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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and Dividend Income        
Interest and fees on loans $ 11,404 $ 10,402 $ 32,212 $ 30,722
Interest and dividends on securities 1,002 623 2,844 1,560
Other income 147 34 210 66
Total interest and dividend income 12,553 11,059 35,266 32,348
Interest Expense        
Interest expense on deposits 1,262 866 2,773 2,816
Interest expense on borrowings 194 134 415 562
Total interest expense 1,456 1,000 3,188 3,378
Net interest income 11,097 10,059 32,078 28,970
Provision for (credit to) loan losses 545 (954) 1,112 (2,171)
Net interest income after provision for (credit to) loan losses 10,552 11,013 30,966 31,141
Non-interest Income        
Service charges on deposit accounts 713 664 2,125 1,891
Net realized loss on sales and calls of securities (8)   (170)  
Net gain on sales of loans 147 502 840 2,179
Increase in cash surrender value of life insurance 163 158 481 412
Net gain from sale of other real estate owned       2
Gain on disposal of premises and equipment       17
Gain on life insurance       195
Investment advisory income 229 237 932 812
Other 145 78 395 228
Total non-interest income 1,389 1,639 4,603 5,736
Non-interest Expense        
Salaries and employee benefits 5,357 5,162 16,393 14,749
Occupancy 1,097 1,060 3,394 3,052
Data processing 479 450 1,421 1,269
Professional fees 419 439 1,292 1,375
Marketing 140 119 458 353
FDIC deposit insurance and other insurance 226 201 602 542
Other real estate owned expense   4   7
Amortization of intangible assets 24 27 75 69
Other 1,497 1,676 4,194 4,551
Total non-interest expense 9,239 9,138 27,829 25,967
Income before income taxes 2,702 3,514 7,740 10,910
Provision for income taxes 595 829 1,551 2,339
Net income $ 2,107 $ 2,685 $ 6,189 $ 8,571
Earnings per common share:        
Basic (in dollars per share) $ 0.19 $ 0.25 $ 0.57 $ 0.80
Diluted (in dollars per share) $ 0.19 $ 0.25 $ 0.56 $ 0.79
Weighted average shares outstanding, basic 10,844,240 10,774,038 10,826,862 10,755,342
Weighted average shares outstanding, diluted 10,996,309 10,946,935 10,999,745 10,914,429