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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Interest and fees on loans $ 53,884 $ 40,922 $ 38,330
Interest and dividends on investment securities (AFS & Equity):      
Taxable 11,794 9,396 6,551
Tax-exempt 1,460 1,965 1,796
Interest on interest-bearing balances and other interest income 1,944 138 93
Total interest income 69,082 52,421 46,770
Interest on deposits      
Interest-bearing demand 7,767 2,691 1,035
Money market 4,823 617 381
Savings 4,187 2,175 1,178
Time less than $100 3,194 723 921
Time $100 through $250 3,859 489 454
Time greater than $250 1,171 209 257
Interest on short-term borrowings 3,273 861 258
Interest on long-term debt 653 159 159
Total interest expense 28,927 7,924 4,643
Net interest income 40,155 44,497 42,127
Provision for credit losses (844) (850) 458
Net interest income after provision for loan losses 40,999 45,347 41,669
Non-interest income      
Net unrealized gain (loss) on investment equity securities 250 (1,026) 926
Net (loss) gain on sale of investment securities (2,077) 266 1,806
Net (loss) gain on investment securities (1,827) (760) 2,732
Fees for services to customers 1,651 1,614 1,326
ATM and debit card 2,735 2,719 2,682
Retail brokerage and advisory 862 788 786
Bank-owned life insurance 320 361 497
Merchant 394 394 451
Net gain on sale of loans 16 6 595
Other 686 609 712
Total non-interest income 4,837 5,731 9,781
Non-interest expense      
Salaries and employee benefits 19,026 17,306 17,453
Net occupancy 2,223 2,195 2,228
Furniture and equipment 3,602 2,917 2,787
Marketing 964 870 922
Third party services 2,422 2,474 2,160
Telephone, postage and supplies 571 748 715
State taxes 367 1,004 1,013
FDIC insurance premiums 1,058 768 793
Other 3,876 3,210 2,926
Total non-interest expense 34,109 31,492 30,997
Income before income taxes 11,727 19,586 20,453
Provision for income taxes 2,244 3,665 3,961
Net income $ 9,483 $ 15,921 $ 16,492
Earnings per share - basic $ 2.63 $ 4.47 $ 4.64
Earnings per share - diluted 2.63 4.47 4.64
Cash dividends per share $ 1.48 $ 1.44 $ 1.4