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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans $ 12,065 $ 11,454
Investment securities 4,313 4,540
Other investments 1,613 727
Total interest income 17,991 16,721
Interest expense:    
Deposits 6,779 3,530
Advances from the Federal Home Loan Bank 1,810 1,054
Advances from the Federal Reserve Bank 595  
Securities sold under agreements to repurchase 46 46
Total interest expense 9,230 4,630
Net interest income 8,761 12,091
Provision (reversal of provision) for credit losses 19 (100)
Net interest income after provision (reversal of provision) for credit losses 8,742 12,191
Noninterest income:    
Service and other fees 273 310
Income on bank-owned life insurance 246 203
Net gain on sale of loans   1
Other 74 75
Total noninterest income 593 589
Noninterest expense:    
Salaries and employee benefits 4,962 5,404
Occupancy 1,738 1,623
Equipment 1,323 1,312
Federal deposit insurance premiums 496 245
Other general and administrative expenses 1,541 1,029
Total noninterest expense 10,060 9,613
(Loss) income before income taxes (725) 3,167
Income tax (benefit) expense (243) 851
Net (loss) income $ (482) $ 2,316
Basic (loss) earnings per share (in dollars per share) $ (0.06) $ 0.26
Diluted (loss) earnings per share (in dollars per share) (0.06) 0.26
Cash dividends declared per common share (in dollars per share) $ 0.05 $ 0.23
Basic weighted-average shares outstanding (in shares) 8,588,137 8,774,634
Diluted weighted-average shares outstanding (in shares) 8,630,719 8,806,744