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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income        
Interest and fees on loans $ 3,356 $ 3,391 $ 6,945 $ 6,671
Interest and dividends on securities, taxable 5,274 2,872 9,881 5,738
Interest on securities, tax-exempt 279 285 561 579
Interest on interest-bearing deposits in banks 3,856 4,943 10,119 8,202
Total interest and dividend income 12,765 11,491 27,506 21,190
Interest expense        
Interest on deposits 971 815 1,864 1,623
Interest on short-term borrowings 0 102 0 201
Total interest expense 971 917 1,864 1,824
Net interest income 11,794 10,574 25,642 19,366
Provision for (recapture of) credit losses        
Provision for (recapture of) loan credit losses (283) 13 (321) 18
Provision for (recapture of) securities credit losses (31) (111) (58) (310)
Total provision for (recapture of) credit losses (314) (98) (379) (292)
Net interest income after provision for (recapture of) credit losses 12,108 10,672 26,021 19,658
Noninterest income        
Deposit placement services 159 2,031 292 3,153
Gain on sale of mortgage loans 14 12 27 12
Other income 89 27 128 55
Total noninterest income 828 2,630 1,523 4,278
Noninterest expenses        
Salaries and employee benefits 4,130 3,788 8,538 7,273
Professional services 801 483 1,694 948
Data processing and communication expenses 733 664 1,399 1,259
State franchise taxes 349 148 700 351
Occupancy and equipment expenses 258 237 509 512
FDIC and regulatory assessments 202 155 430 348
Insurance expenses 153 60 302 120
Directors fees 144 171 290 332
Other operating expenses 389 299 868 603
Total noninterest expenses 7,159 6,005 14,730 11,746
Net income before taxes 5,777 7,297 12,814 12,190
Income tax expense 1,193 1,492 2,623 2,468
Net income $ 4,584 $ 5,805 $ 10,191 $ 9,722
Earnings per common share, basic (in dollars per share) [1] $ 0.70 $ 1.27 $ 1.55 $ 2.13
Earnings per common share, diluted (in dollars per share) [1] $ 0.70 $ 1.27 $ 1.55 $ 2.13
Trust and wealth management        
Noninterest income        
Noninterest income $ 305 $ 239 $ 575 $ 426
Service charges on accounts        
Noninterest income        
Noninterest income $ 261 $ 321 $ 501 $ 632
[1] Share information for the prior year periods gives effect to the Reclassification. During the periods presented, the number of basic and diluted weighted average shares are the same because there were no potentially dilutive instruments. Except in regard to voting and conversion rights, the rights of Class A Common Stock and Class B Common Stock are identical, and the classes rank equally and share ratably with regard to all other matters. Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock.