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        
Interest and fees on loans $ 44,128 $ 43,060 $ 87,603 $ 86,385
Interest and dividends on securities 1,478 1,190 2,923 2,320
Interest on cash and cash equivalents 3,043 3,429 6,600 7,255
Total interest and dividend income 48,649 47,679 97,126 95,960
Interest expense        
Interest expense on deposits 23,083 24,677 47,855 50,039
Interest expense on borrowings 1,630 1,783 3,269 3,555
Total interest expense 24,713 26,460 51,124 53,594
Net interest income 23,936 21,219 46,002 42,366
(Credit) provision for credit losses (411) 8,183 52 11,866
Net interest income after (credit) provision for credit losses 24,347 13,036 45,950 30,500
Noninterest income        
Bank-owned life insurance 352 333 696 662
Service charges and fees 674 495 1,276 799
Gains and fees from sales of loans 1,080 45 1,522 366
Other (94) (190) 23 (229)
Total noninterest income 2,012 683 3,517 1,598
Noninterest expense        
Salaries and employee benefits 7,521 6,176 14,573 12,467
Occupancy and equipment 2,505 2,238 5,080 4,561
Professional services 1,632 989 3,161 2,054
Data processing 712 755 1,597 1,495
Director fees 333 306 681 1,206
FDIC insurance 684 705 1,463 1,635
Marketing 218 90 360 203
Other 941 986 1,772 1,921
Total noninterest expense 14,546 12,245 28,687 25,542
Income before income tax expense 11,813 1,474 20,780 6,556
Income tax expense 2,725 356 4,804 1,675
Net income $ 9,088 $ 1,118 $ 15,976 $ 4,881
Earnings Per Common Share:        
Basic (in dollars per share) $ 1.16 $ 0.14 $ 2.04 $ 0.62
Diluted (in dollars per share) $ 1.15 $ 0.14 $ 2.03 $ 0.62
Weighted Average Common Shares Outstanding:        
Basic (in shares) 7,777,469 7,747,675 7,724,143 7,705,598
Diluted (in shares) 7,819,828 7,723,888 7,795,820 7,721,880
Dividends per common share (in dollars per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40