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Consolidated Income Statement - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 81,963,000 $ 48,513,000
Interest-earning deposits in other institutions 1,289,000 472,000
Federal funds sold 771,000 219,000
Investment securities:    
Taxable interest 1,893,000 1,811,000
Tax-exempt interest 3,914,000 3,707,000
Dividends on stock 471,000 184,000
Total interest and dividend income 90,301,000 54,906,000
INTEREST EXPENSE    
Deposits 18,995,000 4,018,000
Short-term borrowings 5,386,000 307,000
Other borrowings 717,000 404,000
Total interest expense 25,098,000 4,729,000
NET INTEREST INCOME 65,203,000 50,177,000
Provision for credit losses 3,002,000 0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 62,201,000 50,177,000
NONINTEREST INCOME    
Loss on equity securities [1] (161,000) (173,000)
Loss on other real estate owned [1] (170,000) 0
Earnings on bank-owned life insurance [1] 823,000 459,000
Gain on sale of loans [1] 97,000 24,000
Revenue from investment services 743,000 674,000
Gross rental income [1] 421,000 951,000
Total noninterest income 6,691,000 6,746,000
NONINTEREST EXPENSE    
Salaries and employee benefits 24,511,000 17,548,000
Occupancy expense 2,566,000 2,033,000
Equipment expense 1,241,000 1,074,000
Data processing and information technology costs 4,764,000 3,701,000
Ohio state franchise tax 1,578,000 1,157,000
Federal deposit insurance expense 861,000 329,000
Professional fees 2,293,000 1,500,000
Other real estate owned writedowns 0 1,200,000
Advertising expense 1,477,000 1,033,000
Software amortization expense 95,000 143,000
Core deposit intangible amortization 1,059,000 372,000
Gross other real estate owned expenses 510,000 707,000
Merger-related costs 473,000 2,382,000
Other expense 6,709,000 4,851,000
Total noninterest expense 48,137,000 38,030,000
Income before income taxes 20,755,000 18,893,000
Income taxes 3,387,000 3,220,000
NET INCOME $ 17,368,000 $ 15,673,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 2.14 $ 2.6
Diluted (in dollars per share) $ 2.14 $ 2.59
Deposit Account [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 3,878,000 $ 3,850,000
Financial Service, Other [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 1,060,000 $ 961,000
[1] Not within scope of ASC 606