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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income        
Loans and leases, including fees $ 27,189 $ 25,121 $ 79,538 $ 71,143
Securities 144 101 406 529
FHLB and FRB stock dividends 167 166 496 425
Federal funds sold and other 2,496 2,778 7,957 6,470
Total interest and dividend income 29,996 28,166 88,397 78,567
Interest expense        
Deposits 17,382 15,421 50,816 39,500
FHLB advances and other debt 785 783 2,370 2,314
Subordinated debentures 369 295 1,100 867
Total interest expense 18,536 16,499 54,286 42,681
Net interest income 11,460 11,667 34,111 35,886
Provision for credit losses        
Provision for credit losses-loans 786 1,198 5,298 1,402
Provision (reversal) for credit losses-unfunded commitments (228) (5) 58 40
Total provision for credit losses 558 1,193 5,356 1,442
Net interest income after provision for credit losses 10,902 10,474 28,755 34,444
Noninterest income        
Service charges on deposit accounts 655 396 1,837 1,079
Net gains on sales of residential mortgage loans 110 48 287 85
Net gains on sales of commercial loans 12 167 12
Swap fee income 252 444 252 616
Earnings on bank owned life insurance 216 157 633 462
Other 373 244 553 744
Total noninterest income 1,606 1,301 3,729 2,998
Noninterest expense        
Salaries and employee benefits 3,539 3,420 10,617 11,184
Occupancy and equipment 472 427 1,377 1,264
Data processing 623 532 1,887 1,568
Franchise and other taxes 326 308 968 935
Professional fees 654 635 1,907 1,873
Director fees 153 162 421 496
Postage, printing and supplies 29 31 115 123
Advertising and marketing 47 53 99 307
Telephone 51 61 154 197
Loan expenses 233 151 939 510
Depreciation 119 145 371 426
FDIC premiums 529 568 1,628 1,590
Regulatory assessment 63 63 194 181
Other insurance 45 55 152 154
Other 343 149 676 816
Total noninterest expense 7,226 6,760 21,505 21,624
Income before incomes taxes 5,282 5,015 10,979 15,818
Income tax expense 1,077 984 2,009 3,116
Net income 4,205 4,031 8,970 12,702
Earnings allocated to participating securities (Series D preferred stock) (140)   (251)  
Net income attributable to common stockholders $ 4,065 $ 4,031 $ 8,719 $ 12,702
Earnings per common share:        
Basic $ 0.65 $ 0.63 $ 1.39 $ 1.98
Diluted $ 0.65 $ 0.62 $ 1.38 $ 1.97