v3.25.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Loans        
Taxable $ 16,059 $ 13,883 $ 31,303 $ 27,430
Tax exempt 116 124 231 247
Securities        
Taxable 1,133 1,226 2,302 2,500
Tax exempt 35 37 73 74
Other interest income 1,124 384 1,930 703
Total interest income 18,467 15,654 35,839 30,954
Interest Expense        
Deposits 5,597 5,208 10,949 10,298
Repurchase agreements & other 21 36 45 70
Federal Home Loan Bank advance expense 366 370 728 983
Trust preferred securities expense 161 187 321 375
Subordinated debt expense 194 194 389 389
Total interest expense 6,339 5,995 12,432 12,115
Net Interest Income 12,128 9,659 23,407 18,839
Provision for credit losses - loans 300 (47) 674 (133)
Provision for unfunded commitments 297 47 310 133
Total provision for credit losses 597 984
Net interest income after provision for credit losses 11,531 9,659 22,423 18,839
Noninterest Income        
Wealth management fees 859 848 1,723 1,713
Customer service fees 886 875 1,765 1,755
Gain on sale of mortgage loans & OMSR 1,566 1,277 2,415 2,058
Mortgage loan servicing fees, net 594 565 1,205 1,328
Gain on sale of non-mortgage loans 82 105 97 115
Title insurance income 582 406 979 672
Other income 479 310 971 696
Total noninterest income 5,048 4,386 9,155 8,337
Noninterest Expense        
Salaries and employee benefits 6,595 6,009 12,832 11,361
Net occupancy expense 793 707 1,686 1,476
Equipment expense 1,121 1,060 2,193 2,137
Data processing fees 888 727 2,327 1,496
Professional fees 892 615 1,926 1,373
Marketing expense 190 176 355 373
Telephone and communications 125 156 264 261
Postage and delivery expense 107 89 244 186
State, local and other taxes 268 230 492 475
Employee expense 176 159 350 337
Other expense 697 743 1,593 1,478
Total noninterest expense 11,852 10,671 24,262 20,953
Income before income tax 4,727 3,374 7,316 6,223
Provision for income taxes 875 261 1,306 742
Net Income $ 3,852 $ 3,113 $ 6,010 $ 5,481
Basic earnings per common share (in Dollars per share) $ 0.6 $ 0.47 $ 0.93 $ 0.82
Diluted earnings per common share (in Dollars per share) $ 0.6 $ 0.47 $ 0.93 $ 0.82
Average common shares outstanding (in thousands):        
Basic: (in Shares) 6,448 6,692 6,464 6,703
Diluted: (in Shares) 6,459 6,700 6,483 6,715