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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and Dividend Income    
Interest and fees on loans $ 13,395 $ 10,081
Interest and dividends on securities 1,018 874
Other income 189 19
Total interest and dividend income 14,602 10,974
Interest Expense    
Interest expense on deposits 3,970 745
Interest expense on borrowings 768 115
Total interest expense 4,738 860
Net interest income 9,864 10,114
Provision for credit losses   221
Provision for credit losses 1,014  
Net interest income after provision for credit losses 8,850 9,893
Non-interest Income    
Service charges on deposit accounts 708 706
Net gain on sales of loans 10 400
Increase in cash surrender value of life insurance 160 157
Gain on disposal of premises and equipment 17  
Investment advisory income 309 340
Other 172 108
Total non-interest income 1,376 1,711
Non-interest Expense    
Salaries and employee benefits 5,240 5,519
Occupancy 1,079 1,098
Data processing 472 486
Professional fees 366 394
Marketing 104 117
FDIC deposit insurance and other insurance 282 182
Amortization of intangible assets 24 27
Other 1,636 1,282
Total non-interest expense 9,203 9,105
Income before income taxes 1,023 2,499
Provision for income taxes 225 446
Net income $ 798 $ 2,053
Earnings per common share:    
Basic (in dollars per share) $ 0.07 $ 0.19
Diluted (in dollars per share) $ 0.07 $ 0.19
Weighted average shares outstanding, basic 10,881,885 10,815,348
Weighted average shares outstanding, diluted 11,021,395 11,009,312