XML 11 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest Income        
Loans, including fees $ 36,873 $ 33,783 $ 108,666 $ 94,851
Debt securities:        
U.S. Treasury and government agencies 1,467 1,005 3,660 3,103
Municipalities 387 392 1,170 1,201
Dividends 334 246 994 517
Federal funds sold 7 6 21 36
Other 2,833 927 7,210 1,830
Total interest income 41,901 36,359 121,721 101,538
Interest Expense        
Deposits 16,947 13,323 48,714 31,908
Federal funds purchased and securities sold under agreements to repurchase 277 349 837 1,181
Borrowed funds 2,804 2,741 8,235 6,134
Subordinated notes 284 284 853 853
Total interest expense 20,312 16,697 58,639 40,076
Net Interest Income - Before Provision for Credit Losses 21,589 19,662 63,082 61,462
Provision for Credit Losses - Loans 282 460 598 1,420
Provision for Credit Losses - Off Balance Sheet Credit Exposures (267) (76) (551) (143)
Net Interest Income - After Provision for Credit Losses 21,574 19,278 63,035 60,185
Noninterest Income        
Interchange income 1,315 1,266 4,074 4,008
Loan servicing income 710 502 1,762 3,739
Net gain on sale of loans 215 294 636 469
Increase in cash surrender value of bank owned life insurance 265 221 717 618
Net loss on sale of available-for-sale securities     0 (891)
Total noninterest income 3,960 3,664 11,573 12,113
Noninterest Expense        
Salaries and wages 7,713 6,777 23,148 19,934
Employee benefits 2,112 2,066 6,395 6,302
Net occupancy expense 1,054 950 3,080 2,646
Furniture and equipment 1,472 1,189 4,232 3,652
Data processing 339 840 1,287 2,362
Franchise taxes 410 434 1,230 1,179
ATM expense 472 640 1,342 1,946
Advertising 597 865 1,646 2,209
Net (gain) loss on sale of other assets owned   49 (49) 49
FDIC assessment 516 586 1,603 1,388
Servicing rights amortization - net 219 106 574 429
Loan expense 244 241 724 809
Consulting fees 251 179 635 640
Professional Fees 453 358 1,425 1,099
Intangible asset amortization 445 445 1,334 1,334
Other general and administrative 1,128 1,319 3,956 4,841
Total noninterest expense 17,425 17,044 52,562 50,819
Income Before Income Taxes 8,109 5,898 22,046 21,479
Income Taxes 1,593 1,121 4,489 4,235
Net Income $ 6,516 $ 4,777 $ 17,557 $ 17,244
Basic Earnings Per Share $ 0.48 $ 0.35 $ 1.28 $ 1.26
Diluted Earnings Per Share 0.48 0.35 1.28 1.26
Dividends Declared $ 0.22125 $ 0.21 $ 0.66125 $ 0.63
Customer Service Fees [Member]        
Noninterest Income        
Noninterest income $ 300 $ 248 $ 1,087 $ 917
Other Service Charges and Fees [Member]        
Noninterest Income        
Noninterest income $ 1,155 $ 1,133 $ 3,297 $ 3,253