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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and Dividend Income    
Interest and fees on loans $ 19,963 $ 17,167
Interest and dividends on securities available for sale:    
Taxable interest income 758 804
Interest income exempt from federal income taxes 5 4
Dividends 156 83
Interest on deposits in banks 991 490
Interest on federal funds sold 39 10
Total interest and dividend income 21,912 18,558
Interest Expense    
Interest on deposits 7,424 3,459
Interest on federal funds purchased 0 70
Interest on Federal Home Loan Bank advances 1,710 2,031
Interest on subordinated debt 354 354
Total interest expense 9,488 5,914
Net Interest Income 12,424 12,644
Provision for credit losses 475 664
Net interest income after provision for credit losses 11,949 11,980
Noninterest Income    
Wealth management fees 1,456 1,158
Service charges on deposit accounts 454 436
Other service charges and fees 969 1,047
Gain on sale of loans 161 456
Bank owned life insurance income 268 179
Other operating income 163 250
Total noninterest income 3,471 3,526
Noninterest Expenses    
Salaries and employee benefits 7,185 7,298
Occupancy expenses 569 518
Equipment expenses 373 323
Advertising and marketing expenses 237 296
Stationery and supplies 24 22
ATM network fees 380 351
Other real estate owned expense 0 5
(Gain) on other real estate owned 0 (7)
FDIC assessment 409 266
Computer software expense 233 310
Bank franchise tax 331 263
Professional fees 506 713
Data processing fees 565 402
Other operating expenses 1,565 1,626
Total noninterest expenses 12,377 12,386
Income before income taxes 3,043 3,120
Income tax expense 495 535
Net income $ 2,548 $ 2,585
Earnings Per Share    
Net income per common share, basic $ 0.72 $ 0.73
Net income per common share, diluted $ 0.72 $ 0.73