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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:        
Loans, including fees $ 16,751 $ 14,585 $ 48,793 $ 41,657
Securities:        
Taxable 2,985 3,152 9,104 9,556
Tax-exempt 481 549 1,524 1,748
Other interest and dividend income 495 476 1,937 1,484
Total interest and dividend income 20,712 18,762 61,358 54,445
Interest expense:        
Deposits 8,278 6,518 24,037 17,214
Other borrowed funds 1,357 1,555 4,466 3,571
Total interest expense 9,635 8,073 28,503 20,785
Net interest income 11,077 10,689 32,855 33,660
Credit loss expense (benefit) 371 (274) 722 34
Net interest income after credit loss expense (benefit) 10,706 10,963 32,133 33,626
Noninterest income:        
Securities gains (losses), net 0 28 (165) 35
Gain on sale of loans held for sale 112 95 361 254
Other noninterest income 234 333 827 884
Total noninterest income 2,413 2,360 7,209 6,929
Noninterest expense:        
Salaries and employee benefits 6,291 5,902 18,965 17,751
Data processing 1,475 1,497 4,478 4,395
Occupancy expenses, net 745 671 2,238 2,273
FDIC insurance assessments 281 284 878 803
Professional fees 867 545 2,190 1,540
Business development 318 311 983 975
Intangible asset amortization 86 130 259 388
New market tax credit projects amortization 174 192 523 575
Other operating expenses, net 268 270 925 1,445
Total noninterest expense 10,505 9,802 31,439 30,145
Income before income taxes 2,614 3,521 7,903 10,410
Provision for income taxes 397 597 1,198 1,732
Net income $ 2,217 $ 2,924 $ 6,705 $ 8,678
Basic and diluted earnings per share (in dollars per share) $ 0.25 $ 0.33 $ 0.75 $ 0.97
Cash dividends declared, per share (in dollars per share) $ 0.2 $ 0.27 $ 0.74 $ 0.81
Fiduciary and Trust [Member]        
Noninterest income:        
Noninterest income $ 1,242 $ 1,157 $ 3,913 $ 3,507
Financial Service [Member]        
Noninterest income:        
Noninterest income 399 343 1,062 1,000
Credit and Debit Card [Member]        
Noninterest income:        
Noninterest income $ 426 $ 404 $ 1,211 $ 1,249