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CONSOLIDATED INCOME STATEMENTS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income:      
Loans, including fees $ 52,556 $ 46,657 $ 45,123
Investment securities and other 4,966 2,481 955
Total interest and dividend income 57,522 49,138 46,078
Interest expense:      
Deposits 14,160 2,511 2,835
FHLB advances and other borrowings 955 817 869
Total interest expense 15,115 3,328 3,704
Net interest income 42,407 45,810 42,374
Provision (credit) for credit losses (395) (195) (181)
Net interest income after provision (credit) for credit losses 42,802 46,005 42,555
Non-interest income:      
Other loan fees 944 1,161 1,349
Gains from loan sales, net 171 257 475
Document processing fees 352 422 512
Service charges 626 438 302
Other income 1,660 1,700 1,115
Total non-interest income 3,753 3,978 3,753
Non-interest expenses:      
Salaries and employee benefits 21,605 19,637 18,624
Occupancy, net 4,380 4,180 3,254
Professional services 3,728 2,923 1,645
Advertising and marketing 926 921 734
Data processing 1,407 1,265 1,215
Depreciation 727 711 780
FDIC assessment 1,013 577 485
Other expenses 1,959 1,058 1,258
Total non-interest expenses 35,745 31,272 27,995
Income before provision for income taxes 10,810 18,711 18,313
Provision for income taxes 3,494 5,262 5,212
Net income $ 7,316 $ 13,449 $ 13,101
Earnings per share:      
Basic (in dollars per share) $ 0.83 $ 1.54 $ 1.53
Diluted (in dollars per share) $ 0.81 $ 1.51 $ 1.5
Weighted average number of common shares outstanding:      
Basic (in shares) 8,840,524 8,722,481 8,567,839
Diluted (in shares) 8,979,201 8,892,127 8,722,938
Dividends declared per common share (in dollars per share) $ 0.32 $ 0.295 $ 0.27