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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest and dividend income        
Interest and fees on loans $ 3,251 $ 3,445 $ 10,195 $ 10,115
Interest and dividends on securities, taxable 5,637 3,573 15,519 9,312
Interest on securities, tax-exempt 275 284 836 863
Interest on interest-bearing deposits in banks 4,271 7,366 14,390 15,568
Total interest and dividend income 13,434 14,668 40,940 35,858
Interest expense        
Interest on deposits 1,158 813 3,022 2,437
Interest on short-term borrowings 0 209 0 409
Total interest expense 1,158 1,022 3,022 2,846
Net interest income 12,276 13,646 37,918 33,012
Provision for (recapture of) credit losses        
Recapture of loan credit losses (83) (131) (404) (113)
Provision for (recapture of) securities credit losses (11) 13 (69) (297)
Total recapture of credit losses (94) (118) (473) (410)
Net interest income after provision for (recapture of) credit losses 12,370 13,764 38,391 33,422
Noninterest income        
Deposit placement services 174 2,464 466 5,617
Gain on sale of mortgage loans 28 13 55 25
Loss on sale of securities 0 (65) 0 (65)
Other income 40 49 169 104
Total noninterest income 847 3,080 2,371 7,358
Noninterest expenses        
Salaries and employee benefits 4,524 4,280 13,062 11,553
Data processing and communication expenses 767 669 2,166 1,928
Professional services 555 1,206 2,249 2,154
Occupancy and equipment expenses 267 236 776 748
State franchise taxes 251 253 951 604
FDIC and regulatory assessments 198 212 628 560
Insurance expenses 151 61 453 181
Directors fees 142 191 432 523
Other operating expenses 467 324 1,335 927
Total noninterest expenses 7,322 7,432 22,052 19,178
Net income before taxes 5,895 9,412 18,710 21,602
Income tax expense 1,193 1,925 3,817 4,393
Net income $ 4,702 $ 7,487 $ 14,893 $ 17,209
Earnings per common share, basic (in dollars per share) [1] $ 0.72 $ 1.64 $ 2.27 $ 3.77
Earnings per common share, diluted (in dollars per share) [1] $ 0.72 $ 1.64 $ 2.27 $ 3.77
Trust and wealth management        
Noninterest income        
Noninterest income $ 355 $ 243 $ 930 $ 669
Service charges on accounts        
Noninterest income        
Noninterest income $ 250 $ 376 $ 751 $ 1,008
[1] Share information for the prior year periods gives effect to the Reclassification. During all 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.