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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest and dividend income:    
Loans, including fees $ 56,053 $ 44,231
Federal funds sold 207 1,088
Other interest bearing deposits 501 1,467
Investment securities:    
Taxable 11,554 8,416
Tax exempt 1,308 1,249
Dividends 367 280
Total interest and dividend income 69,990 56,731
Interest expense:    
Demand deposits 346 230
Money market and savings deposits 9,673 2,097
Certificates and other time deposits 8,617 657
Borrowings 1,934 200
Federal funds purchased 138  
Junior subordinated debt 313  
Total interest expense 21,021 3,184
Net interest income 48,969 53,547
Provision for credit losses 734 106
Net interest income after provision for credit losses 48,235 53,441
Noninterest income:    
Wealth management fees 1,976 2,440
Advisory and brokerage income   770
Deposit account fees 1,593 1,799
Debit/credit card and ATM fees 2,268 2,794
Bank owned life insurance income 1,764 963
Resolution of commercial dispute   2,400
Gains on sale of assets, net 112 1,043
Gain on termination of interest swap 460  
Gain on sale of business line   404
Losses on sales of AFS, net (206)  
Other 1,134 1,048
Total noninterest income 9,101 13,661
Noninterest expense:    
Salaries and employee benefits 15,900 17,260
Net occupancy 4,017 4,526
Equipment 762 897
Bank franchise tax 1,220 1,216
Computer software 778 1,136
Data processing 2,799 2,727
FDIC deposit insurance assessment 710 511
Marketing, advertising and promotion 1,098 1,224
Plastics expense 177 394
Professional fees 674 1,357
Core deposit intangible amortization 1,493 1,684
Impairment on assets held for sale   242
Other 4,435 5,382
Total noninterest expense 34,063 38,556
Income before income taxes 23,273 28,546
Provision for income taxes 4,010 5,108
Net income $ 19,263 $ 23,438
Net income per common share, basic $ 3.6 $ 4.4
Net income per common share, diluted $ 3.58 $ 4.38