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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Loans, including fees $ 15,931 $ 13,179 $ 30,820 $ 25,557
AFS securities        
Taxable 2,382 2,027 4,884 3,642
Nontaxable 665 704 1,383 1,364
Federal funds sold and other 517 192 1,003 301
Total interest income 19,495 16,102 38,090 30,864
Interest expense        
Deposits 4,109 854 6,938 1,790
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase 171 8 320 17
Interest Expense Federal Home Loan Bank Advances 270 47 270 119
Interest Expense, Subordinated Notes and Debentures 266 266 532 532
Total interest expense 4,816 1,175 8,060 2,458
Net interest income 14,679 14,927 30,030 28,406
Provision for loan losses 196 485 237 522
Net interest income after provision for loan losses 14,483 14,442 29,793 27,884
Noninterest income        
Noninterest Income, Service Charges and Fees 2,047 2,284 4,025 4,493
Noninterest Income Investment and Trust Advisory Fees 981 784 1,767 1,538
Earnings on corporate owned life insurance policies 226 222 452 432
Net gain on sale of mortgage loans 56 170 123 394
Other 294 135 530 285
Total noninterest income 3,604 3,595 6,897 7,142
Noninterest expenses        
Compensation and benefits 6,561 6,037 13,150 12,111
Furniture and equipment 1,613 1,442 3,210 2,892
Occupancy 993 929 1,998 1,895
Other 3,372 3,253 6,379 6,083
Total noninterest expenses 12,539 11,661 24,737 22,981
Income before federal income tax expense 5,548 6,376 11,953 12,045
Federal Income Tax Expense (Benefit), Continuing Operations 918 1,081 2,002 2,016
NET INCOME $ 4,630 $ 5,295 $ 9,951 $ 10,029
Earnings per share        
Basic (in dollars per share) $ 0.62 $ 0.70 $ 1.32 $ 1.33
Diluted (in dollars per share) 0.61 0.69 1.31 1.31
Cash dividends per basic share (in dollars per share) $ 0.28 $ 0.27 $ 0.56 $ 0.54