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Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans $ 12,584 $ 9,750 $ 35,330 $ 27,339
Interest on investment securities 685 756 2,043 1,927
Interest on deposits in banks 598 136 1,362 265
Other 35 28 126 45
Total interest income 13,902 10,670 38,861 29,576
Interest expense:        
Interest on deposits 4,222 864 9,681 1,964
Interest on borrowings 197 291 940 562
Total interest expense 4,419 1,155 10,621 2,526
Net interest income 9,483 9,515 28,240 27,050
Provision for credit losses 184 1,165 753 2,781
Net interest income after provision for credit losses 9,299 8,350 27,487 24,269
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 302 $ 311 $ 869 $ 904
Revenue, Product and Service [Extensible Enumeration] us-gaap:ServiceMember us-gaap:ServiceMember us-gaap:ServiceMember us-gaap:ServiceMember
Lease income $ 241 $ 210 $ 707 $ 635
Other income, net 294 567 889 1,234
Total non-interest income 837 1,088 2,465 2,773
Non-interest expense:        
Salaries and employee benefits 4,120 4,007 12,310 12,389
Net occupancy and equipment 897 861 2,625 2,468
Computer services 464 417 1,315 1,224
Insurance expense and assessments 423 310 1,156 970
Fees for professional services 331 263 735 811
Other expense 1,084 1,174 3,599 3,104
Total non-interest expense 7,319 7,032 21,740 20,966
Income before income taxes 2,817 2,406 8,212 6,076
Provision for income taxes 704 546 2,004 1,440
Net income $ 2,113 $ 1,860 $ 6,208 $ 4,636
Basic net income per share $ 0.35 $ 0.31 $ 1.04 $ 0.76
Diluted net income per share 0.33 0.29 0.97 0.71
Dividends per share $ 0.05 $ 0.03 $ 0.15 $ 0.09