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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:      
Loans, including fees $ 43,722 $ 38,889 $ 26,321
Mortgage-backed securities 305 186 159
Other investment securities 975 1,120 948
FHLB stock and other interest earning assets 4,283 2,157 296
Total interest income 49,285 42,352 27,724
Deposits:      
Demand 5,257 3,154 758
Savings and club 166 118 108
Certificates of deposit 14,983 6,453 980
Total deposits 20,406 9,725 1,846
Borrowings 5,736 5,156 806
Total interest expense 26,142 14,881 2,652
Net interest income 23,143 27,471 25,072
Provision (benefit) for credit losses [1] 2,088 622 (2,575)
Net interest income after provision (benefit) for credit losses 21,055 26,849 27,647
Non-interest income:      
Fees and service charges 1,215 1,098 1,214
BOLI income 675 421 755
Gain on sales of loans 45 6 65
Gain on sale of fixed asset 4    
Realized and unrealized gains (losses) on equity investments 130 (3,227) (2,685)
Other 40 38 51
Total non-interest income (loss) 2,109 (1,664) (600)
Non-interest expense:      
Salaries and employee benefits 6,981 7,618 6,736
Occupancy and equipment 2,644 2,552 2,695
Data processing and communications 1,853 1,665 1,465
Professional fees 595 566 494
Director fees 277 265 321
Regulatory assessments 1,142 536 304
Advertising and promotional 216 278 141
Other real estate owned, net   1 1
Other 1,130 373 802
Total non-interest expense 14,838 13,854 12,959
Income before income tax provision 8,326 11,331 14,088
Income tax provision 2,460 3,225 4,136
Net Income 5,866 8,106 9,952
Preferred stock dividends 434 173 276
Net Income available to common stockholders $ 5,432 $ 7,933 $ 9,676
Net Income per common share-basic and diluted      
Basic $ 0.32 $ 0.47 $ 0.57
Diluted $ 0.32 $ 0.46 $ 0.56
Weighted average number of common shares outstanding      
Basic 16,930 16,949 16,980
Diluted 16,939 17,208 17,343
[1] The Company adopted ASU 2016-13 as of January 1, 2023. Prior year periods have not been restated.