v3.22.4
Consolidated Statement of Income - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 48,513,000 $ 47,896,000
Interest-earning deposits in other institutions 472,000 90,000
Federal funds sold 219,000 3,000
Investment securities:    
Taxable interest 1,811,000 1,679,000
Tax-exempt interest 3,707,000 2,565,000
Dividends on stock 184,000 102,000
Total interest and dividend income 54,906,000 52,335,000
INTEREST EXPENSE    
Deposits 4,018,000 3,913,000
Short-term borrowings 307,000 0
Other borrowings 404,000 282,000
Total interest expense 4,729,000 4,195,000
NET INTEREST INCOME 50,177,000 48,140,000
Provision for loan losses 0 700,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 50,177,000 47,440,000
NONINTEREST INCOME    
(Losses) gains on equity securities [1] (173,000) 209,000
Gain on other real estate owned 0 43,000
Earnings on bank-owned life insurance [1] 459,000 546,000
Gain on sale of loans [1] 24,000 1,240,000
Revenue from investment services [2] 674,000 727,000
Gross rental income 951,000 180,000
Total noninterest income 6,746,000 7,249,000
NONINTEREST EXPENSE    
Salaries and employee benefits 17,548,000 17,151,000
Occupancy expense 2,033,000 2,048,000
Equipment expense 1,074,000 1,361,000
Data processing costs 3,701,000 3,298,000
Ohio state franchise tax 1,157,000 1,144,000
Federal deposit insurance expense 329,000 494,000
Professional fees 1,500,000 1,313,000
Other real estate owned writedowns 1,200,000 0
Advertising expense 1,033,000 885,000
Software amortization expense 143,000 361,000
Core deposit intangible amortization 372,000 321,000
Gross other real estate owned expenses 707,000 54,000
Merger-related costs 2,382,000 0
Other expense 4,851,000 3,561,000
Total noninterest expense 38,030,000 31,991,000
Income before income taxes 18,893,000 22,698,000
Income taxes 3,220,000 4,065,000
NET INCOME $ 15,673,000 $ 18,633,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 2.60 $ 3.01
Diluted (in dollars per share) $ 2.59 $ 3.00
Deposit Account [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 3,850,000 $ 3,425,000
Financial Service, Other [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 961,000 $ 879,000
[1] Not within scope of ASC 606
[2] From services offered by the Company through it's servicing partnership with LPL Financial