XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
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 and Dividend Income        
Interest and fees on loans $ 20,179 $ 13,282 $ 56,100 $ 35,565
Interest and dividends on securities available for sale:        
Taxable interest income 781 851 2,370 2,477
Interest income exempt from federal income taxes 3 59 12 217
Dividends 147 22 366 49
Interest on deposits in banks 1,030 143 2,176 199
Interest on federal funds sold 51 9 89 15
Total interest and dividend income 22,191 14,366 61,113 38,522
Interest Expense        
Interest on deposits 6,978 714 15,972 1,467
Interest on federal funds purchased 0 11 70 19
Interest on Federal Home Loan Bank advances 1,943 404 6,006 404
Interest on subordinated debt 354 338 1,063 675
Total interest expense 9,275 1,467 23,111 2,565
Net Interest Income (Expense) 12,916 12,899 38,002 35,957
Provision for credit losses 216 0 1,283 900
Net interest income after provision for credit losses 12,700 12,899 36,719 35,057
Noninterest Income        
Wealth management fees 1,190 1,094 3,611 3,077
Service charges on deposit accounts 460 432 1,343 1,195
Other service charges and fees 1,252 1,061 3,434 2,999
Gain on the sale of marine finance assets 463 0 463 0
Gain (loss) on the sale of bank premises and equipment 7 8 14 (3)
(Loss) on sale of securities 0 (737) 0 (737)
Gain on sale of loans 265 568 913 1,544
Bank owned life insurance income 184 138 542 495
Other operating income 388 600 772 1,686
Total noninterest income 4,209 3,164 11,092 10,256
Noninterest Expenses        
Salaries and employee benefits 7,598 6,938 22,457 18,873
Occupancy expenses 570 528 1,621 1,562
Equipment expenses 341 299 979 814
Advertising and marketing expenses 228 181 866 438
Stationery and supplies 69 34 147 135
ATM network fees 426 381 1,142 977
Other real estate owned expense 0 0 5 0
(Gain) on other real estate owned 0 0 (7) 0
FDIC assessment 495 116 1,107 430
Computer software expense 396 252 987 690
Bank franchise tax 340 234 916 653
Professional fees 497 270 1,963 1,610
Data processing fees 542 427 1,422 1,386
Other operating expenses 2,631 1,398 5,869 3,941
Total noninterest expenses 14,133 11,058 39,474 31,509
Income before income taxes 2,776 5,005 8,337 13,804
Income tax expense (benefit) 457 923 1,375 2,480
Net income $ 2,319 $ 4,082 $ 6,962 $ 11,324
Earnings Per Share        
Net income per common share, basic $ 0.66 $ 1.17 $ 1.98 $ 3.25
Net income per common share, diluted $ 0.66 $ 1.17 $ 1.98 $ 3.25