XML 17 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Income (Unaudited) - 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 $ 12,640 $ 10,759 $ 36,038 $ 30,218
Interest on deposits in banks 338 380 1,441 701
Interest and dividends on securities:        
Taxable interest 1,323 1,323 3,968 3,750
Tax-exempt interest 304 307 917 921
Dividends 26 23 81 65
Total interest and dividend income 14,631 12,792 42,445 35,655
Interest Expense        
Interest on deposits 3,810 927 9,428 1,680
Interest on subordinated debt 69 70 207 208
Interest on junior subordinated debt 69 68 203 202
Interest on other borrowings 0 0 3 0
Total interest expense 3,948 1,065 9,841 2,090
Net interest income 10,683 11,727 32,604 33,565
Provision for credit losses 100 200 200 600
Net interest income after provision for credit losses 10,583 11,527 32,404 32,965
Noninterest Income        
Noninterest income 2,855 2,614 8,092 7,604
Income from bank owned life insurance 175 166 459 441
Other operating income 198 247 623 473
Total noninterest income 3,053 3,027 8,715 8,518
Noninterest Expense        
Salaries and employee benefits 5,505 5,174 16,040 15,384
Occupancy 534 539 1,586 1,656
Equipment 598 546 1,756 1,725
Marketing 204 211 720 585
Supplies 128 117 423 384
Legal and professional fees 439 361 1,204 1,075
ATM and check card expense 440 332 1,265 982
FDIC assessment 161 109 479 393
Bank franchise tax 262 238 778 692
Data processing expense 266 243 720 700
Amortization expense 5 6 14 15
Other real estate owned (income) expense, net 15 14 (201) 83
Other operating expense 1,227 1,193 3,358 2,971
Total noninterest expense 9,784 9,083 28,142 26,645
Income before income taxes 3,852 5,471 12,977 14,838
Income tax expense 731 1,017 2,502 2,820
Net income $ 3,121 $ 4,454 $ 10,475 $ 12,018
Earnings per common share        
Basic (in dollars per share) $ 0.5 $ 0.71 $ 1.67 $ 1.92
Diluted (in dollars per share) $ 0.5 $ 0.71 $ 1.67 $ 1.92
Deposit Account [Member]        
Noninterest Income        
Noninterest income $ 733 $ 708 $ 2,062 $ 2,015
Credit and Debit Card [Member]        
Noninterest Income        
Noninterest income 976 915 2,624 2,462
Asset Management [Member]        
Noninterest Income        
Noninterest income 811 739 2,336 2,302
Financial Service, Other [Member]        
Noninterest Income        
Noninterest income 122 180 538 601
Mortgage Banking [Member]        
Noninterest Income        
Noninterest income $ 38 $ 72 $ 73 $ 224