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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 8,711 $ 6,032 $ 16,680 $ 11,809
Taxable securities 1,945 1,660 3,957 2,941
Nontaxable securities 102 108 203 218
Other 444 203 989 277
Total interest and dividend income 11,202 8,003 21,829 15,245
INTEREST EXPENSE        
Deposits 2,128 344 3,712 693
Short-term borrowings 70 14 136 26
Other borrowings 10 15 22 31
Total interest expense 2,208 373 3,870 750
NET INTEREST INCOME 8,994 7,630 17,959 14,495
Provision (recovery) for credit loss expense - loans 242 (345) 274 (645)
Recovery of credit loss expense - off-balance sheet commitments (102)   (165)  
Total provision (recovery) for credit loss expense 140 (345) 109 (645)
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE 8,854 7,975 17,850 15,140
NONINTEREST INCOME        
Gain on sale of loans, net 56 147 59 265
Earnings on bank owned life insurance 172 168 341 334
Unrealized gain or (loss) on equity securities, net 4 3 13 4
Other income 224 188 423 366
Total noninterest income 1,733 1,782 3,361 3,424
NONINTEREST EXPENSE        
Salaries and employee benefits 3,389 3,412 6,683 6,567
Occupancy expense 284 276 566 548
Equipment expense 189 197 396 411
Professional and director fees 386 330 707 606
Financial institutions and franchise tax expense 192 194 384 389
Marketing and public relations 136 110 259 221
Software expense 421 326 820 659
Debit card expense 169 185 315 349
FDIC insurance expense 178 75 249 158
Other expenses 705 669 1,389 1,334
Total noninterest expense 6,049 5,774 11,768 11,242
Income before income taxes 4,538 3,983 9,443 7,322
FEDERAL INCOME TAX PROVISION 894 774 1,865 1,412
NET INCOME $ 3,644 $ 3,209 $ 7,578 $ 5,910
Basic net earnings per share $ 1.36 $ 1.18 $ 2.82 $ 2.17
Diluted net earnings per share $ 1.36 $ 1.18 $ 2.82 $ 2.17
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income $ 300 $ 289 $ 592 $ 554
Fiduciary and Trust [Member]        
NONINTEREST INCOME        
Noninterest income 252 253 510 517
Debit Card [Member]        
NONINTEREST INCOME        
Noninterest income 533 543 1,054 1,038
Credit Card [Member]        
NONINTEREST INCOME        
Noninterest income $ 192 $ 191 $ 369 $ 346