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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME        
Loans receivable, including fees $ 22,021 $ 17,114 $ 61,881 $ 48,203
Securities 2,433 2,473 7,418 6,564
Other 54 245 156 504
Total interest income 24,508 19,832 69,455 55,271
INTEREST EXPENSE        
Deposits 7,017 1,557 17,119 3,699
Short-term borrowings 1,126 88 2,702 196
Other borrowings 1,326 17 2,860 212
Total interest expense 9,469 1,662 22,681 4,107
NET INTEREST INCOME 15,039 18,170 46,774 51,164
PROVISION FOR (RELEASE OF) CREDIT LOSS EXPENSE 882   (568) 600
NET INTEREST INCOME AFTER PROVISION FOR (RELEASE OF) CREDIT LOSSES 14,157 18,170 47,342 50,564
OTHER INCOME        
Other income 1,922 1,886 5,325 7,055
Net realized (losses) gains on sales of securities     (209)  
Gains on sales of loans, net 18 1 27 1
Gain on sales of foreclosed real estate owned 13   13 427
Earnings and proceeds on bank owned life insurance 328 267 770 892
Other 174 345 520 1,760
Total other income 2,306 2,178 6,001 8,006
OTHER EXPENSES        
Salaries and employee benefits 6,083 5,553 17,893 16,824
Occupancy, furniture & equipment, net 1,242 1,191 3,818 3,704
Data processing and related operations 876 736 2,465 2,031
Taxes, other than income 167 240 490 773
Professional fees 524 354 1,132 1,336
Federal Deposit Insurance Corporation insurance 254 143 699 468
Foreclosed real estate 9 4 112 66
Amortization of intangibles 20 24 66 78
Other 2,101 1,894 5,974 5,488
Total other expenses 11,276 10,139 32,649 30,768
INCOME BEFORE INCOME TAXES 5,187 10,209 20,694 27,802
INCOME TAX EXPENSE 1,068 2,100 4,289 5,709
NET INCOME $ 4,119 $ 8,109 $ 16,405 $ 22,093
BASIC EARNINGS PER SHARE $ 0.51 $ 1.00 $ 2.03 $ 2.71
DILUTED EARNINGS PER SHARE $ 0.51 $ 1.00 $ 2.03 $ 2.71
Service Charges And Fees [Member]        
OTHER INCOME        
Other income $ 1,527 $ 1,346 $ 4,192 $ 4,292
Income From Fiduciary Activities [Member]        
OTHER INCOME        
Other income $ 246 $ 219 $ 688 $ 634