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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Loans, including fees $ 17,270 $ 13,563 $ 48,090 $ 39,120
AFS securities        
Taxable 2,327 2,209 7,211 5,851
Nontaxable 636 726 2,019 2,090
Federal funds sold and other 252 521 1,255 822
Total interest income 20,485 17,019 58,575 47,883
Interest expense        
Deposits 5,015 908 11,953 2,698
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase 284 9 604 26
Interest Expense Federal Home Loan Bank Advances 617 33 887 152
Interest Expense, Subordinated Notes and Debentures 267 266 799 798
Total interest expense 6,183 1,216 14,243 3,674
Net interest income 14,302 15,803 44,332 44,209
Provision for loan losses (292) 18 (55) 540
Net interest income after provision for loan losses 14,594 15,785 44,387 43,669
Noninterest income        
Noninterest Income, Service Charges and Fees 2,060 2,122 6,085 6,615
Noninterest Income Investment and Trust Advisory Fees 858 679 2,625 2,217
Earnings on corporate owned life insurance policies 229 223 681 655
Net gain on sale of mortgage loans 109 174 232 568
Other 158 54 688 339
Total noninterest income 3,414 3,252 10,311 10,394
Noninterest expenses        
Compensation and benefits 6,639 6,369 19,789 18,480
Furniture and equipment 1,612 1,490 4,822 4,382
Occupancy 923 918 2,921 2,813
Other 3,484 3,140 9,863 9,223
Total noninterest expenses 12,658 11,917 37,395 34,898
Income before federal income tax expense 5,350 7,120 17,303 19,165
Federal Income Tax Expense (Benefit), Continuing Operations 937 1,233 2,939 3,249
NET INCOME $ 4,413 $ 5,887 $ 14,364 $ 15,916
Earnings per share        
Basic (in dollars per share) $ 0.59 $ 0.78 $ 1.91 $ 2.11
Diluted (in dollars per share) 0.58 0.77 1.89 2.08
Cash dividends per basic share (in dollars per share) $ 0.28 $ 0.27 $ 0.84 $ 0.81