XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans $ 36,233 $ 28,744
Investment securities - taxable 4,584 4,370
Investment securities - tax-exempt 877 865
Short-term investments 956 298
Total interest income 42,650 34,277
Interest expense    
Deposits 13,516 6,202
Securities sold under agreements to repurchase and federal funds purchased 25 25
FHLB advances and other borrowings 1,474 1,252
Subordinated notes 754 504
Total interest expense 15,769 7,983
Net interest income 26,881 26,294
Provision for credit losses 298 729
Net interest income after provision for credit losses 26,583 25,565
Noninterest income    
Service charges on deposit accounts 1,005 962
Interchange income 911 965
Other service charges, commissions and fees 195 195
Swap fee income 199 0
Trust and investment management income 2,024 1,888
Brokerage income 1,078 859
Mortgage banking activities 458 478
Income from life insurance 634 590
Investment securities losses (5) (8)
Other income 131 149
Total noninterest income 6,630 6,078
Noninterest expenses    
Salaries and employee benefits 13,752 12,196
Occupancy 1,201 1,106
Furniture and equipment 1,438 1,227
Data processing 1,265 1,217
Automated teller and interchange fees 351 298
Advertising and bank promotions 398 405
FDIC insurance 441 504
Professional services 631 734
Directors' compensation 251 247
Taxes other than income 494 457
Intangible asset amortization 225 250
Merger-related expenses 672 0
Other operating expenses 1,350 1,614
Total noninterest expenses 22,469 20,255
Income before income tax expense 10,744 11,388
Income tax expense 2,213 2,232
Net income $ 8,531 $ 9,156
Per share information:    
Basic earnings per share (in usd per share) $ 0.82 $ 0.88
Diluted earnings per share (in usd per share) 0.81 0.87
Dividends paid per share (in usd per share) $ 0.20 $ 0.20