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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:          
Interest and fees on loans $ 47,687,000 $ 45,621,000 $ 45,320,000 $ 93,308,000 $ 90,867,000
Interest on interest-earning deposits 1,750,000 2,014,000 3,353,000 3,764,000 8,393,000
Interest on investment securities 4,213,000 4,136,000 3,631,000 8,349,000 7,242,000
Dividend income on FHLB stock 324,000 330,000 327,000 654,000 658,000
Interest on federal funds sold and other 231,000 235,000 255,000 466,000 521,000
Total interest and dividend income 54,205,000 52,336,000 52,886,000 106,541,000 107,681,000
Interest expense:          
Interest on savings deposits, NOW and money market accounts 4,567,000 4,468,000 4,953,000 9,035,000 9,431,000
Interest on time deposits 19,250,000 19,084,000 21,850,000 38,334,000 45,172,000
Interest on long-term debt and subordinated debentures 1,634,000 1,632,000 1,679,000 3,266,000 3,358,000
Interest on FHLB advances 1,420,000 989,000 439,000 2,409,000 878,000
Total interest expense 26,871,000 26,173,000 28,921,000 53,044,000 58,839,000
Net interest income before provision for credit losses 27,334,000 26,163,000 23,965,000 53,497,000 48,842,000
Provision for credit losses 2,387,000 6,746,000 557,000 9,133,000 557,000
Net interest income after provision for credit losses 24,947,000 19,417,000 23,408,000 44,364,000 48,285,000
Noninterest income:          
Service charges and fees 1,060,000 1,017,000 1,064,000 2,077,000 2,056,000
Gain on sale of loans 358,000 81,000 451,000 439,000 763,000
Loan servicing income, net of amortization 541,000 588,000 579,000 1,129,000 1,168,000
Increase in cash surrender value of life insurance 411,000 403,000 385,000 814,000 767,000
Gain on other real estate owned 0 0 292,000 0 1,016,000
Other income 6,108,000 206,000 717,000 6,314,000 1,090,000
Total noninterest income 8,478,000 2,295,000 3,488,000 10,773,000 6,860,000
Noninterest expense:          
Salaries and employee benefits 11,080,000 10,643,000 9,533,000 21,723,000 19,460,000
Occupancy and equipment expenses 2,377,000 2,407,000 2,439,000 4,784,000 4,882,000
Data processing 1,713,000 1,602,000 1,466,000 3,315,000 2,886,000
Legal and professional 2,904,000 1,515,000 1,260,000 4,419,000 2,140,000
Office expenses 405,000 408,000 352,000 813,000 708,000
Marketing and business promotion 212,000 197,000 189,000 409,000 361,000
Insurance and regulatory assessments 709,000 730,000 981,000 1,439,000 1,963,000
Other expenses 921,000 848,000 703,000 1,769,000 1,291,000
Total noninterest expense 20,493,000 18,522,000 17,124,000 39,015,000 34,093,000
Net income before income taxes 12,932,000 3,190,000 9,772,000 16,122,000 21,052,000
Income tax expense 3,599,000 900,000 2,527,000 4,499,000 5,771,000
Net income $ 9,333,000 $ 2,290,000 $ 7,245,000 $ 11,623,000 $ 15,281,000
Net income per share          
Basic (in dollars per share) $ 0.53 $ 0.13 $ 0.39 $ 0.66 $ 0.83
Diluted (in dollars per share) $ 0.52 $ 0.13 $ 0.39 $ 0.65 $ 0.82
Weighted-average common shares outstanding          
Basic (in shares) 17,746,607 17,727,712 18,375,970 17,737,212 18,488,623
Diluted (in shares) 17,797,735 17,770,588 18,406,897 17,784,237 18,529,299
Core Deposits [Member]          
Noninterest expense:          
Core deposit intangible $ 172,000 $ 172,000 $ 201,000 $ 344,000 $ 402,000