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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Interest and fees on loans $ 38,346 $ 37,131
Interest on securities, deposit accounts, and federal funds sold 4,185 3,759
Total interest income 42,531 40,890 CloseClose
INTEREST EXPENSE    
Interest on deposits 18,485 11,331
Interest on subordinated notes 560 553
Interest on FHLB and FRB borrowings 3,137 3,810
Total interest expense 22,182 15,694 Close
Net interest income 20,349 25,196 Close
(Recovery of) provision for credit losses - loans 0 (1,110) CloseCloseCloseClose
(Recovery of) provision for credit losses - unfunded commitments (1,000) (400) CloseCloseCloseClose
Total (recovery of) provision for credit losses (1,000) (1,510) CloseCloseCloseClose
Net interest income after (recovery of) provision for credit losses 21,349 26,706 CloseCloseCloseClose
NONINTEREST INCOME     CloseCloseCloseClose
Fair value adjustments of other equity investments (7) (51) CloseCloseCloseClose
Residential mortgage banking income 2,664 3,199 CloseCloseCloseClose
Mortgage servicing rights 729 (1,896) CloseCloseCloseClose
Gain on sale of guaranteed government loans 110 2,409 CloseCloseCloseClose
Wealth and trust management 520 432 CloseCloseCloseClose
Service charges on deposit accounts 398 343 CloseCloseCloseClose
Increase in cash surrender value of bank owned life insurance 337 282 CloseCloseCloseClose
Bank and purchase card, net 242 340 CloseCloseCloseClose
Other 2,832 2,225 CloseCloseCloseClose
Total noninterest income 7,825 7,283 CloseCloseCloseCloseClose
NONINTEREST EXPENSE     CloseCloseCloseClose
Salaries and employee benefits 16,045 15,289 CloseCloseCloseClose
Occupancy and equipment 1,524 1,569 CloseCloseCloseClose
Data processing 1,106 1,346 CloseCloseCloseClose
Legal and regulatory filings 447 1,234 CloseCloseCloseClose
Advertising and marketing 297 286 CloseCloseCloseClose
Communications 1,173 1,131 CloseCloseCloseClose
Audit and accounting fees 1,155 146 CloseCloseCloseClose
FDIC insurance 1,377 729 CloseCloseCloseClose
Intangible amortization 287 355 CloseCloseCloseClose
Other contractual services 1,717 939 CloseCloseCloseClose
Other taxes and assessments 943 802 CloseCloseCloseClose
Regulatory remediation 2,644 1,134 CloseCloseCloseClose
Other 3,759 3,887 CloseCloseCloseClose
Total noninterest expense 32,474 28,847 CloseCloseCloseCloseCloseCloseClose
Total Other Income Expenses 103961.0 103660.0 0.0 0.0 0.0 Close Close
Total Other Income Expenses 101961.0 105080.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 101961.0 102860.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 103961.0 105880.0 0.0 0.0 0 Close Close
(Loss) income before income tax expense (3,300) 5,142 CloseCloseClose
Total NonInterest Income Expenses -24649.0 -21564.0 0.0 0 0 Close
Income tax (benefit) expense (407) 1,172 Close
Net (loss) income $ (2,893) $ 3,970 Close
Basic (loss) earnings per share $ (0.15) $ 0.21
Diluted (loss) earnings per share $ (0.15) $ 0.21