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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Loans, including fees:        
Taxable $ 36,555 $ 22,675 $ 68,231 $ 44,145
Tax-exempt 317 313 609 632
Investment Securities:        
Taxable 3,283 2,665 6,185 5,576
Tax-exempt 283 284 571 568
Dividends 307 248 647 488
Other 831 684 1,623 1,434
Total Interest and Dividend Income 41,576 26,869 77,866 52,843
INTEREST EXPENSE        
Deposits 7,284 2,643 13,280 4,803
Short-term borrowings 341 304 635 643
Long-term borrowings 2,939 2,958 5,849 5,840
Total Interest Expense 10,564 5,905 19,764 11,286
Net Interest Income 31,012 20,964 58,102 41,557
(Reversal of) provision for credit losses (228) (2,990) 5,740 (2,767)
Reversal of provision for credit losses and unfunded commitments (354) (259) (834) (410)
Net Interest Income after (Reversal of) Provisions for Credit Losses and Unfunded Commitments 31,594 24,213 53,196 44,734
NONINTEREST INCOME        
Insurance commissions 2,908 2,747 5,055 4,862
Earnings on investment in bank-owned life insurance 627 493 1,207 970
Gain on life insurance proceeds 31 0 285 0
Net gains on sales or calls of investment securities 22 0 22 69
Net gains (losses) on equity securities 3 1 17 (9)
Other 342 221 691 417
Total Noninterest Income 8,682 6,427 15,866 12,094
NONINTEREST EXPENSES        
Salaries and employee benefits 13,693 10,426 26,554 21,594
Equipment 2,539 1,570 4,819 3,299
Net occupancy 1,277 991 2,719 2,121
Professional services 743 529 1,320 1,145
FDIC and regulatory 435 348 836 723
Other tax 220 356 747 726
Intangible assets amortization 1,141 315 1,998 636
Merger-related 1,943 23 9,974 23
Other 3,375 1,833 5,734 3,786
Total Noninterest Expenses 25,366 16,391 54,701 34,053
Income Before Income Taxes 14,910 14,249 14,361 22,775
Income tax expense 3,262 2,970 2,985 4,728
Net Income $ 11,648 $ 11,279 $ 11,376 $ 18,047
PER SHARE DATA        
Basic earnings (in dollars per share) $ 1.11 $ 1.32 $ 1.12 $ 2.12
Diluted earnings (in dollars per share) $ 1.11 $ 1.32 $ 1.12 $ 2.12
Weighted average shares of common stock outstanding, basic (in shares) 10,451,469 8,502,268 10,130,666 8,497,686
Weighted average shares of common stock outstanding, diluted (in shares) 10,487,519 8,540,706 10,157,331 8,526,177
Service charges on deposits        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax $ 1,179 $ 1,021 $ 2,273 $ 2,012
Wealth management        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax 1,090 1,069 2,150 2,031
Gain from mortgage loans held for sale        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax 1,575 34 2,430 82
ATM debit card charges        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax $ 905 $ 841 $ 1,736 $ 1,660