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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and Dividend Income    
Interest and fees on loans $ 14,381 $ 13,395
Interest and dividends on securities 1,037 1,018
Other income 217 189
Total interest and dividend income 15,635 14,602
Interest Expense    
Interest expense on deposits 5,134 3,970
Interest expense on borrowings 1,605 768
Total interest expense 6,739 4,738
Net interest income 8,896 9,864
Provision for credit losses 83 1,014
Net interest income after provision for credit losses 8,813 8,850
Non-interest Income    
Service charges on deposit accounts 743 708
Net gain on sales of loans 46 10
Increase in cash surrender value of life insurance 184 160
Net gain from sale of other real estate owned 4  
(Loss) gain on disposal of premises and equipment (18) 17
Investment advisory income 381 309
Other 166 172
Total non-interest income 1,506 1,376
Non-interest Expense    
Salaries and employee benefits 4,992 5,240
Occupancy 1,053 1,079
Data processing 495 472
Professional fees 414 366
Marketing 121 104
FDIC deposit insurance and other insurance 253 282
Amortization of intangible assets 21 24
Other 1,528 1,636
Total non-interest expense 8,877 9,203
Income before income taxes 1,442 1,023
Provision for income taxes 321 225
Net income $ 1,121 $ 798
Earnings per common share:    
Basic (in dollars per share) $ 0.10 $ 0.07
Diluted (in dollars per share) $ 0.10 $ 0.07
Weighted average shares outstanding, basic (in shares) 10,748,006 10,881,885
Weighted average shares outstanding, diluted (in shares) 10,844,287 11,021,395