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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and Dividend Income        
Interest and fees on loans $ 18,754 $ 11,663 $ 35,921 $ 22,283
Interest and dividends on securities available for sale:        
Taxable interest income 785 847 1,589 1,626
Interest income exempt from federal income taxes 5 75 9 158
Dividends 136 17 219 27
Interest on deposits in banks 656 41 1,146 56
Interest on federal funds sold 28 4 38 6
Total interest and dividend income 20,364 12,647 38,922 24,156
Interest Expense        
Interest on deposits 5,535 383 8,994 753
Interest on federal funds purchased 0 8 70 8
Interest on Federal Home Loan Bank advances 2,032 0 4,063 0
Interest on subordinated debt 355 337 709 337
Total interest expense 7,922 728 13,836 1,098
Net interest income 12,442 11,919 25,086 23,058
Provision for credit losses 403 360 1,067 900
Net interest income after provision for credit losses 12,039 11,559 24,019 22,158
Noninterest Income        
Wealth management fees 1,263 1,062 2,421 1,983
Service charges on deposit accounts 447 389 883 763
Other service charges and fees 1,135 1,029 2,182 1,938
Gain (loss) on the sale of bank premises and equipment 7 (11) 7 (11)
Gain on sale of loans 192 498 648 976
Bank owned life insurance income 179 178 358 357
Other operating income 134 704 384 1,086
Total noninterest income 3,357 3,849 6,883 7,092
Noninterest Expenses        
Salaries and employee benefits 7,561 5,983 14,859 11,935
Occupancy expenses 533 516 1,051 1,034
Equipment expenses 315 258 638 515
Advertising and marketing expenses 342 146 638 257
Stationery and supplies 56 66 78 101
ATM network fees 365 310 716 596
Other real estate owned expense 0 0 5 0
(Gain) on other real estate owned 0 0 (7) 0
FDIC assessment 346 137 612 314
Computer software expense 281 184 591 438
Bank franchise tax 313 221 576 419
Professional fees 753 876 1,466 1,340
Data processing fees 478 479 880 959
Other operating expenses 1,612 1,352 3,238 2,543
Total noninterest expenses 12,955 10,528 25,341 20,451
Income before income taxes 2,441 4,880 5,561 8,799
Income tax expense (benefit) 383 888 918 1,557
Net income $ 2,058 $ 3,992 $ 4,643 $ 7,242
Earnings Per Share        
Net income per common share, basic $ 0.58 $ 1.14 $ 1.32 $ 2.08
Net income per common share, diluted $ 0.58 $ 1.14 $ 1.32 $ 2.08