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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Loans, including fees $ 16,029 $ 12,001
Investment securities 2,105 831
Interest-earning deposits with banks 236 19
Dividends on FHLB stock 130 74
Total interest income 18,500 12,925
Interest expense    
Deposits 6,332 1,257
FHLB advances and other borrowings 912 300
Total interest expense 7,244 1,557
Net interest income 11,256 11,368
Provision (recapture of provision) for credit losses 300 (500)
Net interest income after provision (recapture of provision) for credit losses 10,956 11,868
Noninterest income    
BOLI income 308 288
Wealth management revenue, net 45 82
Deposit related fees 223 215
Loan related fees 91 199
Other (expense) income, net (2) 5
Total noninterest income 665 789
Noninterest expense    
Salaries and employee benefits 5,461 5,261
Occupancy and equipment 1,165 1,228
Professional fees 417 452
Data processing 686 677
Regulatory assessments 101 101
Insurance and bond premiums 130 129
Marketing 77 37
Other general and administrative 956 741
Total noninterest expense 8,993 8,626
Income before federal income tax provision 2,628 4,031
Federal income tax provision 506 771
Net income $ 2,122 $ 3,260
Earnings per common share    
Basic earnings per share (in dollars per share) $ 0.23 $ 0.36
Diluted earnings per share (in dollars per share) $ 0.23 $ 0.36
Weighted average number of common shares outstanding    
Basic shares outstanding (in shares) 9,104,371 8,987,482
Diluted shares outstanding (in shares) 9,173,276 9,117,432