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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and Dividend Income        
Interest and fees on loans $ 19,525 $ 18,754 $ 39,488 $ 35,921
Interest and dividends on securities available for sale:        
Taxable interest income 739 785 1,497 1,589
Interest income exempt from federal income taxes 3 5 8 9
Dividends 155 136 311 219
Interest on deposits in banks 1,258 656 2,249 1,146
Interest on federal funds sold 68 28 107 38
Total interest and dividend income 21,748 20,364 43,660 38,922
Interest Expense        
Interest on deposits 7,515 5,535 14,939 8,994
Interest on federal funds purchased 0 0 0 70
Interest on Federal Home Loan Bank advances 1,712 2,032 3,422 4,063
Interest on subordinated debt 355 355 709 709
Total interest expense 9,582 7,922 19,070 13,836
Net interest income (Expense) 12,166 12,442 24,590 25,086
Provision for credit losses 181 403 656 1,067
Net interest income after provision for credit losses 11,985 12,039 23,934 24,019
Noninterest Income        
Wealth management fees 1,273 1,263 2,729 2,421
Service charges on deposit accounts 456 447 910 883
Other service charges and fees 1,164 1,135 2,133 2,182
Gain (loss) on the sale of bank premises and equipment (11) 7 (11) 7
Gain on sale of loans 492 192 653 648
Bank owned life insurance income 269 179 537 358
Other operating income 652 134 815 384
Total noninterest income 4,295 3,357 7,766 6,883
Noninterest Expenses        
Salaries and employee benefits 7,353 7,561 14,538 14,859
Occupancy expenses 470 533 1,039 1,051
Equipment expenses 401 315 774 638
Advertising and marketing expenses 245 342 482 638
Stationery and supplies 32 56 56 78
ATM network fees 373 365 753 716
Other real estate owned expense 0 0 0 5
(Gain) on other real estate owned 0 0 0 (7)
FDIC assessment 351 346 760 612
Computer software expense 221 281 454 591
Bank franchise tax 338 313 669 576
Professional fees 511 753 1,017 1,466
Data processing fees 558 478 1,123 880
Other operating expenses 1,657 1,612 3,222 3,238
Total noninterest expenses 12,510 12,955 24,887 25,341
Income before income taxes 3,770 2,441 6,813 5,561
Income tax expense 585 383 1,080 918
Net income $ 3,185 $ 2,058 $ 5,733 $ 4,643
Earnings Per Share        
Net income per common share, basic $ 0.89 $ 0.58 $ 1.61 $ 1.32
Net income per common share, diluted $ 0.89 $ 0.58 $ 1.61 $ 1.32