v3.25.2
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 and dividend income        
Loans $ 42,726 $ 40,634 $ 84,530 $ 80,104
Securities and other 5,474 5,620 10,757 11,150
Federal Home Loan Bank stock 212 199 349 487
Interest-earning deposits with other banks 276 385 590 920
Total interest and dividend income 48,688 46,838 96,226 92,661
Interest expense        
Deposits 15,511 14,780 31,023 29,312
Borrowings 3,282 4,299 6,301 7,535
Total interest expense 18,793 19,079 37,324 36,847
Net interest income 29,895 27,759 58,902 55,814
Provision for credit losses on available-for-sale debt securities     636  
Provision for credit losses on loans 528 585 471 874
Net interest income after provision for credit losses 29,367 27,174 57,795 54,940
Non-interest income        
Trust and investment management fee income 4,263 4,193 8,179 7,863
Customer service fees 3,589 3,737 7,114 7,447
(Loss) gain on available-for-sale debt securities, net (4,942) 50 (4,942) 50
Mortgage banking income 605 558 1,061 815
Bank-owned life insurance income 602 583 1,216 1,144
Customer derivative income 104 168 316 168
Other income 425 168 620 356
Total non-interest income 4,646 9,457 13,564 17,843
Non-interest expense        
Salaries and employee benefits 14,274 13,860 28,007 27,108
Occupancy and equipment 3,546 3,317 6,871 6,749
Depreciation 1,023 1,065 2,072 2,106
Loss (gain) on sales of premises and equipment, net 3 (248) 93 (263)
Outside services 457 462 939 800
Professional services 514 238 1,106 638
Communication 194 192 360 381
Marketing 682 521 1,200 1,088
Amortization of intangible assets 233 233 466 466
FDIC assessment 464 448 920 900
Acquisition, conversion and other expenses 1,205   1,444 20
Provision for unfunded commitments     (74) (185)
Other expenses 3,943 3,754 7,785 7,522
Total non-interest expense 26,538 23,842 51,189 47,330
Income before income taxes 7,475 12,789 20,170 25,453
Income tax expense 1,383 2,532 3,867 5,101
Net income $ 6,092 $ 10,257 $ 16,303 $ 20,352
Earnings per share:        
Basic (in dollars per share) $ 0.4 $ 0.67 $ 1.06 $ 1.34
Diluted (in dollars per share) $ 0.4 $ 0.67 $ 1.06 $ 1.33
Weighted average common shares outstanding:        
Basic (in shares) 15,320,665 15,227,457 15,312,202 15,212,897
Diluted (in shares) 15,372,201 15,275,421 15,382,066 15,272,679