XML 91 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income          
Interest and fees on loans $ 26,254,000 $ 25,861,000 $ 25,483,000 $ 77,298,000 $ 75,612,000
Interest on investment securities 9,846,000 8,423,000 7,594,000 26,530,000 24,698,000
Interest on due from banks 2,969,000 2,004,000 3,242,000 6,768,000 4,487,000
Total interest income 39,069,000 36,288,000 36,319,000 110,596,000 104,797,000
Interest expense          
Interest on interest-bearing transaction accounts 328,000 351,000 339,000 1,022,000 874,000
Interest on savings accounts 600,000 587,000 565,000 1,720,000 1,447,000
Interest on money market accounts 8,376,000 7,878,000 8,714,000 23,880,000 25,804,000
Interest on time accounts 1,571,000 1,559,000 2,431,000 4,920,000 7,002,000
Interest on borrowings and other obligations 1,000 1,000 1,000 3,000 240,000
Total interest expense 10,876,000 10,376,000 12,050,000 31,545,000 35,367,000
Net interest income 28,193,000 25,912,000 24,269,000 79,051,000 69,430,000
Provision for credit losses on loans 0 0 0 75,000 5,550,000
Reversal of credit losses on unfunded loan commitments 0 0 (233,000) 0 (233,000)
Net interest income after provision for credit losses 28,193,000 25,912,000 24,502,000 78,976,000 64,113,000
Non-interest income          
Earnings on bank-owned life insurance, net 434,000 429,000 426,000 1,339,000 1,282,000
Dividends on Federal Home Loan Bank stock 366,000 362,000 365,000 1,103,000 1,108,000
Earnings on bank-owned life insurance death benefits 0 238,000 0 306,000 0
(Losses) gains on sale of investment securities 0 (18,736,000) 0 (18,736,000) (32,541,000)
Other income 342,000 424,000 358,000 1,118,000 1,062,000
Total non-interest income 2,745,000 (15,621,000) 2,888,000 (10,002,000) (24,113,000)
Non-interest expense          
Salaries and related benefits 12,004,000 12,045,000 10,822,000 36,099,000 35,270,000
Occupancy and equipment 2,079,000 2,226,000 2,097,000 6,411,000 6,115,000
Deposit network fees 1,158,000 1,054,000 927,000 3,144,000 2,688,000
Data processing 1,116,000 1,041,000 1,051,000 3,293,000 3,126,000
Professional services 1,115,000 908,000 1,879,000 2,960,000 4,000,000
Information technology 538,000 563,000 404,000 1,514,000 1,254,000
Federal Deposit Insurance Corporation insurance 459,000 421,000 582,000 1,268,000 1,443,000
Depreciation and amortization 291,000 320,000 358,000 933,000 1,125,000
Directors' expense 249,000 279,000 293,000 832,000 916,000
Amortization of core deposit intangible 217,000 220,000 241,000 664,000 738,000
Charitable contributions 56,000 116,000 30,000 575,000 647,000
Other expense 2,046,000 2,297,000 1,733,000 6,389,000 6,158,000
Total non-interest expense 21,328,000 21,490,000 20,417,000 64,082,000 63,480,000
Income (loss) before provision for (benefit from) income taxes 9,610,000 (11,199,000) 6,973,000 4,892,000 (23,480,000)
Provision for (benefit from) income taxes 2,084,000 (2,663,000) 2,403,000 1,026,000 (9,070,000)
Net income (loss) $ 7,526,000 $ (8,536,000) $ 4,570,000 $ 3,866,000 $ (14,410,000)
Net income (loss) per common share          
Basic (in dollars per share) $ 0.47 $ (0.53) $ 0.28 $ 0.24 $ (0.90)
Diluted (in dollars per share) $ 0.47 $ (0.53) $ 0.28 $ 0.24 $ (0.90)
Weighted average shares:          
Basic (in shares) 15,907 15,989 16,038 15,957 16,076
Diluted (in shares) 15,934 15,989 16,066 15,979 16,076
Comprehensive income:          
Net income (loss) $ 7,526,000 $ (8,536,000) $ 4,570,000 $ 3,866,000 $ (14,410,000)
Other comprehensive income:          
Change in net unrealized losses on available-for-sale securities 2,514,000 (486,000) 8,041,000 5,317,000 4,032,000
Reclassification adjustment for losses realized on the sale of available-for-sale securities in net loss 0 18,736,000 (1,000) 18,736,000 32,541,000
Reclassification adjustment for gains on fair value hedges 0 0 (1,584,000) 0 (85,000)
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 360,000 365,000 385,000 1,065,000 1,149,000
Other comprehensive income, before tax 2,874,000 18,615,000 6,841,000 25,118,000 37,637,000
Deferred tax expense 850,000 5,503,000 2,022,000 7,426,000 11,119,000
Other comprehensive income, net of tax 2,024,000 13,112,000 4,819,000 17,692,000 26,518,000
Total comprehensive income 9,550,000 4,576,000 9,389,000 21,558,000 12,108,000
Wealth management and trust services          
Non-interest income          
Wealth management and trust services, service charges on deposit accounts, debit card interchange fees, net and merchant interchange fees, net 564,000 612,000 706,000 1,739,000 1,844,000
Service charges on deposit accounts          
Non-interest income          
Wealth management and trust services, service charges on deposit accounts, debit card interchange fees, net and merchant interchange fees, net 547,000 550,000 543,000 1,645,000 1,613,000
Debit card interchange fees, net          
Non-interest income          
Wealth management and trust services, service charges on deposit accounts, debit card interchange fees, net and merchant interchange fees, net 405,000 410,000 423,000 1,211,000 1,275,000
Merchant interchange fees, net          
Non-interest income          
Wealth management and trust services, service charges on deposit accounts, debit card interchange fees, net and merchant interchange fees, net $ 87,000 $ 90,000 $ 67,000 $ 273,000 $ 244,000