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Consolidated Statements of Earnings - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans $ 33,473 $ 33,612 $ 31,797
Investment securities:      
Taxable 6,414 3,005 4,109
Tax-exempt 3,018 3,022 3,279
Interest-bearing deposits at banks 321 187 68
Total interest income 43,226 39,826 39,253
Interest expense:      
Deposits 2,776 1,023 2,105
Subordinated debentures 840 472 614
Borrowings 730 11 50
Total interest expense 4,346 1,506 2,769
Net interest income 38,880 38,320 36,484
Provision for loan losses 500 3,300
Net interest income after provision for loan losses 38,880 37,820 33,184
Non-interest income:      
Fees and service charges 9,651 8,857 8,091
Gains on sales of loans, net [1] 3,444 10,487 15,155
Increase in cash surrender value of bank owned life insurance [1] 780 686 611
(Losses) gains on sales of investment securities, net (1,103) 1,138 2,448
Other 928 1,093 1,053
Total non-interest income 13,700 22,261 27,358
Non-interest expense:      
Compensation and benefits 20,405 20,157 20,657
Occupancy and equipment 5,118 4,482 4,432
Data processing 1,580 2,016 1,831
Amortization of mortgage servicing rights and other intangibles 1,446 1,601 1,602
Professional fees 1,892 1,831 1,584
Acquisition costs 3,398
Other 7,431 7,169 6,156
Total non-interest expense 41,270 37,256 36,262
Earnings before income taxes 11,310 22,825 24,280
Income tax expense 1,432 4,814 4,787
Net earnings $ 9,878 $ 18,011 $ 19,493
Earnings per share (1):      
Basic [2] $ 1.89 $ 3.43 $ 3.72
Diluted [2] $ 1.88 $ 3.42 $ 3.72
[1] Not within the scope of ASC 606.
[2] All per share amounts have been adjusted to give effect to the 5% stock dividends paid during December 2022, 2021 and 2020.