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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Interest and Dividend Income    
Interest and fees on loans $ 55,077 $ 44,419
Interest and dividends on securities 4,409 3,848
Other income 1,173 325
Total interest and dividend income 60,659 48,592
Interest Expense    
Interest expense on deposits 17,617 5,611
Interest expense on borrowings 5,077 1,145
Total interest expense 22,694 6,756
Net interest income 37,965 41,836
Provision for credit losses   1,414
Provision for credit losses 1,702  
Provision for (reversal of) credit losses 1,702  
Net interest income after provision for credit losses 36,263 40,422
Non-interest Income    
Service charges on deposit accounts 2,880 2,829
Net realized loss on sales and calls of securities   (170)
Net gain on sales of loans 118 864
Increase in cash surrender value of life insurance 665 640
Gain (loss) on disposal of premises and equipment 46 (38)
Gain on life insurance 221  
Investment advisory income 1,164 1,233
Other 686 538
Total non-interest income 5,780 5,896
Non-interest Expense    
Salaries and employee benefits 19,459 21,599
Occupancy 4,256 4,583
Data processing 2,015 1,882
Professional fees 1,919 1,743
Marketing 555 693
FDIC deposit insurance and other insurance 1,232 829
Other real estate owned expense 3  
Amortization of intangible assets 88 99
Write-down on branch held-for-sale 375  
Other 6,527 5,994
Total non-interest expense 36,429 37,422
Income before income taxes 5,614 8,896
Provision for income taxes 1,219 1,899
Net income $ 4,395 $ 6,997
Earnings per common share:    
Basic (in dollars per share) $ 0.41 $ 0.65
Diluted (in dollars per share) $ 0.40 $ 0.64
Weighted average shares outstanding, basic (in shares) 10,789,009 10,839,335
Weighted average shares outstanding, diluted (in shares) 10,855,552 11,004,597