XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and Dividend Income        
Interest and fees on loans $ 14,524 $ 13,313 $ 28,905 $ 26,708
Interest and dividends on securities 957 1,228 1,994 2,246
Other income 295 398 512 587
Total interest and dividend income 15,776 14,939 31,411 29,541
Interest Expense        
Interest expense on deposits 5,370 4,264 10,504 8,234
Interest expense on borrowings 1,269 1,375 2,874 2,143
Total interest expense 6,639 5,639 13,378 10,377
Net interest income 9,137 9,300 18,033 19,164
Provision for (reversal of) credit losses 447 (452) 530 562
Net interest income after provision for (reversal of) credit losses 8,690 9,752 17,503 18,602
Non-interest Income        
Service charges on deposit accounts 736 718 1,479 1,426
Net gain on sales of loans 35 52 81 62
Increase in cash surrender value of life insurance 188 164 372 324
Net gain from sale of other real estate owned     4  
Gain (loss) on disposal of premises and equipment   19 (18) 36
Investment advisory income 378 234 759 543
Other 177 171 343 343
Total non-interest income 1,514 1,358 3,020 2,734
Non-interest Expense        
Salaries and employee benefits 4,912 4,952 9,904 10,192
Occupancy 1,062 1,087 2,115 2,166
Data processing 521 506 1,016 978
Professional fees 458 616 872 982
Marketing 115 143 236 247
FDIC deposit insurance and other insurance 261 354 514 636
Amortization of intangible assets 20 21 41 45
Other 1,598 1,610 3,126 3,246
Total non-interest expense 8,947 9,289 17,824 18,492
Income before income taxes 1,257 1,821 2,699 2,844
Provision for income taxes 282 390 603 615
Net income $ 975 $ 1,431 $ 2,096 $ 2,229
Earnings per common share:        
Basic (in dollars per share) $ 0.09 $ 0.13 $ 0.19 $ 0.21
Diluted (in dollars per share) $ 0.09 $ 0.13 $ 0.19 $ 0.20
Weighted average shares outstanding, basic (in shares) 10,753,460 10,823,598 10,750,733 10,852,563
Weighted average shares outstanding, diluted (in shares) 10,819,751 10,882,837 10,832,303 10,956,468