XML 20 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements Of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and dividend income      
Loans and leases, including fees $ 106,750 $ 97,383 $ 63,717
Securities 549 658 881
FHLB and FRB stock dividends 675 592 348
Federal funds sold and other 10,415 9,646 2,818
Total interest and dividend income 118,389 108,279 67,764
Interest expense      
Deposits 67,158 56,363 15,952
FHLB advances and other debt 3,144 3,107 2,040
Subordinated debentures 1,443 1,169 982
Total interest expense 71,745 60,639 18,974
Net interest income 46,644 47,640 48,790
Provision for credit losses      
Provision for credit losses-loans 6,087 1,858 787
Provision for credit losses-unfunded commitments 650 459  
Total provision for credit losses 6,737 2,317 787
Net interest income after provision for credit losses 39,907 45,323 48,003
Noninterest income      
Service charges on deposit accounts 2,505 1,566 1,135
Net gains on sales of residential mortgage loans 435 119 656
Net gains on sales of SBA loans 246 66 353
Loss on redemption of life insurance policies     (173)
Earnings on bank owned life insurance 850 625 598
Swap fee income 321 715 190
Other 818 940 451
Total noninterest income 5,175 4,031 3,210
Noninterest expense      
Salaries and employee benefits 14,172 14,513 15,125
Occupancy and equipment 1,821 1,694 1,253
Data processing 2,569 2,172 2,807
Franchise and other taxes 1,269 1,263 1,151
Professional fees 2,729 2,470 2,758
Director fees 574 658 632
Postage, printing and supplies 152 149 183
Advertising and marketing 134 336 431
Telephone 210 257 249
Loan expenses 1,400 619 694
Depreciation 486 567 496
FDIC premiums 2,079 2,215 1,130
Regulatory assessment 258 242 272
Other insurance 198 209 177
Impairment of property and equipment 56 60 570
Other 831 945 693
Total noninterest expense 28,938 28,369 28,621
Income before incomes taxes 16,144 20,985 22,592
Income tax expense 2,757 4,048 4,428
Net income 13,387 16,937 18,164
Earnings allocated to participating securities (Series D preferred stock) (361)    
Net income attributable to common stockholders $ 13,026 $ 16,937 $ 18,164
Earnings per common share:      
Basic $ 2.08 $ 2.64 $ 2.84
Diluted $ 2.06 $ 2.63 $ 2.78