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Interim Condensed 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 interest income $ 20,230 $ 17,270 $ 57,150 $ 48,090
Interest Income, Debt Securities, Available-for-Sale, Operating 2,749 2,963 8,437 9,230
FHLB stock dividend income 168 91 472 226
Federal funds sold and other 194 161 750 1,029
Total interest income 23,341 20,485 66,809 58,575
Interest expense        
Deposits 7,631 5,015 22,107 11,953
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase 384 284 1,026 604
Interest Expense Federal Home Loan Bank Advances 571 617 1,597 887
Interest Expense, Subordinated Notes and Debentures 267 267 799 799
Total interest expense 8,853 6,183 25,529 14,243
Net interest income 14,488 14,302 41,280 44,332
Provision for loan losses 946 (292) 1,508 (55)
Net interest income after provision for loan losses 13,542 14,594 39,772 44,387
Noninterest income        
Noninterest Income, Service Charges and Fees 2,159 2,060 6,333 6,085
Noninterest Income Investment and Trust Advisory Fees 1,003 858 2,990 2,625
Earnings on corporate owned life insurance policies 252 229 748 681
Net gain on sale of mortgage loans 37 109 138 232
Other 77 158 395 688
Total noninterest income 3,528 3,414 10,604 10,311
Noninterest expenses        
Compensation and benefits 7,251 6,639 21,236 19,789
Occupancy and equipment 2,645 2,535 7,970 7,743
Professional and Contract Services Expense 588 672 1,628 1,764
ATM and Debit Card Expense 503 471 1,459 1,280
FDIC insurance premiums 291 228 823 689
Other 1,950 2,113 5,683 6,130
Total noninterest expenses 13,228 12,658 38,799 37,395
Income before federal income tax expense 3,842 5,350 11,577 17,303
Federal Income Tax Expense (Benefit), Continuing Operations 561 937 1,684 2,939
NET INCOME $ 3,281 $ 4,413 $ 9,893 $ 14,364
Earnings per share        
Basic (in dollars per share) $ 0.44 $ 0.59 $ 1.32 $ 1.91
Diluted (in dollars per share) 0.44 0.58 1.32 1.89
Cash dividends per basic share (in dollars per share) $ 0.28 $ 0.28 $ 0.84 $ 0.84