XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 17,186 $ 15,022 $ 33,581 $ 29,512
Investment securities:        
Taxable 2,163 2,359 4,343 4,787
Tax-exempt 701 759 1,420 1,523
Interest-bearing deposits at banks 48 40 96 103
Total interest income 20,098 18,180 39,440 35,925
Interest expense:        
Deposits 5,144 5,673 10,380 11,130
Federal Home Loan Bank and other borrowings 861 1,027 1,426 2,049
Subordinated debentures 358 418 715 830
Repurchase agreements 52 88 117 195
Total interest expense 6,415 7,206 12,638 14,204
Net interest income 13,683 10,974 26,802 21,721
Provision for credit losses 1,000 1,000 300
Net interest income after provision for credit losses 12,683 10,974 25,802 21,421
Non-interest income:        
Fees and service charges 2,476 2,691 4,864 5,152
Gains on sales of loans, net [1] 740 648 1,302 1,160
Increase in cash surrender value of bank owned life insurance [1] 278 248 550 493
Losses on sales of investment securities, net (2)
Other 132 133 270 315
Total non-interest income 3,626 3,720 6,984 7,120
Non-interest expense:        
Compensation and benefits 6,234 5,504 12,388 11,036
Occupancy and equipment 1,244 1,294 2,496 2,684
Data processing 629 492 1,025 973
Amortization of mortgage servicing rights and other intangibles 238 256 477 668
Professional fees 540 649 1,285 1,296
Valuation allowance on real estate held for sale 979 1,108
Other 2,076 1,921 4,051 3,881
Total non-interest expense 10,961 11,095 21,722 21,646
Earnings before income taxes 5,348 3,599 11,064 6,895
Income tax expense 944 587 1,959 1,105
Net earnings $ 4,404 $ 3,012 $ 9,105 $ 5,790
Earnings per share:        
Basic [2],[3] $ 0.76 $ 0.52 $ 1.58 $ 1.01
Diluted [2],[3] 0.75 0.52 1.56 1.01
Dividends per share [2] $ 0.21 $ 0.20 $ 0.42 $ 0.40
[1] Not within the scope of ASC 606.
[2] Per share amounts for the periods ended June 30, 2024 have been adjusted to give effect to the 5% stock dividend issued in December 2024.
[3] Share and per share values for the periods ended June 30, 2024 have been adjusted to give effect to the 5% stock dividend paid during December 2024.