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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Interest and fees on loans $ 16,780 $ 12,861 $ 32,224 $ 25,293
Interest on investment securities: Taxable 1,779 1,540 3,547 2,946
Interest on investment securities: Exempt from federal income tax 268 279 538 561
Total investment income 2,047 1,819 4,085 3,507
Other 1,145 51 1,492 78
Total interest income 19,972 14,731 37,801 28,878
Interest expense        
Savings 56 18 135 36
Interest-bearing transaction accounts 2,941 167 5,128 319
Time deposits 1,353 216 1,765 521
Total interest on Deposits 4,350 401 7,028 876
Interest Expense, Savings Deposits 56 18 135 36
Interest on deposits 4,350 401 7,028 876
Interest on short-term borrowings 29 21 60 39
Interest on long-term borrowings 1,419 338 2,021 651
Total interest expense 5,798 760 9,109 1,566
Net interest income 14,174 13,971 28,692 27,312
Credit loss expense - loans 434   848  
Credit loss expense - loans   624   205
Credit loss expense - off-balance sheet credit exposures (39) 7 90 5
Credit loss expense/(credit) 395 631 938 210
Net interest income after provision for loan losses 13,779 13,340 27,754 27,102
Other operating income        
Net gains on investments, available for sale       3
Net gains on sale of residential mortgage loans 86 7 140 28
Net gains on disposal of fixed assets   6   34
Net gains 86 13 140 65
Total other income 4,483 4,413 8,822 8,795
Total other operating income 4,569 4,426 8,962 8,860
Other operating expenses        
Salaries and employee benefits 6,865 5,793 14,155 11,761
FDIC premiums 277 155 470 329
Equipment expense 1,047 1,029 2,139 2,073
Occupancy expense of premises 743 711 1,527 1,438
Data processing expense 946 805 1,915 1,626
Marketing expense 137 151 254 257
Professional services 522 564 1,040 1,084
Contract labor 159 158 298 323
Telephone 116 139 226 253
Losses/(gains) on sales and write downs of other real estate owned, net 18 152 142 247
Investor relations 132 123 189 219
Charitable contribution 79 42 143 63
Other 1,470 808 2,651 1,537
Total other operating expenses 12,511 10,630 25,149 21,210
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 5,837 7,136 11,567 14,752
Provision for income tax expense 1,423 1,708 2,778 3,609
Net Income $ 4,414 $ 5,428 $ 8,789 $ 11,143
Basic net income per share $ 0.66 $ 0.82 $ 1.32 $ 1.68
Diluted net income per share $ 0.66 $ 0.82 $ 1.31 $ 1.68
Weighted average number of basic shares outstanding 6,704 6,650 6,689 6,639
Weighted average number of diluted shares outstanding 6,718 6,661 6,707 6,649
Dividends declared per common share $ 0.20 $ 0.15 $ 0.40 $ 0.30
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 546 $ 463 $ 1,062 $ 928
Other Service Charges [Member]        
Other operating income        
Total other income 244 232 476 445
Trust Department [Member]        
Other operating income        
Total other income 2,025 2,044 3,995 4,233
Debit Card Income [Member]        
Other operating income        
Total other income 1,031 983 1,986 1,869
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 311 297 616 589
Brokerage Commissions [Member]        
Other operating income        
Total other income 258 313 555 533
Other [Member]        
Other operating income        
Total other income $ 68 $ 81 $ 132 $ 198