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CONSOLIDATED STATEMENTS OF NET INCOME - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:        
Residential and commercial real estate loans $ 22,547 $ 20,950 $ 44,263 $ 41,903
Commercial and industrial loans 3,596 3,310 6,788 6,515
Consumer loans 71 80 147 163
Total interest income from loans 26,214 24,340 51,198 48,581
Investment securities, taxable 2,587 2,139 5,008 4,252
Investment securities, tax-exempt 1 2
Marketable equity securities 1 1 2 1
Total interest and dividend income from investment securities 2,588 2,141 5,010 4,255
Other investments 169 148 360 284
Short-term investments 641 173 1,481 286
Total interest income from cash and cash equivalents 810 321 1,841 570
Total interest and dividend income 29,612 26,802 58,049 53,406
Interest expense:        
Deposits 10,437 10,335 21,813 19,628
Short-term borrowings 47 186 101 469
Long-term debt 1,232 1,557 2,451 2,985
Subordinated debt 254 254 508 508
Total interest expense 11,970 12,332 24,873 23,590
Net interest and dividend income 17,642 14,470 33,176 29,816
Reversal of credit losses (615) (294) (473) (844)
Net interest and dividend income after reversal of credit losses 18,257 14,764 33,649 30,660
Non-interest income:        
Service charges and fees 2,528 2,341 4,812 4,560
Income from bank-owned life insurance 516 502 989 955
Net unrealized gain on marketable equity securities 25 4 20 12
Loss on sale of premises and equipment (6)
Gain on sale of mortgages 4 11
Gain on non-marketable equity investments 243 987 243 987
Other income 95 95
Total non-interest income 3,411 3,834 6,170 6,508
Non-interest expense:        
Salaries and employees benefits 8,831 7,901 17,244 16,145
Occupancy 1,265 1,218 2,677 2,581
Furniture and equipment 491 483 978 967
Data processing 933 846 1,815 1,708
Software 645 566 1,304 1,265
Debit card and ATM processing expense 674 643 1,251 1,195
Professional fees 623 581 1,169 1,150
FDIC insurance assessment 399 323 830 733
Advertising 443 339 872 688
Other expenses 1,352 1,414 2,700 2,664
Total non-interest expense 15,656 14,314 30,840 29,096
Income before income taxes 6,012 4,284 8,979 8,072
Income tax provision 1,422 771 2,086 1,598
Net income $ 4,590 $ 3,513 $ 6,893 $ 6,474
Earnings per common share:        
Basic earnings per share $ 0.23 $ 0.17 $ 0.34 $ 0.31
Weighted average basic shares outstanding 20,210,650 21,056,173 20,297,582 21,118,571
Diluted earnings per share $ 0.23 $ 0.17 $ 0.34 $ 0.31
Weighted average diluted shares outstanding 20,312,881 21,163,762 20,413,006 21,217,543
Dividends per share $ 0.07 $ 0.07 $ 0.14 $ 0.14