XML 19 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest Income:    
Loans (including fees) $ 167,140 $ 126,002
Deposits with other banks 6,268 1,324
Securities (including FHLB stock) 9,601 9,250
Federal funds sold 0 0
Total Interest Income 183,009 136,576
Interest Expense:    
Demand deposits 60,243 21,419
Savings deposits 3,554 915
Time deposits 23,967 10,682
Borrowings 10,540 3,518
Total Interest Expense 98,304 36,534
Net Interest Income 84,705 100,042
Less: Provision for credit losses 3,714 3,656
Net Interest Income after Provision for Credit Losses 80,991 96,386
Noninterest Income:    
Service charges, commissions and fees 3,401 3,160
ATM and debit card fees 3,242 3,406
Net gains (losses) on securities 0 (17)
Net gains on sale of loans 12 1,774
Other 3,922 2,686
Total Noninterest Income 10,577 11,009
Noninterest Expense:    
Salaries and employee benefits 40,422 36,699
Occupancy and equipment expense 9,027 8,932
Other 30,223 25,374
Total Noninterest Expense 79,672 71,005
Income Before Income Taxes 11,896 36,390
Less: Provision for income taxes 2,677 7,506
Net Income 9,219 28,884
Less: Preferred stock dividends 2,329 2,328
Net Income Available to Common Shareholders $ 6,890 $ 26,556
Per Common Share:    
Earnings (in dollars per share) $ 0.62 $ 2.48
Cash dividends paid (in dollars per share) $ 0.64 $ 0.64
Weighted Average Common Shares Outstanding (in shares) 11,165,303 10,716,796