v3.25.2
CONSOLIDATED STATEMENTS OF INCOME (LOSS) (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, including fees $ 29,435 $ 27,514 $ 57,534 $ 54,712
Taxable securities 2,530 3,251 5,553 6,808
Tax exempt securities 214 254 465 512
Interest-earning deposits 855 367 1,180 573
Total interest and dividend income 33,034 31,386 64,732 62,605
Interest expense:        
Deposits 11,076 12,711 22,232 24,856
Borrowed funds 1,150 914 1,875 1,899
Total interest expense 12,226 13,625 24,107 26,755
Net interest income 20,808 17,761 40,625 35,850
Provision (credit) for credit losses 1,145 879 2,237 (1,161)
Net interest income after provision for credit losses 19,663 16,882 38,388 37,011
Non-interest income:        
Net (losses) on security transactions (17,498) 0 (17,498) 0
Changes in fair value of equity investments 108 14 61 115
Net gains on sales of loans held for sale 51 39 91 71
Net gains (losses) on sales of other real estate owned 3 (3) (8) (3)
Income from bank-owned life insurance 8 10 16 19
Other 1,406 573 2,281 1,373
Total non-interest income (10,705) 5,598 (4,816) 11,255
Non-interest expense:        
Salaries and wages 7,579 6,823 14,788 13,839
Pension and other employee benefits 2,112 2,078 4,034 4,160
Other components of net periodic pension and postretirement benefits (113) (232) (226) (464)
Net occupancy 1,431 1,445 2,964 2,938
Furniture and equipment 455 397 828 795
Data processing 2,563 2,297 5,097 4,870
Professional services 805 558 1,443 1,117
Marketing and advertising 351 388 690 733
Other real estate owned 3 12 14 61
FDIC insurance 434 516 873 1,093
Loan expense 296 200 574 455
Other 1,853 1,737 3,617 3,320
Total non-interest expense 17,769 16,219 34,696 32,917
Income (loss) before income tax expense (8,811) 6,261 (1,124) 15,349
Income tax expense (benefit) (2,359) 1,274 (695) 3,312
Net income (loss) $ (6,452) $ 4,987 $ (429) $ 12,037
Weighted average shares outstanding, basic (in shares) 4,808,078 4,769,647 4,798,462 4,766,629
Weighted average shares outstanding, diluted (in shares) 4,808,078 4,769,647 4,798,462 4,766,629
Basic earnings (loss) per share (in dollars per share) $ (1.35) $ 1.05 $ (0.09) $ 2.53
Diluted earnings (loss) per share (in dollars per share) $ (1.35) $ 1.05 $ (0.09) $ 2.53
WMG fee income        
Non-interest income:        
Revenues from contracts with customer $ 2,993 $ 2,860 $ 5,860 $ 5,563
Service charges on deposit accounts        
Non-interest income:        
Revenues from contracts with customer 1,114 964 2,234 1,913
Interchange revenue from debit card transactions        
Non-interest income:        
Revenues from contracts with customer $ 1,110 $ 1,141 $ 2,147 $ 2,204