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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Interest and fees on loans $ 10,277 $ 9,333
Interest on interest-bearing deposits 1,129 228
Interest on securities – taxable 4,276 4,118
Interest on securities – nontaxable 339 365
Total interest income 16,021 14,044
Interest Expense    
Interest on time deposits 2,552 359
Interest on other deposits 5,224 2,454
Interest on borrowings 0 285
Total interest expense 7,776 3,098
Net interest income 8,245 10,946
(Recovery of) provision for credit losses (10) 2
Net interest income after (recovery of) provision for credit losses 8,255 10,944
Noninterest Income:    
Noninterest Income 1,903 1,842
BOLI income 258 239
Gain on sale of mortgage loans 24 16
Other income 319 375
Realized securities gain, net 0 12
Total noninterest income 2,199 2,199
Noninterest Expense    
Salaries and employee benefits 4,466 4,434
Occupancy, furniture and fixtures 539 542
Data processing and ATM 867 873
FDIC assessment 187 117
Net costs of other real estate owned 0 11
Franchise taxes 350 375
Professional services 240 753
Merger-related expenses 484 0
Other operating expenses 629 559
Total noninterest expense 7,762 7,664
Income before income taxes 2,692 5,479
Income tax expense 518 948
Net Income $ 2,174 $ 4,531
Basic earnings per common share (in dollars per share) $ 0.37 $ 0.77
Diluted earnings per common share (in dollars per share) $ 0.37 $ 0.77
Weighted average number of common shares outstanding, basic (in shares) 5,889,687 5,889,687
Weighted average number of common shares outstanding, diluted (in shares) 5,891,651 5,889,687
Dividends declared per common share (in dollars per share) $ 0 $ 1
Deposit Account [Member]    
Noninterest Income:    
Noninterest Income $ 675 $ 592
Product and Service, Other [Member]    
Noninterest Income:    
Noninterest Income 46 53
Credit and Debit Card [Member]    
Noninterest Income:    
Noninterest Income 374 467
Fiduciary and Trust [Member]    
Noninterest Income:    
Noninterest Income $ 503 $ 445