XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income    
Interest and fees on loans (includes YTD tax-exempt income of $721,000 for March 31, 2025 and $521,000 for March 31, 2024) $ 33,924 $ 30,204
Interest on deposits with other banks 56 78
Interest and dividends on investments (includes YTD tax-exempt income of $1,955,000 for March 31, 2025 and $1,995,000 for March 31, 2024) 4,729 4,706
     Total interest income 38,709 34,988
Interest expense    
Interest on deposits 19,269 19,177
Interest on borrowed funds 1,641 931
     Total interest expense 20,910 20,108
Net interest income 17,799 14,880
Credit loss expense - loans 396 99
Credit loss expense (reduction) - debt securities HTM 1 (252)
Credit loss reduction - off-balance sheet credit exposures (5) (360)
Total credit loss expense (reduction) 392 (513)
Net interest income after provision for credit losses 17,407 15,393
Non-interest income    
Other operating income 789 637
     Total non-interest income 4,002 3,640
Non-interest expense    
Salaries and employee benefits 6,850 6,057
Occupancy expense 877 866
Furniture and equipment expense 1,462 1,389
FDIC insurance premiums 694 564
Amortization of identified intangibles 7 7
Other operating expense 2,954 2,878
     Total non-interest expense 12,844 11,761
Income before income taxes 8,565 7,272
Income tax expense 1,488 1,251
NET INCOME $ 7,077 $ 6,021
Basic earnings per common share (usd per share) $ 0.64 $ 0.55
Diluted earnings per common share (usd per share) $ 0.63 $ 0.54
Other comprehensive income (loss) net of tax    
Net unrealized gain (loss) on securities available for sale, net of taxes $ 3,969 $ (3,241)
Net unrealized gain on transferred securities, net of taxes 2 2
Net unrealized (loss) gain on hedging derivative instruments (75) 435
Other comprehensive gain (loss) 3,896 (2,804)
Comprehensive income 10,973 3,217
Investment management and fiduciary income    
Non-interest income    
Non-interest income 1,317 1,188
Service charges on deposit accounts    
Non-interest income    
Non-interest income 531 499
Mortgage origination and servicing income, net of amortization    
Non-interest income    
Non-interest income 195 130
Debit card income    
Non-interest income    
Non-interest income $ 1,170 $ 1,186