v3.25.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
INTEREST INCOME    
Loans $ 29,984 $ 29,737
Taxable securities 1,186 1,457
Other interest income 1,667 1,238
Total interest income 32,837 32,432
INTEREST EXPENSE    
Savings, NOW and money market deposits 11,455 12,933
Time deposits 5,320 4,962
Borrowings 1,433 1,602
Total interest expense 18,208 19,497
Net interest income 14,629 12,935
Provision for credit losses 600 300
Net interest income after provision for credit losses 14,029 12,635
NON-INTEREST INCOME    
Total non-interest income 3,732 3,576
NON-INTEREST EXPENSE    
Salaries and employee benefits 7,232 5,562
Conversion expenses 3,180  
Occupancy and equipment 1,836 1,770
Data processing 593 518
Professional fees 787 818
Federal deposit insurance premiums 337 318
Other expenses 2,031 1,818
Total non-interest expense 15,996 10,804
Income before income tax expense 1,765 5,407
Income tax expense 244 1,346
NET INCOME $ 1,521 $ 4,061
Earnings per share:    
BASIC (in dollars per share) $ 0.2 $ 0.55
DILUTED (in dollars per share) $ 0.2 $ 0.55
Loan servicing and fee income    
NON-INTEREST INCOME    
Revenue from contracts with customers, not included within the scope of ASC 606 $ 1,081 $ 913
Service charges on deposit accounts    
NON-INTEREST INCOME    
Revenue from contracts with customers, not included within the scope of ASC 606 117 96
Gain on sale of loans held-for-sale    
NON-INTEREST INCOME    
Revenue from contracts with customers, not included within the scope of ASC 606 2,352 2,506
Other income    
NON-INTEREST INCOME    
Revenue from contracts with customers, not included within the scope of ASC 606 $ 182 $ 61