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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 $ 13,293 $ 10,020 $ 25,569 $ 19,818
Securities        
Taxable 934 851 1,892 1,546
Tax exempt 41 45 83 92
Dividends 75 69 165 127
Interest-bearing deposits with banks 671 232 1,097 286
Other interest 3 4 5 9
Total interest and dividend income 15,017 11,221 28,811 21,878
Interest expense:        
Deposits 3,091 507 4,923 1,026
Other borrowed funds 169 103 271 209
Subordinated debentures 143 58 281 100
Total interest expense 3,403 668 5,475 1,335
Net interest income 11,614 10,553 23,336 20,543
Provision for (recovery of) credit losses 24 813 513 (313)
Net interest income after provision for (recovery of) credit losses 11,590 9,740 22,823 20,856
Noninterest income:        
Service charges on deposit accounts 653 595 1,264 1,153
Trust fees 82 86 168 167
Income from bank owned life insurance and annuity assets 211 195 418 469
Mortgage banking income 44 220 91 455
Electronic refund check / deposit fees 135 135 675 675
Debit / credit card interchange income 1,215 1,177 2,388 2,312
Tax preparation fees 33 50 664 738
Other 340 178 812 387
Total noninterest income 2,713 2,636 6,480 6,356
Noninterest expense:        
Salaries and employee benefits 5,841 5,683 11,725 11,253
Occupancy 485 424 947 902
Furniture and equipment 330 279 628 545
Professional fees 433 498 866 987
Marketing expense 241 229 482 458
FDIC insurance 142 88 280 170
Data processing 726 688 1,446 1,360
Software 588 556 1,150 1,059
Foreclosed assets 7 36 9 37
Amortization of intangibles 6 10 13 20
Other 1,616 1,532 3,141 3,020
Total noninterest expense 10,415 10,023 20,687 19,811
Income before income taxes 3,888 2,353 8,616 7,401
Provision for income taxes 639 354 1,459 1,277
NET INCOME $ 3,249 $ 1,999 $ 7,157 $ 6,124
Earnings per share (in dollars per share) $ 0.68 $ 0.42 $ 1.5 $ 1.29