v3.25.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME:        
Loans $ 36,740,000 $ 38,634,000 $ 73,622,000 $ 75,337,000
Interest-earning deposits 1,027,000 1,385,000 2,108,000 2,585,000
Securities 272,000 218,000 516,000 436,000
Total Interest Income 38,039,000 40,237,000 76,246,000 78,358,000
INTEREST EXPENSE:        
Deposits 12,053,000 13,435,000 25,986,000 25,829,000
Borrowings 902,000 570,000 902,000 1,302,000
Financing lease 10,000 10,000 20,000 19,000
Total Interest Expense 12,965,000 14,015,000 26,908,000 27,150,000
Net Interest Income 25,074,000 26,222,000 49,338,000 51,208,000
Provision for (reversal of) credit loss   (226,000) 237,000 (391,000)
Net Interest Income after Provision for (Reversal of) Credit Loss 25,074,000 26,448,000 49,101,000 51,599,000
NON-INTEREST INCOME:        
Other loan fees and service charges 611,000 563,000 1,351,000 1,025,000
Earnings on bank owned life insurance 170,000 162,000 336,000 319,000
Unrealized gain (loss) on equity securities 51,000 (20,000) 351,000 (102,000)
Other 26,000 26,000 55,000 43,000
Total Non-Interest Income 858,000 731,000 2,093,000 1,285,000
NON-INTEREST EXPENSES:        
Salaries and employee benefits 5,650,000 5,252,000 11,583,000 10,603,000
Occupancy expense 743,000 674,000 1,489,000 1,381,000
Equipment 253,000 221,000 470,000 474,000
Outside data processing 758,000 607,000 1,494,000 1,243,000
Advertising 123,000 94,000 225,000 182,000
Real estate owned expense 247,000 27,000 277,000 39,000
Other 2,734,000 2,623,000 5,589,000 5,257,000
Total Non-Interest Expenses 10,508,000 9,498,000 21,127,000 19,179,000
INCOME BEFORE PROVISION FOR INCOME TAXES 15,424,000 17,681,000 30,067,000 33,705,000
PROVISION FOR INCOME TAXES 4,254,000 4,883,000 8,330,000 9,533,000
NET INCOME $ 11,170,000 $ 12,798,000 $ 21,737,000 $ 24,172,000
EARNINGS PER COMMON SHARE - BASIC (in $ per share) $ 0.85 $ 0.98 $ 1.65 $ 1.84
EARNINGS PER COMMON SHARE - DILUTED (in $ per share) $ 0.82 $ 0.97 $ 1.6 $ 1.83
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC (in shares) 13,216 13,084 13,204 13,119
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED (in shares) 13,568 13,181 13,563 13,205