| FINANCIAL HIGHLIGHTS
Amounts in thousands, except per share data and
performance ratios
Year ended December 31,
2023 2022
Selected Results of Operations
Interest income $ 143,494 $ 100,739
Interest expense 48,497 10,631
Net interest income 94,997 90,108
Provision for credit losses and AFS impairment 3,168 4,274
Noninterest income 8,142 8,045
Noninterest expense 46,976 42,458
Provision for income taxes 13,288 12,964
Net income $ 39,707 $ 38,457
Per Share Data
Net income per common share - Basic $ 3.89 $ 3.66
Net income per common share - Diluted 3.84 3.59
Book value per common share 25.98 22.60
Market value per common share 29.59 27.33
Cash dividends declared on common shares 0.48 0.43
Selected Balance Sheet Data
Assets $ 2,578,507 $ 2,444,948
Loans 2,172,063 2,106,559
Allowance for credit losses (25,854) (25,196)
Securities 135,689 140,946
Deposits 1,924,140 1,787,528
Borrowed funds and subordinated debentures 366,748 393,310
Shareholders’ equity 261,430 239,227
Common shares outstanding 10,063 10,584
Performance Ratios
Return on average assets 1.63 % 1.80 %
Return on average equity 16.05 17.28
Efficiency ratio 45.55 42.69
Net interest margin 4.06 4.37 |