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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Loans, including fees $ 56,699,000 $ 48,562,000
Securities 3,707,000 2,658,000
Other 5,749,000 4,076,000
Total interest income 66,155,000 55,296,000
Interest expense    
Deposits 12,552,000 3,687,000
Borrowings and Subordinated notes 1,774,000 794,000
Total interest expense 14,326,000 4,481,000
Net interest income 51,829,000 50,815,000
Provision for credit losses - loans 395,000 1,828,000
Recovery of credit losses - unfunded commitments (82,000) 0
Provision for credit losses 313,000 1,828,000
Net interest income after provision for credit losses 51,516,000 48,987,000
Noninterest income    
Deposit service charges and fees 3,318,000 3,271,000
Loan servicing fees [1] 532,000 590,000
Trust and insurance commissions and annuities income 1,280,000 1,153,000
Losses on sales of securities (1) [1] (454,000) 0
Gain on sale of premises and equipment 9,000 0
Valuation adjustment on bank premises held-for-sale (1) [1] (602,000) 0
Loss on bank-owned life insurance (346,000) (39,000)
Bank-owned life insurance death benefit (1) 0 446,000
Other [1] 680,000 555,000
Total noninterest income 4,417,000 5,976,000
Noninterest expense    
Compensation and benefits 22,232,000 21,576,000
Office occupancy and equipment 8,052,000 7,981,000
Advertising and public relations 762,000 690,000
Information technology 3,732,000 3,566,000
Professional fees 1,330,000 1,292,000
Supplies, telephone, and postage 1,254,000 1,393,000
FDIC insurance premiums 865,000 467,000
Other 4,954,000 4,163,000
Total noninterest expense 43,181,000 41,128,000
Income before income taxes 12,752,000 13,835,000
Income tax benefit 3,359,000 3,341,000
Net income $ 9,393,000 $ 10,494,000
Basic and diluted earnings per common share (in dollars per share) $ 0.74 $ 0.8
Basic and diluted weighted average common shares outstanding (in shares) 12,622,882 13,071,742
[1] Not within the scope of ASC 606