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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income      
Loans, including fees $ 77,295 $ 65,670 $ 53,283
Interest Income, Debt Securities, Available-for-Sale, Operating 11,093 12,156 11,171
FHLB stock dividend income 640 355 174
Federal funds sold and other 950 1,450 1,170
Total interest income 89,978 79,631 65,798
Interest expense      
Deposits 29,690 18,352 4,021
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase 1,439 961 79
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Long-term 1,949 1,309 152
Interest Expense, Subordinated Notes and Debentures 1,065 1,065 1,065
Interest Expense, Operating, Total 34,143 21,687 5,317
Net interest income 55,835 57,944 60,481
Provision for loan losses 1,884 629 483
Net interest income after provision for loan losses 53,951 57,315 59,998
Noninterest income      
Noninterest Income, Service charges and fees 8,626 8,297 8,730
Noninterest Income Investment and Trust Advisory Fees 4,041 3,557 3,005
Earnings on corporate owned life insurance policies 1,007 920 884
Net gain on sale of mortgage loans 213 317 631
Other 689 736 416
Total noninterest income 14,576 13,827 13,666
Noninterest expenses      
Compensation and benefits 28,576 25,905 24,887
Occupancy and equipment 10,524 10,297 9,697
Professional and Contract Services Expense 2,212 2,340 2,358
ATM and Debit Card Expense 1,975 1,767 1,909
Marketing Expense 1,712 2,074 1,979
Federal Deposit Insurance Corporation Premium Expense 1,132 922 537
Other Losses 1,117 871 546
Memberships and Subscriptions Expense 928 1,042 876
Loan underwriting fees 866 927 1,004
Other 3,087 3,165 3,027
Total noninterest expenses 52,129 49,310 46,820
Income before federal income tax expense 16,398 21,832 26,844
Federal income tax expense 2,509 3,665 4,606
NET INCOME $ 13,889 $ 18,167 $ 22,238
Earnings per share      
Basic (in dollars per share) $ 1.86 $ 2.42 $ 2.95
Diluted (in dollars per share) 1.86 2.40 2.91
Cash dividends per basic share (in dollars per share) $ 1.12 $ 1.12 $ 1.09