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Consolidated Statements Of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest and Dividend Income    
Interest and fees on loans $ 75,520 $ 50,682
Interest and dividends on securities:    
Taxable interest income 3,141 3,292
Interest income exempt from federal income taxes 16 221
Dividends 523 109
Interest on deposits in banks 3,768 352
Interest on federal funds sold 160 30
Total interest and dividend income 83,128 54,686
Interest Expense    
Interest on deposits 23,630 2,941
Interest on federal funds purchased 70 170
Interest on Federal Home Loan Bank advances 7,720 1,295
Interest on subordinated debt 1,417 1,067
Total interest expense 32,837 5,473
Net Interest Income (Expense) 50,291 49,213
Provision for credit losses 1,649 1,830
Net interest income after provision for credit losses 48,642 47,383
Noninterest Income    
Wealth management fees 4,926 4,149
Service charges on deposit accounts 1,810 1,618
Other service charges and fees 4,413 3,943
Gain on the sale of marine finance assets 435 0
Gain (loss) on the sale and disposal of bank premises and equipment 14 (11)
(Loss) on sale of securities 0 (737)
Gain on sale of loans 1,428 1,875
Bank owned life insurance income 713 626
Other operating income 1,006 1,882
Total noninterest income 14,745 13,345
Noninterest Expenses    
Salaries and employee benefits 30,306 25,730
Occupancy expenses 2,202 2,068
Equipment expenses 1,299 1,121
Advertising and marketing expenses 1,157 770
Stationery and supplies 191 199
ATM network fees 1,563 1,313
Other real estate owned expense 5 34
(Gain) on other real estate owned (7) 0
FDIC assessment 1,585 614
Computer software expense 1,360 960
Bank franchise tax 1,255 886
Professional fees 2,540 2,019
Data processing fees 1,935 1,779
Other operating expenses 7,363 5,564
Total noninterest expenses 52,754 43,057
Income before taxes 10,633 17,671
Income tax expense (benefit) 1,276 3,150
Net Income (Loss) $ 9,357 $ 14,521
Earnings Per Share    
Net income per common share, basic $ 2.66 $ 4.17
Net income per common share, diluted $ 2.66 $ 4.17