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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and dividend income:        
Loans, including fees $ 14,311 $ 10,506 $ 41,537 $ 29,173
Due from banks 838 252 995 533
Federal funds sold 9 11 24 18
Securities:        
Taxable 1,788 1,297 5,324 3,409
Tax-exempt 159 272 580 732
Dividends and interest on all other securities 84 30 229 58
Total interest and dividend income 17,189 12,368 48,689 33,923
Interest expense:        
Checking and savings deposits 2,060 147 4,483 471
Time deposits 2,456 312 4,412 993
Federal funds purchased, securities sold under agreements to repurchase and other borrowings 0 43 39 45
Federal Home Loan Bank advances 952 0 2,532 0
Long-term borrowings 295 295 885 885
Total interest expense 5,763 797 12,351 2,394
Net interest income 11,426 11,571 36,338 31,529
Provision for credit losses 505 402 1,242 1,073
Net interest income after provision for credit losses 10,921 11,169 35,096 30,456
Noninterest income:        
Bank-owned life insurance income 263 227 776 653
Mortgage banking income 144 86 351 419
Gain (loss) on sale of available-for-sale securities, net 30 0 (134) 0
Loss on sale of repossessed assets 0 0 (69) 0
Gain on sale of fixed assets 0 0 200 0
Total noninterest income 3,482 3,365 10,380 10,380
Noninterest expense:        
Salaries and employee benefits 7,830 6,821 23,236 19,854
Occupancy and equipment 1,241 1,184 3,691 3,488
Data processing 1,300 1,206 3,743 3,447
Customer development 159 136 373 298
Professional services 636 647 2,065 1,915
Employee professional development 257 230 780 769
Other taxes 251 212 698 637
ATM and other losses 154 112 563 226
Other operating expenses 1,053 1,017 3,047 2,734
Total noninterest expense 12,881 11,565 38,196 33,368
Income before income taxes 1,522 2,969 7,280 7,468
Income tax expense 160 427 1,033 1,003
Net income $ 1,362 $ 2,542 $ 6,247 $ 6,465
Basic Earnings per Share:        
Weighted average shares outstanding (in shares) 5,037,558 5,015,712 5,020,269 5,095,716
Net income per share of common stock (in dollars per share) $ 0.27 $ 0.51 $ 1.24 $ 1.27
Diluted Earnings per Share:        
Weighted average shares outstanding (in shares) 5,037,662 5,015,712 5,020,447 5,095,768
Net income per share of common stock (in dollars per share) $ 0.27 $ 0.51 $ 1.24 $ 1.27
Fiduciary and Asset Management Fees [Member]        
Noninterest income:        
Noninterest revenue $ 1,012 $ 953 $ 3,282 $ 3,086
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Noninterest revenue 751 795 2,297 2,278
Other Service Charges, Commissions and Fees [Member]        
Noninterest income:        
Noninterest revenue 1,119 1,143 3,255 3,339
Other Operating Income [Member]        
Noninterest income:        
Noninterest revenue $ 163 $ 161 $ 422 $ 605