Consolidated Statements of Income - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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Interest Income | ||||
Loans, including fees | $ 8,469,000 | $ 7,693,000 | $ 16,222,000 | $ 15,279,000 |
Investment securities, taxable | 151,000 | 198,000 | 315,000 | 405,000 |
Investment securities, tax-exempt | 217,000 | 216,000 | 433,000 | 433,000 |
Interest-earning deposits | 270,000 | 647,000 | 504,000 | 1,246,000 |
Total Interest Income | 9,107,000 | 8,754,000 | 17,474,000 | 17,363,000 |
Interest Expense | ||||
Deposits | 2,948,000 | 3,371,000 | 5,790,000 | 6,615,000 |
Long-term debt | 28,000 | 166,000 | 78,000 | 386,000 |
Finance lease | 9,000 | 11,000 | 19,000 | 23,000 |
Total Interest Expense | 2,985,000 | 3,548,000 | 5,887,000 | 7,024,000 |
Net Interest Income | 6,122,000 | 5,206,000 | 11,587,000 | 10,339,000 |
(Credit) Provision for Credit Losses | 0 | (285,000) | 48,000 | (637,000) |
Net Interest Income After (Credit) Provision for Credit Losses | 6,122,000 | 5,491,000 | 11,539,000 | 10,976,000 |
Non-Interest Income | ||||
Service charges and fees | 273,000 | 287,000 | 510,000 | 552,000 |
Debit card fees | 201,000 | 210,000 | 388,000 | 405,000 |
Earnings on bank-owned life insurance | 221,000 | 220,000 | 438,000 | 435,000 |
Unrealized gain on equity securities | 65,000 | 111,000 | 11,000 | |
Recovery on previously impaired investment securities | 1,000 | 3,000 | 2,000 | 3,000 |
Earnings on annuity assets | 23,000 | 46,000 | ||
Other | 16,000 | 18,000 | 29,000 | 39,000 |
Total Non-Interest Income | 800,000 | 738,000 | 1,524,000 | 1,445,000 |
Non-Interest Expense | ||||
Salaries and employee benefits | 2,854,000 | 2,656,000 | 5,768,000 | 5,413,000 |
Occupancy and equipment | 615,000 | 681,000 | 1,291,000 | 1,384,000 |
Data processing | 457,000 | 446,000 | 916,000 | 899,000 |
Professional services | 251,000 | 397,000 | 565,000 | 724,000 |
Telephone and communications | 79,000 | 104,000 | 171,000 | 206,000 |
FDIC insurance | 74,000 | 284,000 | 146,000 | 563,000 |
Postage and supplies | 57,000 | 65,000 | 137,000 | 140,000 |
Advertising | 15,000 | 16,000 | 26,000 | 67,000 |
Other | 223,000 | 248,000 | 483,000 | 496,000 |
Total Non-Interest Expense | 4,625,000 | 4,897,000 | 9,503,000 | 9,892,000 |
Income before Income Taxes | 2,297,000 | 1,332,000 | 3,560,000 | 2,529,000 |
Income Tax Expense | 378,000 | 216,000 | 585,000 | 399,000 |
Net Income | $ 1,919,000 | $ 1,116,000 | $ 2,975,000 | $ 2,130,000 |
Earnings Per Common Share: Basic | $ 0.34 | $ 0.19 | $ 0.53 | $ 0.36 |
Earnings Per Common Share: Diluted | 0.34 | 0.19 | 0.53 | 0.36 |
Dividends declared per share | $ 0 | $ 0.18 | $ 0.18 | $ 0.18 |
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- Definition Debit card fees. No definition available.
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- Definition Earnings on annuity assets. No definition available.
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- Definition Interest expenses finance lease. No definition available.
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- Definition Provision for credit losses. No definition available.
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- Definition Recovery on previously impaired investment securities No definition available.
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- Definition Service charges and fees. No definition available.
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- Definition Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense incurred in the period for communication, which is the exchange of information by several methods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of unrealized gain (loss) on investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate interest expense incurred on all domestic deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest expense incurred during the reporting period on long-term borrowings associated with Federal Home Loan Bank and Federal Reserve Bank advances. No definition available.
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Interest income derived from funds deposited with both domestic and foreign financial institutions including funds in money market and other accounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities exempt from state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities subject to state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate amount of expenses directly related to the supplies and postage. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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