XML 11 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Interest and fees on loans $ 15,990 $ 12,852 $ 31,240 $ 25,566
Interest and dividends on available-for-sale & equity securities:        
Taxable 3,414 2,457 6,739 4,736
Tax-exempt 359 365 716 739
Interest on interest-bearing balances and other interest income 582 191 1,219 287
Total interest income 20,345 15,865 39,914 31,328
Interest on deposits        
Interest-bearing demand 2,289 1,576 4,509 2,953
Money market 2,049 1,044 4,064 1,386
Savings 924 1,093 1,873 2,170
Time less than $100 1,708 631 3,181 1,013
Time of $100 through $250 1,636 953 3,013 1,680
Time greater than $250 614 267 1,136 390
Interest on short-term borrowings 199 783 824 1,778
Interest on long-term debt 334 185 554 208
Total interest expense 9,753 6,532 19,154 11,578
Net interest income 10,592 9,333 20,760 19,750
Provision (reversal) for credit losses 114 209 28 (1,596)
Net interest income after provision for credit losses 10,478 9,124 20,732 21,346
Non-interest income        
Net (loss) gain on sales and calls of available-for-sale and equity securities (1,096) 519 (719) 54
Unrealized gain (loss) on equity securities 1,016 (573) 986 (516)
Fees for services to customers 427 414 847 816
ATM and debit card 705 704 1,341 1,363
Retail brokerage and advisory 126 202 219 436
Bank-owned life insurance 78 78 172 164
Merchant 83 106 182 199
Net (loss) gain on sale of loans (2) (5) 13 1
Other 128 135 260 282
Total non-interest income 1,465 1,580 3,301 2,799
Non-interest expense        
Salaries and employee benefits 5,038 4,775 10,012 9,338
Net occupancy 535 549 1,113 1,089
Furniture and equipment 946 918 1,883 1,755
Marketing 228 259 494 462
Third party services 661 636 1,285 1,245
Telephone, postage and supplies 123 133 249 300
State taxes 216 60 316 184
FDIC insurance premiums 342 296 687 471
Other 845 866 1,728 1,848
Total non-interest expense 8,934 8,492 17,767 16,692
Income before income taxes 3,009 2,212 6,266 7,453
Provision for income taxes 544 325 1,207 1,448
Net income $ 2,465 $ 1,887 $ 5,059 $ 6,005
Earnings per share - basic $ 0.67 $ 0.52 $ 1.38 $ 1.67
Earnings per share - diluted 0.67 0.52 1.38 1.67
Cash dividends per share $ 0.37 $ 0.37 $ 0.74 $ 0.74