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 AND DIVIDEND INCOME:        
Interest and fees on loans $ 24,442 $ 22,782 $ 47,762 $ 44,724
Securities available-for-sale 2,397 2,631 4,848 5,355
FHLB and FRB dividends 236 264 496 511
Other interest income 75 145 113 174
Total interest and dividend income 27,150 25,822 53,219 50,764
INTEREST EXPENSE:        
Deposits 6,877 6,884 13,748 13,432
FHLB advances and other borrowings 1,459 2,625 3,085 5,122
Other long-term debt 669 681 1,339 1,364
Total interest expense 9,005 10,190 18,172 19,918
NET INTEREST INCOME 18,145 15,632 35,047 30,846
Provision for credit losses 1,038 412 1,080 277
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 17,107 15,220 33,967 30,569
NONINTEREST INCOME:        
Appreciation in cash surrender value of life insurance 393 320 743 608
Other noninterest income 425 464 984 988
Total noninterest income 4,807 4,269 8,823 8,221
NONINTEREST EXPENSE:        
Salaries and employee benefits 10,645 10,273 20,309 19,991
Occupancy and equipment expense 2,230 2,104 4,532 4,203
Data processing 1,305 1,382 2,635 2,907
Software subscriptions 715 511 1,373 1,039
Advertising 280 316 512 569
Amortization 298 348 618 717
Loan costs 354 412 726 810
Federal Deposit Insurance Corporation ("FDIC") insurance premiums 257 284 488 583
Professional and examination fees 391 423 911 907
Other noninterest expense 1,451 1,254 2,828 2,614
Total noninterest expense 17,926 17,307 34,932 34,340
INCOME BEFORE PROVISION FOR INCOME TAXES 3,988 2,182 7,858 4,450
Provision for income taxes 751 444 1,382 814
NET INCOME $ 3,237 $ 1,738 $ 6,476 $ 3,636
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.42 $ 0.22 $ 0.83 $ 0.46
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.41 $ 0.22 $ 0.83 $ 0.46
Deposit Account [Member]        
NONINTEREST INCOME:        
Noninterest income revenue $ 393 $ 428 $ 782 $ 828
Bank Servicing [Member]        
NONINTEREST INCOME:        
Noninterest income revenue 2,926 2,417 5,051 4,594
Debit Card [Member]        
NONINTEREST INCOME:        
Noninterest income revenue $ 670 $ 640 $ 1,263 $ 1,203