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Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 11,892,000 $ 12,258,000 $ 34,145,000 $ 36,310,000
Interest-earning deposits in other institutions 134,000 30,000 232,000 60,000
Federal funds sold 51,000 1,000 100,000 2,000
Investment securities:        
Taxable interest 449,000 461,000 1,334,000 1,241,000
Tax-exempt interest 982,000 673,000 2,721,000 1,833,000
Dividends on stock 59,000 24,000 116,000 79,000
Total interest and dividend income 13,567,000 13,447,000 38,648,000 39,525,000
INTEREST EXPENSE        
Deposits 812,000 915,000 2,247,000 3,130,000
Short-term borrowings 44,000 0 44,000 0
Other borrowings 112,000 68,000 262,000 214,000
Total interest expense 968,000 983,000 2,553,000 3,344,000
NET INTEREST INCOME 12,599,000 12,464,000 36,095,000 36,181,000
Provision for loan losses 0 0 0 900,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,599,000 12,464,000 36,095,000 35,281,000
NONINTEREST INCOME        
(Loss) gain on equity securities [1] (57,000) 102,000 (96,000) 223,000
Earnings on bank-owned life insurance [1] 108,000 108,000 322,000 440,000
Gain on sale of loans [1] 7,000 309,000 28,000 1,122,000
Revenue from investment services 233,000 190,000 527,000 529,000
Total noninterest income 1,546,000 1,821,000 4,332,000 5,671,000
NONINTEREST EXPENSE        
Salaries and employee benefits 4,491,000 4,488,000 12,662,000 13,063,000
Occupancy expense 458,000 426,000 1,546,000 1,506,000
Equipment expense 233,000 333,000 822,000 1,003,000
Data processing and information technology costs 985,000 845,000 2,650,000 2,447,000
Ohio state franchise tax 293,000 287,000 878,000 859,000
Federal deposit insurance expense 84,000 150,000 224,000 444,000
Professional fees 280,000 136,000 1,118,000 878,000
Net gain on other real estate owned [2] 1,000 9,000 215,000 77,000
Advertising expense 268,000 222,000 725,000 664,000
Software amortization expense 27,000 88,000 115,000 242,000
Core deposit intangible amortization 78,000 81,000 232,000 241,000
Merger-related costs 390,000 0 969,000 0
Other expense 1,298,000 842,000 3,531,000 2,694,000
Total noninterest expense 8,886,000 7,907,000 25,687,000 24,118,000
Income before income taxes 5,259,000 6,378,000 14,740,000 16,834,000
Income taxes 1,010,000 1,174,000 2,569,000 3,038,000
NET INCOME $ 4,249,000 $ 5,204,000 $ 12,171,000 $ 13,796,000
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.73 $ 0.85 $ 2.08 $ 2.20
Diluted (in dollars per share) $ 0.73 $ 0.85 $ 2.08 $ 2.19
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 1,004,000 $ 876,000 $ 2,874,000 $ 2,519,000
Financial Service, Other [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 251,000 $ 236,000 $ 677,000 $ 838,000
[1] Not within scope of ASC 606
[2] Recognized within noninterest expense