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Basis of Presentation (Tables) | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Segment Revenue, Profit or Loss, Significant Segment Expenses and Other Segment Items |
Segment revenue, profit or loss, significant segment expenses and other segment items | Three months ended |  | Nine months ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 | September 30, 2024
Community banking segment: |  |  |  |  |  |
Interest income | 39,069 |  |  | 36,319 |  |  | 110,596 |  | 104,797 |
Non-interest income | 2,181 |  |  | 2,182 |  |  | (11,741) |  | (25,957) |
Reconciliation of income |  |  |  |  |  |
All other income 1 | 564 |  |  | 706 |  |  | 1,739 |  | 1,844 |
Total consolidated income | 41,814 |  |  | 39,207 |  |  | 100,594 |  | 80,684 |
Less:2 |  |  |  |  |  |
Total interest expense | 10,876 |  |  | 12,050 |  |  | 31,545 |  | 35,367 |
Provision for credit losses on loans | — |  |  | — |  |  | 75 |  | 5,550 |
Provision for credit losses on unfunded loan commitments | — |  |  | (233) |  |  | — |  | (233) |
Non-interest expense |  |  |  |  |  |
Salaries and related benefits | 11,794 |  |  | 10,822 |  |  | 35,483 |  | 34,559 |
Occupancy and equipment | 2,079 |  |  | 1,871 |  |  | 6,410 |  | 6,113 |
Data processing | 1,042 |  |  | 892 |  |  | 3,129 |  | 2,564 |
Deposit network fees | 1,158 |  |  | 1,879 |  |  | 3,144 |  | 4,000 |
Information technology | 538 |  |  | 1,051 |  |  | 1,514 |  | 3,126 |
Charitable contributions | 56 |  |  | 358 |  |  | 575 |  | 1,125 |
Federal Deposit Insurance Corporation insurance | 459 |  |  | 404 |  |  | 1,268 |  | 1,254 |
Professional services | 960 |  |  | 103 |  |  | 2,501 |  | 332 |
Depreciation and amortization | 291 |  |  | 582 |  |  | 933 |  | 1,443 |
Directors' expense | 249 |  |  | 293 |  |  | 832 |  | 916 |
Amortization of core deposit intangible | 217 |  |  | 30 |  |  | 664 |  | 647 |
Other expense | 2,035 |  |  | 1,711 |  |  | 6,349 |  | 6,103 |
Segment income (loss) | 10,060 |  |  | 7,394 |  |  | 6,172 |  | (22,182) |
Reconciliation of segment income |  |  |  |  |  |
All other income 1 | 450 |  |  | 421 |  |  | 1,280 |  | 1,298 |
Income (loss) before income taxes | $ | 9,610 |  |  | $ | 6,973 |  |  | $ | 4,892 |  | $ | (23,480) |
1 Other income and loss from segment below the quantitative thresholds are attributable to one operating segment of the Bank, the Wealth Management and Trust Services, which does not meet the quantitative thresholds for presenting reportable segments. Expenses of Wealth Management and Trust Services are comprised of salary and employee benefits, professional services, data processing, occupancy and equipment and other expenses totaling $450 thousand, and $421 thousand for the three months ended September 30, 2025 and 2024, respectively, and $1.3 million and $1.3 million for the nine month periods ended September 30, 2025 and 2024, respectively.
2 The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
Schedule of Earnings (Loss) Per Share Reconciliation | The following table shows: 1) weighted average basic shares, 2) potentially dilutive weighted average common shares related to stock options and unvested restricted stock awards, and 3) weighted average diluted shares. Basic earnings (loss) per share (“EPS”) are calculated by dividing net income (loss) by the weighted average number of common shares outstanding during each period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average number of potentially dilutive common shares. The number of potentially dilutive common shares included in the quarterly diluted EPS is computed using the average market prices during the three months included in the reporting period under the treasury stock method. The number of potentially dilutive common shares included in year-to-date diluted EPS is a year-to-date weighted average of potentially dilutive common shares included in each quarterly diluted EPS computation. In computing diluted EPS, we exclude anti-dilutive shares such as options whose exercise prices exceed the current common stock price, as they would not reduce EPS under the treasury stock method. We have two forms of outstanding common stock: common stock and unvested restricted stock awards. Holders of unvested restricted stock awards receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Under the two-class method, the difference in EPS is nominal for these participating securities.
| Three months ended |  | Nine months ended
(in thousands, except per share data) | September 30, 2025 | September 30, 2024 |  | September 30, 2025 | September 30, 2024
Weighted average basic common shares outstanding | 15,907 |  | 16,038 |  |  | 15,957 |  | 16,076 |
Potentially dilutive common shares related to: |  |  |  |  |
Stock options | — |  | — |  |  | — |  | — |
Unvested restricted stock awards | 27 |  | 28 |  |  | 22 |  | — |
Weighted average diluted common shares outstanding | 15,934 |  | 16,066 |  |  | 15,979 |  | 16,076 |
Net income ( loss) | $ | 7,526 |  | $ | 4,570 |  |  | $ | 3,866 |  | $ | (14,410) |
Basic income (loss) per common share | $ | 0.47 |  | $ | 0.28 |  |  | $ | 0.24 |  | $ | (0.90) |
Diluted income (loss) per common share 1 | $ | 0.47 |  | $ | 0.28 |  |  | $ | 0.24 |  | $ | (0.90) |
Weighted average anti-dilutive common shares and unvested restricted shares not included in the calculation of diluted EPS | 220 |  | 296 |  |  | 256 |  | 392 |
1 Because Bancorp was in a net loss position for the nine months ended September 30, 2024, diluted net loss per share is the same as basic net loss per share, as the inclusion of potentially dilutive common shares would have been anti-dilutive.

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