XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income    
Loans, including fees $ 25,426 $ 22,550
Taxable securities 13,303 11,986
Tax-exempt securities 1,989 2,813
Federal funds sold and other 243 70
Total interest income 40,961 37,419
Interest expense    
Deposits 9,645 5,999
Federal funds purchased and repurchase agreements 286 1,560
Federal Home Loan Bank advances 1,127 632
Long-term debt 431 429
Subordinated debentures 755 667
Total interest expense 12,244 9,287
Net interest income 28,717 28,132
Credit loss expense - loans 97 250
Credit loss expense - unfunded commitments 30 10
Net interest income after provision for credit losses 28,590 27,872
Noninterest income    
Net (loss) gain on sale of securities available-for-sale (2,883) 45
Net gain on sale of fixed assets 3,799 14
Increase in cash surrender value of life insurance 1,215 172
Realized gain on available-for-sale securities 66  
Other income 666 968
Total noninterest income 8,589 6,579
Noninterest expense    
Salaries and employee benefits 13,197 12,816
Occupancy and equipment costs 3,025 2,330
Other 8,304 7,846
Total noninterest expense 24,526 22,992
Income before taxes 12,653 11,459
Provision for income taxes 3,323 2,708
Net income $ 9,330 $ 8,751
PER SHARE DATA    
Book value $ 23.56 $ 20.40
Cash dividends (in dollars per share) 0.23 0.23
Earnings per share basic (in dollars per share) 0.64 0.58
Earnings per share diluted (in dollars per share) $ 0.64 $ 0.58
Average shares outstanding, basic (in shares) 14,508,468 14,971,842
Average shares outstanding, diluted (in shares) 14,553,627 15,002,366
Total shareholders' equity $ 345,094 $ 307,010
Shares outstanding (in shares) 14,645,298 15,050,740
Dividends paid (in thousands) $ 3,396 $ 3,495
Deposit Account [Member]    
Noninterest income    
Service charges and fees on deposit accounts $ 5,726 $ 5,380