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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 10,531 $ 9,175 $ 30,959 $ 25,855
Taxable securities 1,782 1,910 5,489 5,867
Nontaxable securities 88 102 264 305
Other 789 531 1,537 1,520
Total interest and dividend income 13,190 11,718 38,249 33,547
INTEREST EXPENSE        
Deposits 3,898 2,772 10,687 6,484
Short-term borrowings 71 100 252 236
Other borrowings 7 9 23 31
Total interest expense 3,976 2,881 10,962 6,751
NET INTEREST INCOME 9,214 8,837 27,287 26,796
Provision for credit loss expense - loans 645 13 4,945 287
Provision (recovery) for credit loss expense - off-balance sheet commitments 55 164 (204) (1)
Total provision for credit loss expense 700 177 4,741 286
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE 8,514 8,660 22,546 26,510
NONINTEREST INCOME        
Gain on sale of loans, net 106 47 215 106
Earnings on bank owned life insurance 203 179 585 520
Unrealized gain (loss) on equity securities 17 (11) (12) 2
Other income 211 208 657 631
Total noninterest income 1,809 1,705 5,322 5,066
NONINTEREST EXPENSES        
Salaries and employee benefits 3,656 3,429 10,181 10,112
Occupancy expense 295 290 872 856
Equipment expense 224 199 649 595
Professional and director fees 391 366 1,160 1,073
Financial institutions tax 216 192 648 576
Marketing and public relations 162 124 432 383
Software expense 421 408 1,263 1,228
Debit card expense 186 179 568 494
FDIC insurance expense 132 131 396 380
Other expenses 739 716 2,209 2,105
Total noninterest expenses 6,422 6,034 18,378 17,802
Income before income taxes 3,901 4,331 9,490 13,774
FEDERAL INCOME TAX PROVISION 756 850 1,797 2,715
NET INCOME $ 3,145 $ 3,481 $ 7,693 $ 11,059
Basic net earnings per share $ 1.18 $ 1.3 $ 2.89 $ 4.12
Diluted net earnings per share $ 1.18 $ 1.3 $ 2.89 $ 4.12
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income $ 301 $ 332 $ 872 $ 924
Fiduciary and Trust [Member]        
NONINTEREST INCOME        
Noninterest income 274 259 951 769
Debit Card [Member]        
NONINTEREST INCOME        
Noninterest income 535 525 1,570 1,579
Credit Card [Member]        
NONINTEREST INCOME        
Noninterest income $ 162 $ 166 $ 484 $ 535