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Basis of Presentation | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Basis of Presentation | 2. BASIS OF PRESENTATION Reclassification Certain amounts in the prior period consolidated financial statements and the notes to the prior period consolidated financial statements have been reclassified to conform to the 2025 presentation. These reclassifications had no effect on the Company’s results of operations, financial position or net cash flow. Summary of Significant Accounting Policies Certain significant accounting policies followed by the Company are set forth in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s 2024 Form 10-K. Net Income Per Share Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding ("basic shares"). Included in basic shares are stock equivalent shares that have been accrued as of the balance sheet date as deferred compensation for members of Bancshares’ Board of Directors under the Non-Employee Directors' Deferred Compensation Plan (as defined below and discussed further in Note 9). Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period ("dilutive shares"). The dilutive shares consist of unexercised nonqualified stock options granted to employees and members of Bancshares’ Board of Directors pursuant to the Company's Incentive Plan (as defined below and discussed further in Note 10). The following table reflects the weighted average shares used to calculate basic and diluted net income per share for the periods presented.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Weighted average shares outstanding |  |  | 5,759,822 |  |  |  | 5,733,480 |  |  |  | 5,739,415 |  |  |  | 5,752,991 |
Weighted average director stock equivalent shares |  |  | 78,557 |  |  |  | 105,799 |  |  |  | 87,310 |  |  |  | 109,588 |
Basic shares |  |  | 5,838,379 |  |  |  | 5,839,279 |  |  |  | 5,826,725 |  |  |  | 5,862,579 |
Dilutive shares |  |  | 230,000 |  |  |  | 317,600 |  |  |  | 230,000 |  |  |  | 317,600 |
Diluted shares |  |  | 6,068,379 |  |  |  | 6,156,879 |  |  |  | 6,056,725 |  |  |  | 6,180,179 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Dollars in Thousands, Except Per Share Data) |
Net income |  | $ | 1,936 |  |  | $ | 2,222 |  |  | $ | 3,863 |  |  | $ | 6,456 |
Basic net income per share |  | $ | 0.33 |  |  | $ | 0.38 |  |  | $ | 0.66 |  |  | $ | 1.10 |
Diluted net income per share |  | $ | 0.32 |  |  | $ | 0.36 |  |  | $ | 0.64 |  |  | $ | 1.04 |
Comprehensive Income Comprehensive income consists of net income, as well as unrealized holding gains and losses that arise during the period associated with the Company’s available-for-sale securities portfolio and the effective portion of cash flow hedge derivatives. In the calculation of comprehensive income, reclassification adjustments are made for gains or losses realized in the statement of operations associated with the sale of available-for-sale securities or settlement of derivative contracts. Accounting Standards Not Yet Adopted The following table provides a description of recent accounting standards that have not yet been adopted as of September 30, 2025.
Standard | Description | Required Date of Adoption | Effect on Financial Statements or other significant matters
ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures | This ASU improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. | Annual financial statements as of and for the year ending December 31, 2025 | The adoption of this guidance is not likely to have a material impact. Management will continue to evaluate through date of adoption.
ASU 2024-03, Income Statement Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses | This ASU will change the disclosures about a public business entity's expenses and address requests from investors for more detailed information about the types of expenses (for example: employee compensation, depreciation, and amortization) in expense captions. | Annual financial statements as of and for the year ending December 31, 2027 | The adoption of this guidance is not likely to have a material impact. Management will continue to evaluate through date of adoption.

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- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/235/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1 + Details
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