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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:        
Loans, including fees $ 14,585 $ 11,688 $ 41,657 $ 33,229
Securities:        
Taxable 3,152 3,226 9,556 8,861
Tax-exempt 549 641 1,748 1,990
Other interest and dividend income 476 250 1,484 675
Total interest income 18,762 15,805 54,445 44,755
Interest expense:        
Deposits 6,518 1,847 17,214 3,921
Other borrowed funds 1,555 295 3,571 383
Total interest expense 8,073 2,142 20,785 4,304
Net interest income 10,689 13,663 33,660 40,451
Credit loss expense (benefit) (274) (520) 34 (706)
Net interest income after credit loss expense (benefit) 10,963 14,183 33,626 41,157
Noninterest income:        
Securities gains, net 28 2 35 37
Gain on sale of loans held for sale 95 137 254 501
Other noninterest income 333 274 884 716
Total noninterest income 2,360 2,286 6,929 7,218
Noninterest expense:        
Salaries and employee benefits 5,902 5,731 17,751 17,092
Data processing 1,497 1,494 4,395 4,594
Occupancy expenses, net 671 674 2,273 2,097
FDIC insurance assessments 284 155 803 450
Professional fees 545 431 1,540 1,407
Business development 311 346 975 981
Intangible asset amortization 130 145 388 438
New market tax credit projects amortization 192 189 575 567
Other operating expenses, net 270 322 1,445 1,091
Total noninterest expense 9,802 9,487 30,145 28,717
Income before income taxes 3,521 6,982 10,410 19,658
Provision for income taxes 597 1,439 1,732 4,777
Net income $ 2,924 $ 5,543 $ 8,678 $ 14,881
Basic and diluted earnings per share (in dollars per share) $ 0.33 $ 0.62 $ 0.97 $ 1.64
Cash dividends declared, per share (in dollars per share) $ 0.27 $ 0.27 $ 0.81 $ 0.81
Fiduciary and Trust [Member]        
Noninterest income:        
Noninterest income $ 1,157 $ 1,063 $ 3,507 $ 3,589
Financial Service [Member]        
Noninterest income:        
Noninterest income 343 348 1,000 1,013
Credit and Debit Card [Member]        
Noninterest income:        
Noninterest income $ 404 $ 462 $ 1,249 $ 1,362