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Consolidated Condensed Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST AND DIVIDEND INCOME    
Loans, including fees $ 45,016 $ 40,856
Taxable securities 6,415 6,550
Tax exempt securities 2,635 2,841
Dividends 362 376
Federal funds sold and other interest income 626 610
TOTAL INTEREST AND DIVIDEND INCOME 55,054 51,233
INTEREST EXPENSE    
Deposits 18,390 12,707
Short-term borrowings 3,939 921
Long-term borrowings 1,038 995
TOTAL INTEREST EXPENSE 23,367 14,623
NET INTEREST INCOME 31,687 36,610
(Credit) provision for credit losses (270) 8,305
(Credit) provision for unfunded loans (179) 294
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 32,136 28,011
NONINTEREST INCOME    
Bank owned life insurance income 707 547
Security (losses) gains, including fair value changes for equity securities (2,120) 121
Net gains on sale of loans 297 310
Other mortgage banking income, net 125 153
Other operating income 1,111 1,330
TOTAL NONINTEREST INCOME 8,357 10,425
NONINTEREST EXPENSES    
Salaries and employee benefits 15,069 14,645
Occupancy and equipment 3,730 3,869
FDIC insurance and state and local taxes 1,345 1,222
Professional fees 1,254 1,114
Merger related costs 0 4,313
Advertising 431 409
Intangible amortization 688 909
Core processing charges 1,135 1,164
Other operating expenses 3,387 3,077
TOTAL NONINTEREST EXPENSES 27,039 30,722
Income before taxes 13,454 7,714
INCOME TAXES 2,214 639
Net income $ 11,240 $ 7,075
EARNINGS PER SHARE - basic $ 0.3 $ 0.19
EARNINGS PER SHARE - diluted $ 0.3 $ 0.19
Service Charges on Deposit Accounts    
NONINTEREST INCOME    
Noninterest income $ 1,583 $ 1,432
Trust Fees    
NONINTEREST INCOME    
Noninterest income 2,793 2,587
Insurance Agency Commissions    
NONINTEREST INCOME    
Noninterest income 1,528 1,456
Retirement Plan Consulting Fees    
NONINTEREST INCOME    
Noninterest income 334 307
Investment Commissions    
NONINTEREST INCOME    
Noninterest income 432 393
Debit Card and EFT Fees    
NONINTEREST INCOME    
Noninterest income $ 1,567 $ 1,789