XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Interest income:        
Loans $ 15,676 $ 11,236 $ 43,859 $ 35,293
Investment securities - taxable 722 386 2,076 1,059
Mortgage-backed securities 1,422 1,278 4,276 3,547
Investment securities - tax exempt 3,836 2,372 10,417 6,716
Interest-bearing deposits and federal funds sold 277 33 473 114
Total interest income 21,933 15,305 61,101 46,729
Interest expense:        
Interest on deposits 5,559 748 11,307 2,445
Interest on borrowings 1,148 470 2,811 1,345
Total interest expense 6,707 1,218 14,118 3,790
Net interest income 15,226 14,087 46,983 42,939
Provision for loan losses (944) 163 (1,199) 2,431
Net interest income after provision for loan losses 16,170 13,924 48,182 40,508
Noninterest income:        
Service charges on deposit accounts 1,132 1,052 3,583 3,279
Debit card fees 1,082 1,024 3,362 3,214
Investment services 213 216 591 707
E-commerce fees 26 23 81 83
Bank-owned life insurance 340 323 1,020 939
Net loss on sale of available-for-sale securities 0 0 (251) 0
Other operating income 266 267 666 850
Total noninterest income 3,059 2,905 9,052 9,072
Noninterest expense:        
Salaries and employee benefits 6,193 5,332 17,070 15,103
Occupancy expense 617 549 1,654 1,627
Equipment and furniture expense 150 186 529 573
Service and data processing fees 674 649 2,040 1,937
Computer software, supplies and support 407 356 1,157 1,128
Advertising and promotion 115 146 336 345
FDIC insurance premiums 191 225 638 646
Legal and professional fees 507 258 2,655 1,075
Other 1,002 613 2,525 2,178
Total noninterest expense 9,856 8,314 28,604 24,612
Income before provision for income taxes 9,373 8,515 28,630 24,968
Provision for income taxes 1,282 1,327 4,305 3,789
Net income $ 8,091 $ 7,188 $ 24,325 $ 21,179
Basic earnings per share (in dollars per share) $ 0.48 $ 0.42 $ 1.43 $ 1.24
Diluted earnings per share (in dollars per share) $ 0.48 $ 0.42 $ 1.43 $ 1.24
Basic average shares outstanding (in shares) 17,026,828 17,026,828 17,026,828 17,026,828
Diluted average shares outstanding (in shares) 17,026,828 17,026,828 17,026,828 17,026,828
Dividends per share (in dollars per share) $ 0.07 $ 0.065 $ 0.21 $ 0.195