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Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 13,206 $ 12,584 $ 38,989 $ 35,330
Interest on investment securities 1,121 685 3,094 2,043
Interest on deposits in banks 603 598 1,478 1,362
Other 87 35 279 126
Total interest income 15,017 13,902 43,840 38,861
Interest expense:        
Interest on deposits 5,709 4,222 16,018 9,681
Interest on borrowings 123 197 421 940
Total interest expense 5,832 4,419 16,439 10,621
Net interest income 9,185 9,483 27,401 28,240
Provision for credit losses 152 184 152 753
Net interest income after provision for credit losses 9,033 9,299 27,249 27,487
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 312 $ 302 $ 909 $ 869
Revenue, Product and Service [Extensible Enumeration] us-gaap:ServiceMember us-gaap:ServiceMember us-gaap:ServiceMember us-gaap:ServiceMember
Lease income $ 260 $ 241 $ 770 $ 707
Other income, net 329 294 922 889
Total non-interest income 901 837 2,601 2,465
Non-interest expense:        
Salaries and employee benefits 3,837 4,120 11,815 12,310
Net occupancy and equipment 958 897 2,806 2,625
Computer services 449 464 1,336 1,315
Insurance expense and assessments 348 423 1,153 1,156
Fees for professional services 299 331 1,004 735
Other expense 1,099 1,084 3,295 3,599
Total non-interest expense 6,990 7,319 21,409 21,740
Income before income taxes 2,944 2,817 8,441 8,212
Provision for income taxes 722 704 1,985 2,004
Net income $ 2,222 $ 2,113 $ 6,456 $ 6,208
Basic net income per share $ 0.38 $ 0.35 $ 1.1 $ 1.04
Diluted net income per share 0.36 0.33 1.04 0.97
Dividends per share $ 0.05 $ 0.05 $ 0.15 $ 0.15