XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans $ 47,550 $ 43,542 $ 139,700 $ 121,380
Investment securities 1,412 1,470 4,308 2,788
Federal funds sold and interest-bearing deposits with banks 2,209 2,435 6,072 4,295
Total interest income 51,171 47,447 150,080 128,463
Interest expense        
Deposits 27,725 25,130 82,873 64,245
Borrowings 2,855 2,972 8,443 5,623
Total interest expense 30,580 28,102 91,316 69,868
Net interest income 20,591 19,345 58,764 58,595
Provision for (reversal of) credit losses (500) 325 2,235
   Net interest income after provision for (reversal of) credit losses 20,591 19,845 58,439 56,360
Noninterest income        
Mortgage banking income 1,449 1,208 4,536 3,167
Service fees on deposit accounts 455 356 1,265 1,011
ATM and debit card income 599 588 1,730 1,680
Income from bank owned life insurance 401 349 1,162 1,018
Other income 271 249 669 653
Total noninterest income 3,175 2,750 9,362 7,529
Noninterest expenses        
Compensation and benefits 10,789 10,231 32,936 30,874
Occupancy 2,595 2,562 7,704 7,537
Outside service and data processing costs 1,930 1,744 5,738 5,078
Insurance 1,025 1,243 2,945 2,829
Professional fees 548 504 1,748 1,914
Marketing 319 293 1,077 994
Other 833 725 2,634 2,573
Total noninterest expenses 18,039 17,302 54,782 51,799
Income before income tax expense 5,727 5,293 13,019 12,090
Income tax expense 1,345 1,195 3,116 2,831
Net income $ 4,382 $ 4,098 $ 9,903 $ 9,259
Earnings per common share        
Basic $ 0.54 $ 0.51 $ 1.22 $ 1.15
Diluted $ 0.54 $ 0.51 $ 1.22 $ 1.15
Weighted average common shares outstanding        
Basic 8,064,283 8,052,926 8,100,003 8,043,410
Diluted 8,089,176 8,072,408 8,123,846 8,077,830