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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and dividend income:        
Loans, including fees $ 44,133 $ 32,302 $ 125,666 $ 87,404
Mortgage-backed securities 217 173 587 379
Other investment securities 1,045 1,103 3,235 2,990
FHLB stock and other interest earning assets 3,672 822 9,168 1,812
Total interest income 49,067 34,400 138,656 92,585
Deposits:        
Demand 4,556 1,169 11,900 2,873
Savings and club 182 113 443 331
Certificates of deposit 10,922 1,087 25,849 2,916
Total deposits 15,660 2,369 38,192 6,120
Borrowings 7,727 1,080 20,324 2,701
Total interest expense 23,387 3,449 58,516 8,821
Net interest income 25,680 30,951 80,140 83,764
Provision (benefit) for credit losses [1] 2,205   4,177 (2,575)
Net interest income after (provision) benefit for credit losses 23,475 30,951 75,963 86,339
Non-interest income:        
Fees and service charges 1,349 1,251 3,889 3,678
BOLI income 466 646 1,154 2,087
Gain on sales of loans 19 18 25 126
Realized and unrealized losses on equity investments (494) (559) (4,390) (5,546)
Other 66 90 182 188
Total non-interest income 1,406 1,446 860 533
Non-interest expense:        
Salaries and employee benefits 7,524 6,944 22,853 20,395
Occupancy and equipment 2,622 2,608 7,734 7,976
Data processing and communications 1,787 1,520 5,247 4,454
Professional fees 560 614 1,748 1,597
Director fees 274 375 809 992
Regulatory assessments 1,111 264 2,443 812
Advertising and promotional 317 286 945 681
Other real estate owned, net 1 1 3 6
Other 1,267 841 2,241 2,555
Total non-interest expense 15,463 13,453 44,023 39,468
Income before income tax provision 9,418 18,944 32,800 47,404
Income tax provision 2,707 5,552 9,379 13,897
Net Income 6,711 13,392 23,421 33,507
Preferred stock dividends 173 174 520 624
Net Income available to common stockholders $ 6,538 $ 13,218 $ 22,901 $ 32,883
Net Income per common share-basic and diluted        
Basic $ 0.39 $ 0.78 $ 1.36 $ 1.94
Diluted $ 0.39 $ 0.76 $ 1.35 $ 1.89
Weighted average number of common shares outstanding        
Basic 16,830 16,982 16,868 16,986
Diluted 16,854 17,356 16,951 17,369
[1] The Company adopted ASU 2016-13 as of January 1, 2023. Prior year periods have not been restated.