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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Interest and fees on loans $ 18,055 $ 14,058 $ 50,279 $ 39,351
Interest on investment securities: Taxable 1,792 1,587 5,339 4,533
Interest on investment securities: Exempt from federal income tax 123 273 661 834
Total investment income 1,915 1,860 6,000 5,367
Other 1,194 267 2,686 345
Total interest income 21,164 16,185 58,965 45,063
Interest expense        
Savings 54 34 189 70
Interest-bearing transaction accounts 3,784 397 8,912 716
Time deposits 1,834 190 3,599 711
Total interest on Deposits 5,672 621 12,700 1,497
Interest Expense, Savings Deposits 54 34 189 70
Interest on deposits 5,672 621 12,700 1,497
Interest on short-term borrowings 33 47 93 86
Interest on long-term borrowings 1,475 376 3,496 1,027
Total interest expense 7,180 1,044 16,289 2,610
Net interest income 13,984 15,141 42,676 42,453
Credit loss expense - loans 322   1,170  
Credit loss expense - loans   (108)   97
Credit loss expense - debt securities held to maturity 45   45  
Credit loss expense - off-balance sheet credit exposures (104) 7 (14) 12
Total credit loss expense 263 (101) 1,201 109
Net interest income after provision for loan losses 13,721 15,242 41,475 42,344
Other operating income        
Net gains on investments, available for sale       3
Net gains on investments, held to maturity   93   93
Net gains on sales of residential mortgage loans 182 3 322 31
Net gains on disposal of fixed assets       34
Net gains 182 96 322 161
Total other income 4,716 4,604 13,538 13,399
Total other operating income 4,898 4,700 13,860 13,560
Other operating expenses        
Salaries and employee benefits 6,957 6,130 21,112 17,891
FDIC premiums 254 150 724 479
Equipment expense 1,029 1,037 3,168 3,110
Occupancy expense of premises 747 734 2,274 2,172
Data processing expense 1,011 890 2,926 2,516
Marketing expense 220 152 474 409
Professional services     1,530 873
Professional services 490 (211)    
Contract labor 173 159 471 482
Telephone 115 112 341 365
Total other real estate owned expenses, net 139 128 281 375
Investor relations 83 39 272 258
Charitable contribution 74 121 217 184
Other 1,493 888 4,144 2,425
Total other operating expenses 12,785 10,329 37,934 31,539
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 5,834 9,613 17,401 24,365
Provision for income tax expense 1,321 2,677 4,099 6,286
Net Income $ 4,513 $ 6,936 $ 13,302 $ 18,079
Basic net income per share $ 0.67 $ 1.04 $ 1.99 $ 2.72
Diluted net income per share $ 0.67 $ 1.04 $ 1.98 $ 2.72
Weighted average number of basic shares outstanding 6,714 6,658 6,698 6,645
Weighted average number of diluted shares outstanding 6,728 6,669 6,714 6,655
Dividends declared per common share $ 0.20 $ 0.15 $ 0.60 $ 0.45
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 569 $ 523 $ 1,631 $ 1,451
Other Service Charges [Member]        
Other operating income        
Total other income 230 241 706 686
Trust Department [Member]        
Other operating income        
Total other income 2,139 2,005 6,134 6,238
Debit Card Income [Member]        
Other operating income        
Total other income 995 1,053 2,981 2,922
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 320 302 936 891
Brokerage Commissions [Member]        
Other operating income        
Total other income 245 272 800 805
Other [Member]        
Other operating income        
Total other income $ 218 $ 208 $ 350 $ 406