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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income        
Interest and fees on loans $ 14,058 $ 13,667 $ 39,351 $ 39,496
Interest on investment securities: Taxable 1,587 880 4,533 2,864
Interest on investment securities: Exempt from federal income tax 273 266 834 809
Total investment income 1,860 1,146 5,367 3,673
Other 267 97 345 239
Total interest income 16,185 14,910 45,063 43,408
Interest expense        
Savings 34 17 70 63
Interest-bearing transaction accounts 397 192 716 827
Time deposits 190 523 711 1,987
Total interest on Deposits 621 732 1,497 2,877
Interest on short-term borrowings 47 17 86 67
Interest on long-term borrowings 376 536 1,027 1,840
Total interest expense 1,044 1,285 2,610 4,784
Net interest income 15,141 13,625 42,453 38,624
Provision for loan losses (108) (597) 97 68
Net interest income after provision for loan losses 15,249 14,222 42,356 38,556
Other operating income        
Net gains on investments, available for sale     3 154
Net gains/(losses) on investments, held to maturity 93 (54) 93 (54)
Net gains on sale of residential mortgage loans 3 136 31 996
Net gains on disposal of fixed assets     34 16
Net gains 96 82 161 1,112
Total other income 4,604 4,523 13,399 13,182
Total other operating income 4,700 4,605 13,560 14,294
Other operating expenses        
Salaries and employee benefits 6,130 5,719 17,891 16,214
FDIC premiums 150 209 479 575
Equipment expense 1,037 1,032 3,110 2,837
Occupancy expense of premises 734 684 2,172 2,102
Data processing expense 890 819 2,516 2,420
Marketing expense 152 129 409 408
Professional services     873 2,872
Professional services (211) 615    
Contract labor 159 153 482 486
Telephone 112 123 365 606
Losses/(gains) on sales and write downs of other real estate owned, net 128 150 375 (460)
Investor relations 39 116 258 546
Settlement expense       3,300
Contributions 121 55 184 105
FHLB prepayment penalty   2,368   2,368
Other 895 855 2,437 2,203
Total other operating expenses 10,336 13,027 31,551 36,582
Income before income tax expense 9,613 5,800 24,365 16,268
Provision for income tax expense 2,677 1,412 6,286 4,047
Net Income $ 6,936 $ 4,388 $ 18,079 $ 12,221
Basic net income per share $ 1.04 $ 0.66 $ 2.72 $ 1.81
Diluted net income per share $ 1.04 $ 0.66 $ 2.72 $ 1.81
Weighted average number of basic shares outstanding 6,658 6,617 6,645 6,741
Weighted average number of diluted shares outstanding 6,669 6,624 6,655 6,746
Dividends declared per common share $ 0.15 $ 0.15 $ 0.45 $ 0.45
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 523 $ 475 $ 1,451 $ 1,292
Other Service Charges [Member]        
Other operating income        
Total other income 241 232 686 664
Trust Department [Member]        
Other operating income        
Total other income 2,005 2,166 6,238 6,441
Debit Card Income [Member]        
Other operating income        
Total other income 1,053 900 2,922 2,623
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 302 298 891 877
Brokerage Commissions [Member]        
Other operating income        
Total other income 272 229 805 854
Other [Member]        
Other operating income        
Total other income $ 208 $ 223 $ 406 $ 431