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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income    
Loans, including fees $ 48,562 $ 45,188
Securities 2,658 232
Other 4,076 1,146
Total interest income 55,296 46,566
Interest expense    
Deposits 3,687 2,227
Subordinated notes 794 567
Total interest expense 4,481 2,794
Net interest income 50,815 43,772
Provision for (recovery of) loan losses 1,828 (1,240)
Net interest income after provision for (recovery of) loan losses 48,987 45,012
Noninterest income    
Deposit service charges and fees 3,271 3,184
Loan servicing fees [1] 590 731
Mortgage brokerage and banking fees [1] 38 35
Trust and insurance commissions and annuities income 1,153 1,136
(Loss) earnings on bank-owned life insurance [1] (39) 114
Bank-owned life insurance death benefit [1] 446 0
Other [1] 517 489
Total noninterest income 5,976 5,689
Noninterest expense    
Compensation and benefits 21,576 22,638
Office occupancy and equipment 7,981 7,524
Advertising and public relations 690 742
Information technology 3,566 3,083
Professional fees 1,292 1,336
Supplies, telephone, and postage 1,393 1,615
FDIC insurance premiums 467 478
Other 4,163 3,527
Total noninterest expense 41,128 40,943
Income before income taxes 13,835 9,758
Income tax expense 3,341 2,348
Net income $ 10,494 $ 7,410
Basic and diluted earnings per common share (in dollars per share) $ 0.80 $ 0.53
Basic and diluted weighted average common shares outstanding (in shares) 13,071,742 14,031,198
[1] Not within the scope of ASC 606