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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income      
Loans, including fees $ 52,823 $ 48,657 $ 46,874
Securities:      
Taxable 15,583 10,260 5,891
Tax exempt 6,163 5,617 2,684
Other 491 84 266
Total interest income 75,060 64,618 55,715
Interest expense      
Deposits 5,845 3,305 4,178
Advances from Federal Home Loan Bank 117 22 220
Other 1,784 650 246
Total interest expense 7,746 3,977 4,644
Net interest income 67,314 60,641 51,071
Provision for loan losses 250 416 4,000
Net interest income after provision for loan losses 67,064 60,225 47,071
Noninterest income      
Customer service charges 9,350 8,628 7,252
Insurance and investment commissions 779 765 541
Mortgage servicing rights (Note 4) 1,007 2,335 3,180
Gains on sales of loans (Note 4) 1,336 4,441 8,133
Net (losses) gains on sales of securities (Note 2) (809) (40) 1,308
Net (losses) gains on sales and write-downs of other assets (Note 7) 99 6 (13)
Earnings on life insurance policies 1,312 809 772
Trust income 734 790 739
Change in market value of equity securities (955) 479 (155)
Other 1,219 981 941
Total noninterest income 14,072 19,194 22,698
Noninterest expense      
Salaries and benefits (Note 14 and 15) 30,391 29,300 26,539
Occupancy and equipment (Note 5) 6,189 6,168 5,783
Data processing 6,729 6,189 6,765
Professional fees 2,175 3,009 3,716
Supplies and postage 719 614 844
Advertising and promotional 764 848 588
Intangible amortization (Note 6) 1,153 1,307 1,498
FDIC insurance 722 804 450
Other 4,636 4,682 4,701
Total noninterest expense 53,478 52,921 50,884
Income before income tax 27,658 26,498 18,885
Income tax expense 4,018 4,456 3,272
Net income $ 23,640 $ 22,042 $ 15,613
Basic earnings per share (Note 16) (in dollars per share) $ 3.15 $ 2.87 $ 2.08
Diluted earnings per share (Note 16) (in dollars per share) 3.15 2.86 2.07
Dividends declared per share (in dollars per share) $ 1.01 $ 0.94 $ 0.82