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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and dividend income:    
Loans, including fees $ 10,769 $ 5,938
Federal funds sold 61 12
Other interest-bearing deposits 136  
Investment securities:    
Taxable 1,012 507
Tax exempt 304 176
Dividends 62 34
Total interest and dividend income 12,344 6,667
Interest expense:    
Demand and savings deposits 676 377
Certificates and other time deposits 195 280
Borrowings 48 36
Total interest expense 919 693
Net interest income 11,425 5,974
Provision for loan losses 148 351
Net interest income after provision for loan losses 11,277 5,623
Noninterest income:    
Wealth management fees 557 329
Advisory and brokerage income 216 191
Deposit account fees 465 160
Debit/credit card and ATM fees 707 154
Bank owned life insurance income 211 107
Resolution of commercial dispute 2,400  
Other 231 98
Total noninterest income 4,787 1,039
Noninterest expense:    
Salaries and employee benefits 4,731 2,402
Net occupancy 1,197 495
Equipment 283 116
Bank franchise tax 304 173
Computer software 263 167
Data processing 738 289
FDIC deposit insurance assessment 226 63
Marketing, advertising and promotion 267 137
Merger and merger-related expenses   278
Plastics expense 139 42
Professional fees 337 177
Core deposit intangible amortization 439  
Other 1,171 442
Total noninterest expense 10,095 4,781
Income (loss) before income taxes 5,969 1,881
Provision for income taxes 1,045 376
Net income (loss) $ 4,924 $ 1,505
Net income per common share, basic $ 0.93 $ 0.55
Net income per common share, diluted $ 0.92 $ 0.55
Weighted average common shares outstanding, basic 5,311,983 2,719,840
Weighted average common shares outstanding, diluted 5,343,564 2,727,448