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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income      
Loans, including fees $ 89,580 $ 68,384 $ 52,823
Securities:      
Taxable 21,228 21,169 15,583
Tax exempt 5,614 5,629 6,163
Other 4,682 3,798 491
Total interest income 121,104 98,980 75,060
Interest expense      
Deposits 34,174 23,990 5,845
Advances from Federal Home Loan Bank 2,041 1,771 117
Other 10,447 7,334 1,784
Total interest expense 46,662 33,095 7,746
Net interest income 74,442 65,885 67,314
Provision for (reversal of) credit losses on loans (Note 3) 1,300 1,265 250
Provision for (reversal of) credit losses on unfunded commitments (Note 3) (675) (1,115) 0
Net Provision for (reversal of) credit losses expense (Note 3) 625 150 250
Net interest income after provision for credit losses 73,817 65,735 67,064
Noninterest income      
Customer service charges 4,774 4,601 4,561
Credit and debit card fees 5,797 4,746 4,789
Insurance and investment commissions 742 698 779
Gains on sales of loans (Note 4) 2,439 1,954 2,343
Net (losses) gains on sales of securities (Note 2) 0 (71) (809)
Net (losses) gains on sales and write-downs of other assets (Note 7) 198 147 99
Earnings on life insurance policies 1,934 1,096 1,312
Trust income 906 771 734
Change in market value of equity securities 195 (246) (955)
Other 1,010 1,210 1,219
Total noninterest income 17,995 14,906 14,072
Noninterest expense      
Salaries and benefits (Note 14 and 15) 33,408 31,963 30,391
Occupancy and equipment (Note 5) 5,797 6,048 6,189
Data processing 5,905 5,350 5,488
Communication 1,317 1,268 1,241
Professional fees 2,471 2,198 2,175
Supplies and postage 699 780 719
Advertising and promotional 788 721 764
Intangible amortization (Note 6) 757 955 1,153
FDIC insurance 1,335 1,184 722
Merger related expenses 1,039 0 0
Other 5,207 4,607 4,636
Total noninterest expense 58,723 55,074 53,478
Income before income tax expense 33,089 25,567 27,658
Income tax expense 6,362 4,306 4,018
Net income $ 26,727 $ 21,261 $ 23,640
Basic earnings per share (Note 16) $ 3.27 $ 2.82 $ 3.15
Diluted earnings per share (Note 16) 3.25 2.82 3.15
Dividends declared per share $ 1.09 $ 1.05 $ 1.01