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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and Dividend Income:        
Loans, including fees $ 14,185 $ 9,483 $ 27,226 $ 18,667
Due from banks 93 208 157 281
Federal funds sold 9 6 15 7
Securities:        
Taxable 1,772 1,123 3,536 2,112
Tax-exempt 209 251 421 460
Dividends and interest on all other securities 79 14 145 28
Total interest and dividend income 16,347 11,085 31,500 21,555
Interest Expense:        
Checking and savings deposits 1,569 148 2,423 324
Time deposits 1,419 320 1,956 681
Federal funds purchased, securities sold under agreements to repurchase and other borrowings 2 1 39 2
Federal Home Loan Bank advances 963 0 1,580 0
Long term borrowings 295 295 590 590
Total interest expense 4,248 764 6,588 1,597
Net interest income 12,099 10,321 24,912 19,958
Provision for credit losses 361 570 737 671
Net interest income after provision for credit losses 11,738 9,751 24,175 19,287
Noninterest Income:        
Bank-owned life insurance income 259 195 513 426
Mortgage banking income 112 113 207 333
Loss on sale of available-for-sale securities, net (164) 0 (164) 0
Loss on sale of repossessed assets (69) 0 (69) 0
Gain on sale of fixed assets 200 0 200 0
Total noninterest income 3,477 3,500 6,898 7,015
Noninterest Expense:        
Salaries and employee benefits 8,043 6,611 15,406 13,033
Occupancy and equipment 1,255 1,143 2,450 2,304
Data processing 1,264 1,151 2,443 2,241
Customer development 101 69 214 162
Professional services 756 638 1,429 1,268
Employee professional development 289 275 523 539
Other taxes 234 212 447 425
ATM and other losses 154 100 409 114
Other operating expenses 1,051 891 1,994 1,717
Total noninterest expense 13,147 11,090 25,315 21,803
Income before income taxes 2,068 2,161 5,758 4,499
Income tax expense 266 269 873 576
Net income $ 1,802 $ 1,892 $ 4,885 $ 3,923
Basic Earnings per Share:        
Weighted average shares outstanding (in shares) 5,023,305 5,086,957 5,011,481 5,136,380
Net income per share of common stock (in dollars per share) $ 0.36 $ 0.37 $ 0.97 $ 0.76
Diluted Earnings per Share:        
Weighted average shares outstanding (in shares) 5,023,603 5,087,038 5,011,697 5,136,459
Net income per share of common stock (in dollars per share) $ 0.36 $ 0.37 $ 0.97 $ 0.76
Fiduciary and Asset Management Fees [Member]        
Noninterest Income:        
Noninterest revenue $ 1,154 $ 1,061 $ 2,270 $ 2,133
Service Charges on Deposit Accounts [Member]        
Noninterest Income:        
Noninterest revenue 793 761 1,546 1,483
Other Service Charges, Commissions and Fees [Member]        
Noninterest Income:        
Noninterest revenue 1,027 1,143 2,136 2,196
Other Operating Income [Member]        
Noninterest Income:        
Noninterest revenue $ 165 $ 227 $ 259 $ 444