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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST AND DIVIDEND INCOME        
Loans including fees $ 7,876 $ 6,792 $ 15,258 $ 13,466
Federal funds sold 8 1 16 1
Interest-earning deposits with banks 551 158 1,083 179
Investments 547 482 1,107 917
Dividends on equity securities (restricted) 36 27 76 54
Total interest and dividend income 9,018 7,460 17,540 14,617
INTEREST EXPENSE        
Deposits 1,645 404 2,791 834
Borrowed funds 373 212 682 318
Total interest expense 2,018 616 3,473 1,152
NET INTEREST INCOME 7,000 6,844 14,067 13,465
PROVISION FOR CREDIT LOSSES 149 75 149 175
NET INTEREST INCOME AFTER        
PROVISION FOR CREDIT LOSSES 6,851 6,769 13,918 13,290
NONINTEREST INCOME        
Service charges and fees 961 897 1,877 1,904
Card processing and interchange 943 1,027 1,842 1,943
Insurance and investment fees 306 242 563 483
Other noninterest income 194 182 520 387
Total noninterest income 2,404 2,348 4,802 4,717
NONINTEREST EXPENSES        
Salaries and employee benefits 3,652 3,382 7,202 6,657
Occupancy and equipment expense 975 1,017 1,935 2,023
Data processing and telecommunications 619 601 1,261 1,155
Other operating expenses 1,789 1,658 3,505 3,262
Total noninterest expenses 7,035 6,658 13,903 13,097
INCOME BEFORE INCOME TAXES 2,220 2,459 4,817 4,910
INCOME TAX EXPENSE 497 536 1,073 1,066
NET INCOME $ 1,723 $ 1,923 $ 3,744 $ 3,844
Earnings per share        
Earnings per shares, basic $ 0.07 $ 0.08 $ 0.16 $ 0.16
Earnings per shares, diluted $ 0.07 $ 0.08 $ 0.16 $ 0.16
Average Weighted Shares of Common Stock        
Weighted average number of common shares outstanding, basic 23,817,903 23,915,869 23,829,468 23,918,960
Weighted average number of common shares outstanding, diluted 23,817,903 23,915,869 23,829,468 23,918,960