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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Interest and fees on loans $ 19,218 $ 15,444
Interest on investment securities: Taxable 1,744 1,768
Interest on investment securities: Exempt from federal income tax 53 270
Total investment income 1,797 2,038
Other 883 347
Total interest income 21,898 17,829
Interest expense    
Savings 48 79
Interest-bearing transaction accounts 4,701 2,186
Time deposits 1,517 413
Total interest on Deposits 6,266 2,678
Interest Expense, Savings Deposits 48 79
Interest on short-term borrowings 461 31
Interest on long-term borrowings 1,359 602
Total interest expense 8,086 3,311
Net interest income 13,812 14,518
Credit loss expense - loans 961 414
Credit loss expense - off-balance sheet credit exposures (15) 129
Total credit loss expense 946 543
Net interest income after provision for credit losses 12,866 13,975
Other operating income    
Net gains on sales of residential mortgage loans 82 54
Net gains 82 54
Total other income 4,793 4,339
Total other operating income 4,875 4,393
Other operating expenses    
Salaries and employee benefits 7,157 7,296
FDIC premiums 269 193
Equipment expense 923 780
Occupancy expense of premises 954 785
Data processing expense 1,318 1,306
Marketing expense 134 120
Professional services 486 494
Contract labor 183 134
Telephone 109 110
Total OREO expense, net 86 124
Investor relations 53 83
Contributions 50 64
Other 1,159 1,149
Total other operating expenses 12,881 12,638
Income before income tax expense 4,860 5,730
Provision for income tax expense 1,162 1,355
Net Income $ 3,698 $ 4,375
Basic net income per share $ 0.56 $ 0.66
Diluted net income per share $ 0.56 $ 0.65
Weighted average number of basic shares outstanding 6,642 6,675
Weighted average number of diluted shares outstanding 6,655 6,697
Dividends declared per common share $ 0.20 $ 0.20
Service Charges on Deposit Accounts [Member]    
Other operating income    
Total other income $ 556 $ 516
Other Service Charges [Member]    
Other operating income    
Total other income 215 232
Trust Department [Member]    
Other operating income    
Total other income 2,188 1,970
Debit Card Income [Member]    
Other operating income    
Total other income 932 955
Bank Owned Life Insurance [Member]    
Other operating income    
Total other income 326 305
Brokerage Commissions [Member]    
Other operating income    
Total other income 495 297
Other [Member]    
Other operating income    
Total other income $ 81 $ 64