XML 42 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

The following tables present certain unaudited consolidated quarterly financial information regarding the Company’s results of operations for each of the eight consecutive quarters in the fiscal years of 2023 and 2022. This information is derived from unaudited consolidated financial statements that include, in the Company’s opinion, all adjustments necessary for a fair presentation when read in conjunction with the Company’s consolidated financial statements and notes thereto as of and for the years ended December 31, 2023 and 2022.

			2023
(in thousands, except per share data)			4th Quarter						3rd Quarter						2nd Quarter						1st Quarter
Interest and dividend income			$	32,041					$	30,324					$	28,471					$	27,732
Interest expense			10,747						9,599						6,961						4,823
Net interest income			21,294						20,725						21,510						22,909
Provision for credit losses			250						185						300						—
Net interest income after provision for credit losses			21,044						20,540						21,210						22,909
Noninterest income			5,187						5,581						6,007						4,340
Operating expenses			16,023						16,230						16,132						15,488
Income tax expense			1,916						1,870						2,117						2,163
Net income			$	8,292					$	8,021					$	8,968					$	9,598
Earnings per share
Basic			$	1.16					$	1.12					$	1.25					$	1.34
Diluted			$	1.16					$	1.12					$	1.25					$	1.33

			2022
(in thousands, except per share data)			4th Quarter						3rd Quarter						2nd Quarter						1st Quarter
Interest and dividend income			$	26,982					$	24,886					$	22,498					$	20,009
Interest expense			3,308						1,798						1,349						1,281
Net interest income			23,674						23,088						21,149						18,728
Provision for loan losses			750						600						250						150
Net interest income after provision for loan losses			22,924						22,488						20,899						18,578
Noninterest income			4,619						4,867						4,860						4,402
Operating expenses			15,082						15,041						14,471						14,062
Income tax expense			2,270						2,128						2,141						1,526
Net income			$	10,191					$	10,186					$	9,147					$	7,392
Earnings per share
Basic			$	1.42					$	1.42					$	1.27					$	1.03
Diluted			$	1.42					$	1.42					$	1.27					$	1.03

X

- References

No definition available.

+ Details

Name:	us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482964/270-10-50-1B

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 270
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//270/tableOfContent

+ Details

Name:	us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration