v3.25.2
Consolidated Statements of Income - 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 $ 25,220 $ 23,360 $ 50,027 $ 46,983
Interest on investment securities, taxable 1,071 1,194 2,102 2,463
Interest on investment securities, tax-exempt 9 9 18 18
Dividends 121 84 244 166
Interest on deposits in banks 1,422 2,144 2,756 4,080
Total interest and dividend income 27,843 26,791 55,147 53,710
Interest Expense        
Deposits 12,001 13,450 24,300 27,381
Federal funds purchased 2   2 2
Federal Home Loan Bank advances 565   1,124  
Federal Reserve Bank borrowings   911   1,804
Subordinated debt 349 349 698 698
Total interest expense 12,917 14,710 26,124 29,885
Net Interest Income 14,926 12,081 29,023 23,825
Provision for (recovery of) credit losses 537 (292) 707 (1,068)
Net interest income after provision for (recovery of) credit losses 14,389 12,373 28,316 24,893
Non-interest Income        
Service charges on deposit accounts 86 88 168 176
Other service charges and fees 141 165 294 314
Insurance commissions 33 40 246 292
Gain on sale of government guaranteed loans 61 216 97 349
Non-qualified deferred compensation plan asset gains, net 182 35 206 159
Other income 4 11 1 83
Total non-interest income 507 555 1,012 1,373
Non-interest Expenses        
Salaries and employee benefits 5,178 4,875 10,277 9,685
Occupancy expense of premises 407 448 814 899
Furniture and equipment expenses 315 301 631 598
Other operating expenses 2,413 2,285 4,839 4,651
Total non-interest expenses 8,313 7,909 16,561 15,833
Income before income taxes 6,583 5,019 12,767 10,433
Income Tax Expense 1,480 1,114 2,854 2,324
Net income $ 5,103 $ 3,905 $ 9,913 $ 8,109
Earnings per share, basic (in dollars per share) $ 0.36 $ 0.27 $ 0.69 $ 0.57
Earnings per share, diluted (in dollars per share) $ 0.36 $ 0.27 $ 0.69 $ 0.57