XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Loans        
Taxable $ 12,715 $ 8,880 $ 24,841 $ 16,932
Tax exempt 121 73 237 134
Securities        
Taxable 1,328 1,328 2,678 2,447
Tax exempt 46 52 93 99
Other interest income 196 141 381 257
Total interest income 14,406 10,474 28,230 19,869
Interest Expense        
Deposits 3,538 567 6,116 1,185
Repurchase agreements & other 9 11 19 24
Federal Home Loan Bank advance expense 664 38 1,217 77
Trust preferred securities expense 172 71 336 124
Subordinated debt expense 194 194 389 389
Total interest expense 4,577 881 8,077 1,799
Net Interest Income 9,829 9,593 20,153 18,070
Provision for credit losses - loans 375 688
Provision for unfunded commitments (230) (293)
Total provision for credit losses 145 395
Net interest income after provision for credit losses 9,684 9,593 19,758 18,070
Noninterest Income        
Wealth management fees 940 936 1,857 1,891
Customer service fees 871 860 1,696 1,654
Gain on sale of mortgage loans & OMSR 1,056 1,196 1,655 2,872
Mortgage loan servicing fees, net 494 606 1,102 1,810
Gain on sale of non-mortgage loans 218 167 242 336
Title insurance income 455 697 828 1,299
Other income 327 211 647 613
Total noninterest income 4,361 4,673 8,027 10,475
Noninterest Expense        
Salaries and employee benefits 5,721 6,418 11,634 12,607
Net occupancy expense 802 719 1,586 1,461
Equipment expense 1,002 827 1,983 1,681
Data processing fees 685 643 1,331 1,219
Professional fees 612 760 1,475 1,710
Marketing expense 213 222 411 453
Telephone and communications 124 105 245 216
Postage and delivery expense 78 110 165 226
State, local and other taxes 218 277 446 555
Employee expense 156 175 344 311
Other expense 728 546 1,492 1,222
Total noninterest expense 10,339 10,802 21,112 21,661
Income before income tax 3,706 3,464 6,673 6,884
Provision for income taxes 631 630 1,148 1,237
Net Income $ 3,075 $ 2,834 $ 5,525 $ 5,647
Basic earnings per common share (in Dollars per share) $ 0.45 $ 0.4 $ 0.8 $ 0.8
Diluted earnings per common share (in Dollars per share) $ 0.44 $ 0.4 $ 0.79 $ 0.79
Average common shares outstanding (in thousands):        
Basic: (in Shares) 6,847,000 7,075,000 6,890,000 7,055,000
Diluted: (in Shares) 6,910,000 7,149,000 6,976,000 7,116,000