XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:    
Loans $ 13,475 $ 11,377
Due from banks interest bearing accounts 1,715 2,400
Investment securities    
Taxable 2,845 2,683
Non-taxable 252 273
Other earning assets 256 178
Total interest and dividend income 18,543 16,911
Interest expense:    
Deposits 3,181 930
Total interest expense 3,181 930
Net interest income 15,362 15,981
Reversal of provision for credit losses (300) 0
Net interest income after reversal of provision for credit losses 15,662 15,981
Non-interest income:    
Service charges on deposit accounts 428 412
Gains on sales of loans held-for-sale 0 18
Investment and brokerage services income 139 121
Mortgage brokerage income 9 10
Loan servicing income 67 64
Debit card income 659 654
(Losses) gains on sales/calls of available-for-sale securities (42) 2
Gain on bargain purchase 0 1,405
Other income 247 187
Total non-interest income 1,507 2,873
Non-interest expenses:    
Salaries and employee benefits 6,671 6,805
Occupancy and equipment 1,127 1,017
Data processing 1,020 1,019
Stationery and supplies 60 100
Advertising 108 146
Directors' fees 69 66
Amortization of core deposit intangible 210 151
Other expense 1,962 1,980
Total non-interest expenses 11,227 11,284
Income before provision for income taxes 5,942 7,570
Provision for income taxes 1,666 2,081
Net income $ 4,276 $ 5,489
Basic earnings per common share (in dollars per share) $ 0.28 $ 0.36
Diluted earnings per common share (in dollars per share) $ 0.28 $ 0.36