v3.25.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest Income        
Loans, including fees $ 39,530 $ 36,593 $ 76,602 $ 71,793
Debt securities:        
U.S. Treasury and government agencies 2,231 1,148 4,328 2,193
Municipalities 369 389 751 783
Dividends 311 327 649 660
Federal funds sold   7   14
Other 1,051 2,702 2,164 4,377
Total interest income 43,492 41,166 84,494 79,820
Interest Expense        
Deposits 14,813 16,488 28,801 31,767
Federal funds purchased and securities sold under agreements to repurchase 272 276 543 560
Borrowed funds 2,411 2,742 4,961 5,431
Subordinated notes 285 285 569 569
Total interest expense 17,781 19,791 34,874 38,327
Net Interest Income - Before Provision for Credit Losses 25,711 21,375 49,620 41,493
Provision for Credit Losses - Loans 661 605 1,472 316
Provision for (Recovery of) Credit Losses - Off Balance Sheet Credit Exposures 27 (18) (233) (284)
Net Interest Income - After Provision for Credit Losses 25,023 20,788 48,381 41,461
Noninterest Income        
Interchange income 1,259 1,330 2,680 2,759
Loan servicing income 629 513 1,391 1,052
Net gain on sale of loans 257 314 541 421
Increase in cash surrender value of bank owned life insurance 239 236 483 452
Gain (Loss) on sale of other assets owned 15 49 (39) 49
Total noninterest income 3,935 3,716 8,097 7,662
Noninterest Expense        
Salaries and wages 7,567 7,589 15,445 15,435
Employee benefits 2,265 2,112 4,669 4,283
Net occupancy expense 1,075 999 2,274 2,026
Furniture and equipment 1,414 1,407 2,692 2,760
Data processing 1,057 448 1,614 948
Franchise taxes 397 265 794 820
ATM expense 761 397 1,252 870
Advertising 356 519 859 1,049
FDIC assessment 448 507 913 1,087
Servicing rights amortization - net 234 187 361 355
Loan expense 328 251 556 480
Consulting fees 494 198 1,239 384
Professional Fees 502 527 1,061 972
Intangible asset amortization 444 444 889 889
Other general and administrative 1,918 1,495 3,402 2,828
Total noninterest expense 19,260 17,345 38,020 35,186
Income Before Income Taxes 9,698 7,159 18,458 13,937
Income Taxes 1,988 1,477 3,796 2,896
Net Income $ 7,710 $ 5,682 $ 14,662 $ 11,041
Basic Earnings Per Share $ 0.56 $ 0.42 $ 1.07 $ 0.81
Diluted Earnings Per Share 0.56 0.42 1.07 0.81
Dividends Declared $ 0.22125 $ 0.22 $ 0.4425 $ 0.44
Customer Service Fees [Member]        
Noninterest Income        
Noninterest income $ 330 $ 189 $ 711 $ 787
Other Service Charges and Fees [Member]        
Noninterest Income        
Noninterest income $ 1,206 $ 1,085 $ 2,330 $ 2,142