XML 20 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements Of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income      
Loans and leases, including fees $ 63,717 $ 51,256 $ 41,851
Securities 881 756 161
FHLB and FRB stock dividends 348 234 199
Federal funds sold and other 2,818 102 175
Total interest and dividend income 67,764 52,348 42,386
Interest expense      
Deposits 15,952 8,014 11,911
FHLB advances and other debt 2,040 1,398 1,729
Subordinated debentures 982 897 938
Total interest expense 18,974 10,309 14,578
Net interest income 48,790 42,039 27,808
Provision for loan and lease losses 787 (1,600) 10,915
Net interest income after provision for loan and lease losses 48,003 43,639 16,893
Noninterest income      
Service charges on deposit accounts 1,135 845 633
Net gains on sales of residential mortgage loans 656 5,916 58,298
Net gains on sales of SBA loans 353 1,443 68
Gain (loss) on redemption of life insurance policies (173) 383  
Earnings on bank owned life insurance 598 532 145
Gain on sale of deposits   1,893  
Swap fee income 190 194 651
Other 451 434 198
Total noninterest income 3,210 11,640 59,993
Noninterest expense      
Salaries and employee benefits 15,125 16,948 21,987
Occupancy and equipment 1,253 1,120 1,077
Data processing 2,807 2,086 1,812
Franchise and other taxes 1,151 975 740
Professional fees 2,758 4,348 5,070
Director fees 632 622 648
Postage, printing and supplies 183 146 172
Advertising and marketing 431 3,061 5,624
Telephone 249 263 219
Loan expenses 694 352 304
Depreciation 496 435 381
FDIC premiums 1,130 1,238 588
Regulatory assessment 272 261 181
Other insurance 177 158 106
Impairment of property and equipment 570    
Other 693 448 1,694
Total noninterest expense 28,621 32,461 40,603
Income before incomes taxes 22,592 22,818 36,283
Income tax expense 4,428 4,365 6,675
Net income 18,164 18,453 29,608
Earnings allocated to participating securities (Series C preferred stock)     (2,280)
Net income attributable to common stockholders $ 18,164 $ 18,453 $ 27,328
Earnings per common share:      
Basic $ 2.84 $ 2.84 $ 4.53
Diluted $ 2.78 $ 2.77 $ 4.47