XML 23 R5.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Interest and dividend income    
Interest and fees on loans $ 59,313 $ 49,283
Interest on debt securities:    
Taxable 4,587 4,577
Tax exempt 1,901 1,956
Dividends 541 263
Interest on federal funds sold and overnight deposits 1,132 630
Interest on interest bearing deposits in banks 480 401
Total interest and dividend income 67,954 57,110
Interest expense    
Interest on deposits 20,574 15,893
Interest on short-term borrowed funds 1,275 935
Interest on long-term borrowed funds 7,171 1,869
Interest on subordinated notes 570 570
Total interest expense 29,590 19,267
    Net interest income 38,364 37,843
Credit loss expense (benefit), net 930 (499)
    Net interest income after credit loss expense (benefit) 37,434 38,342
Noninterest income    
Wealth management income 1,067 943
Service fees 7,040 7,002
Net losses on sales of investment securities available-for-sale (1,293) 0
Net gains on sales of loans held for sale 1,697 1,163
Net gains on other investments 216 189
Other income 996 607
Total noninterest income 9,723 9,904
Noninterest expenses    
Salaries and wages 15,678 14,247
Employee benefits 5,716 5,365
Occupancy expense, net 2,194 2,035
Equipment expense 3,992 3,722
Other expenses 10,447 10,000
Total noninterest expenses 38,027 35,369
        Income before provision for income taxes 9,130 12,877
Provision for income taxes 369 1,620
Net income $ 8,761 $ 11,257
Basic earnings per common share (in usd per share) $ 1.94 $ 2.50
Diluted earnings per common share (in usd per share) 1.92 2.48
Dividends per common share (in usd per share) $ 1.44 $ 1.44