XML 55 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest Income:        
Interest and fees on loans $ 13,765 $ 13,576 $ 27,707 $ 27,056
Interest on investment securities 1,140 1,303 2,346 2,657
Interest on deposits at other banks 99 93 233 137
Total interest income 15,004 14,972 30,286 29,850
Interest Expense:        
Interest on deposits 2,868 1,857 5,649 3,581
Interest on other borrowed funds 273 1,593 481 3,036
Total interest expense 3,141 3,450 6,130 6,617
Net Interest Income 11,863 11,522 24,156 23,233
Provision for credit losses 1,858 19 4,158 192
Net Interest Income after Provision for Credit Losses 10,005 11,503 19,998 23,041
Noninterest Income:        
Customer service fees 726 718 1,364 1,424
Increase in cash surrender value of bank-owned life insurance 132 130 264 267
Gain on proceeds from bank-owned life insurance 0 573 0 573
Loss on fair value of junior subordinated debentures (317) (225) (48) (520)
(Loss) gain on sale of assets (54) 0 (54) 11
Other 271 321 596 816
Total noninterest income 758 1,517 2,122 2,571
Noninterest Expense:        
Salaries and employee benefits 3,845 3,390 7,771 6,888
Occupancy expense 930 884 1,896 1,741
Data processing 399 198 806 309
Technology 687 650 1,338 1,414
Professional fees 350 642 996 886
Loan-related expenses 116 217 133 432
Regulatory assessments 169 162 342 335
Director expenses 289 103 391 232
Other 954 727 1,671 1,471
Total noninterest expense 7,739 6,973 15,344 13,708
Income before provision for taxes 3,024 6,047 6,776 11,904
Provision for income taxes 855 1,750 1,925 3,446
Net income $ 2,169 $ 4,297 $ 4,851 $ 8,458
Net Income per common share        
Basic (in usd per share) $ 0.13 $ 0.25 $ 0.28 $ 0.49
Diluted (in usd per share) $ 0.13 $ 0.25 $ 0.28 $ 0.49
Weighted average common shares outstanding        
Basic (in shares) 17,235,873 17,186,266 17,232,825 17,178,566
Diluted (in shares) 17,260,392 17,187,266 17,261,463 17,179,559