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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and Dividend Income    
Loans, including fees $ 6,762 $ 5,809
Taxable 560 676
Non-taxable 1,714 1,356
Federal funds sold 487 326
Dividends on Federal Home Loan Bank and other stock 98 41
Total interest and dividend income 9,621 8,208
Interest Expense    
Deposits 1,962 1,057
Borrowings 1,544 728
Total interest expense 3,506 1,785
Net Interest Income 6,115 6,423
Credit Loss Expense    
Net Interest Income After Provision for Credit Losses 6,115 6,423
Noninterest Income    
Service charges on deposit accounts 703 721
Realized loss on sale of available-for-sale securities (194)  
Realized gains on sales of loans 77  
Earnings on bank-owned life insurance 197 188
Other income 83 107
Total noninterest income 866 1,016
Noninterest Expense    
Salaries and employee benefits 1,787 2,864
Occupancy and equipment 624 497
Professional services 610 386
FDIC insurance 108 86
Insurance 150 150
Franchise and other taxes 148 140
Advertising 113 100
Stationery and office supplies 26 30
Amortization of intangibles 38 38
Other expenses 1,234 1,147
Total noninterest expense 4,838 5,438
Income Before Federal Income Taxes 2,143 2,001
Provision for Federal Income Taxes 150 113
Net Income $ 1,993 $ 1,888
Basic Earnings Per Share (in dollars per share) $ 0.35 $ 0.33
Diluted Earnings Per Share (in dollars per share) 0.35 0.33
Dividends Per Share (including special dividend of $0.15 in March 2024 and $0.15 in March 2023) $ 0.3225 $ 0.3125