”) insurance 585 470 1,130 925
Professional services 952 918 1,878 1,831
Advertising and promotional 959 865 1,703 1,387
Loan-related expenses 304 423 551 742
Other operating expenses 2,813 1,975 3,935 3,583
Total non-interest expense 19,616 15,726 37,010 30,771
Income before provision for income taxes 26,089 20,099 51,120 38,490
Provision for income taxes 6,690 5,591 13,100 10,871
Net income $ 19,399 $ 14,508 $ 38,020 $ 27,619
Basic earnings per common share (in USD per share) $ 0.91 $ 0.68 $ 1.79 $ 1.30
Diluted earnings per common share (in USD per share) $ 0.91 $ 0.68 $ 1.78 $ 1.30