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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and Dividend Income    
Loans, including fees $ 23,116 $ 15,610
Interest and dividends on investment securities 3,992 1,666
Interest on deposits with banks 156 60
Total Interest and Dividend Income 27,264 17,336
Interest Expense    
Deposits 6,729 513
Short-term borrowings 998 0
Long-term debt 469 354
Total Interest Expense 8,196 867
Net Interest Income 19,068 16,469
Provision for credit losses 670 450
Provision for unfunded commitments (18) (31)
Net Interest Income After Provision For Credit Losses 18,416 16,050
Noninterest Income    
Unrealized gains (losses) on equity securities 69 (222)
Income from bank owned life insurance 217 214
Net gains (losses) on sale of loans originated for sale 1 (4)
Total Noninterest Income 1,449 1,451
Noninterest Expense    
Compensation and benefits 5,481 5,055
Occupancy expense 847 732
Advertising 88 64
Data processing expense 1,037 1,007
Professional fees 835 731
Merger and acquisition costs 259 0
Depreciation of premises and equipment 177 149
FDIC Insurance 180 179
OREO valuation allowance and expenses 0 6
Core deposit intangible amortization 84 109
Fraud losses 28 40
Other expenses 1,154 1,008
Total Noninterest Expense 10,170 9,080
Income before income taxes 9,695 8,421
Income tax expense 2,368 2,133
Net Income $ 7,327 $ 6,288
Earnings Per Common Share    
Basic (in dollars per share) $ 1.30 $ 1.11
Diluted (in dollars per share) 1.30 1.10
Cash dividends paid per common share (in dollars per share) $ 0.175 $ 0.175
Loan appraisal, credit, and miscellaneous charges    
Noninterest Income    
Revenue $ 93 $ 176
Service charges    
Noninterest Income    
Revenue 1,069 926
Referral fee income    
Noninterest Income    
Revenue $ 0 $ 361