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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Loans $ 13,830 $ 13,722 $ 27,305 $ 25,099
Due from banks interest bearing accounts 2,084 2,503 3,799 4,903
Investment securities        
Taxable 3,088 2,673 5,933 5,356
Non-taxable 261 220 513 493
Other earning assets 267 165 523 343
Total interest and dividend income 19,530 19,283 38,073 36,194
Interest expense:        
Deposits 3,552 1,501 6,733 2,431
Total interest expense 3,552 1,501 6,733 2,431
Net interest income 15,978 17,782 31,340 33,763
Provision for credit losses 1,050 2,600 750 2,600
Net interest income after provision for credit losses 14,928 15,182 30,590 31,163
Non-interest income:        
Service charges on deposit accounts 437 411 865 823
Gains on sales of loans held-for-sale 5 13 5 31
Investment and brokerage services income 137 130 276 251
Mortgage brokerage income 11 0 20 10
Loan servicing income 66 66 133 130
Debit card income 705 727 1,364 1,381
Losses on sales/calls of available-for-sale securities (38) (66) (80) (64)
Gain on bargain purchase 0 0 0 1,405
Other income 161 225 408 412
Total non-interest income 1,484 1,506 2,991 4,379
Non-interest expenses:        
Salaries and employee benefits 5,593 6,471 12,264 13,276
Occupancy and equipment 1,183 1,057 2,310 2,074
Data processing 966 997 1,986 2,016
Stationery and supplies 82 69 142 169
Advertising 86 65 194 211
Directors' fees 86 85 155 151
Amortization of core deposit intangible 203 226 414 377
Other expense 2,100 1,397 4,061 3,377
Total non-interest expenses 10,299 10,367 21,526 21,651
Income before provision for income taxes 6,113 6,321 12,055 13,891
Provision for income taxes 1,689 1,757 3,355 3,838
Net income $ 4,424 $ 4,564 $ 8,700 $ 10,053
Basic earnings per common share (in dollars per share) $ 0.29 $ 0.3 $ 0.57 $ 0.66
Diluted earnings per common share (in dollars per share) $ 0.29 $ 0.3 $ 0.57 $ 0.66