XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Loans, including fees $ 15,042 $ 14,185 $ 29,586 $ 27,226
Due from banks 1,087 93 1,886 157
Federal funds sold 12 9 21 15
Securities:        
Taxable 1,761 1,772 3,559 3,536
Tax-exempt 139 209 278 421
Dividends and interest on all other securities 77 79 171 145
Total interest and dividend income 18,118 16,347 35,501 31,500
Interest expense:        
Checking and savings deposits 2,699 1,569 5,296 2,423
Time deposits 2,337 1,419 4,509 1,956
Federal funds purchased, securities sold under agreements to repurchase and other borrowings 1 2 2 39
Federal Home Loan Bank advances 670 963 1,448 1,580
Long-term borrowings 295 295 590 590
Total interest expense 6,002 4,248 11,845 6,588
Net interest income 12,116 12,099 23,656 24,912
Provision for credit losses 261 361 341 737
Net interest income after provision for credit losses 11,855 11,738 23,315 24,175
Noninterest income:        
Bank-owned life insurance income 270 259 535 513
Mortgage banking income 2 112 18 207
Loss on sale of available-for-sale securities, net 0 (164) 0 (164)
Loss on sale of repossessed assets (58) (69) (36) (69)
Gain on sale of fixed assets 0 200 0 200
Total noninterest income 3,471 3,477 6,693 6,898
Noninterest expense:        
Salaries and employee benefits 7,195 8,043 15,026 15,406
Occupancy and equipment 1,373 1,255 2,546 2,450
Data processing 1,393 1,264 2,708 2,443
Customer development 176 101 231 214
Professional services 680 756 1,265 1,429
Employee professional development 167 289 378 523
Other taxes 276 234 537 447
Card and other losses 98 154 329 409
Other operating expenses 966 1,051 2,007 1,994
Total noninterest expense 12,324 13,147 25,027 25,315
Income before income taxes 3,002 2,068 4,981 5,758
Income tax expense 473 266 735 873
Net income $ 2,529 $ 1,802 $ 4,246 $ 4,885
Basic Earnings per Share:        
Weighted average shares outstanding (in shares) 5,064,363 5,023,305 5,052,091 5,011,481
Net income per share of common stock (in dollars per share) $ 0.5 $ 0.36 $ 0.84 $ 0.97
Diluted Earnings per Share:        
Weighted average shares outstanding (in shares) 5,064,503 5,023,603 5,052,190 5,011,697
Net income per share of common stock (in dollars per share) $ 0.5 $ 0.36 $ 0.84 $ 0.97
Fiduciary and Asset Management Fees [Member]        
Noninterest income:        
Noninterest revenue $ 1,129 $ 1,154 $ 2,321 $ 2,270
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Noninterest revenue 837 793 1,595 1,546
Other Service Charges, Commissions and Fees [Member]        
Noninterest income:        
Noninterest revenue 1,150 1,027 2,033 2,136
Other Operating Income [Member]        
Noninterest income:        
Noninterest revenue $ 141 $ 165 $ 227 $ 259