v3.25.2
Consolidated Statements of Income (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income        
Loans, including fees $ 8,899,000 $ 7,238,000 $ 17,265,000 $ 14,120,000
Investment securities - taxable 1,070,000 1,592,000 2,121,000 3,171,000
Investment securities - tax exempt 153,000 138,000 309,000 274,000
Federal funds sold and other interest earning assets 171,000 212,000 485,000 681,000
Total interest income 10,293,000 9,180,000 20,180,000 18,246,000
Interest expense        
Deposits 4,071,000 3,232,000 8,321,000 6,333,000
Securities sold under repurchase agreements 12,000 13,000 29,000 36,000
Federal Home Loan Bank advances 110,000 32,000 122,000 44,000
Federal Reserve Bank advances 0 641,000 0 1,263,000
Long-term debt 109,000 129,000 222,000 262,000
Total interest expense 4,302,000 4,047,000 8,694,000 7,938,000
Net interest income 5,991,000 5,133,000 11,486,000 10,308,000
Provision for (recovery of) credit losses 238,000 0 268,000 0
Net interest income after provision for (recovery of) credit losses 5,753,000 5,133,000 11,218,000 10,308,000
Noninterest income        
Mortgage banking income 47,000 18,000 76,000 23,000
Bank owned life insurance income 106,000 94,000 211,000 185,000
Fair value adjustment of equity security 1,000 (2,000) 9,000 (6,000)
Gain on settlement of fair value hedge 0 0 94,000 0
Loss on sale of debt securities 0 (31,000) 0 (32,000)
Gain on insurance proceeds, net 0 0 0 143,000
Total noninterest income 456,000 374,000 969,000 878,000
Noninterest expense        
Salaries 2,191,000 1,993,000 4,398,000 3,969,000
Employee benefits 531,000 441,000 913,000 1,048,000
Occupancy 280,000 278,000 608,000 524,000
Furniture and equipment 480,000 328,000 815,000 570,000
Professional services 218,000 158,000 391,000 364,000
Automated teller machine and debit card expenses 168,000 166,000 336,000 301,000
Federal Deposit Insurance Corporation premiums 117,000 94,000 316,000 192,000
Postage, delivery, and armored carrier 64,000 64,000 142,000 145,000
Advertising 74,000 74,000 130,000 123,000
Other real estate owned expense/(income), net 67,000 3,000 71,000 5,000
Other 540,000 524,000 1,108,000 995,000
Total noninterest expense 4,730,000 4,123,000 9,228,000 8,236,000
Income before income taxes 1,479,000 1,384,000 2,959,000 2,950,000
Income taxes 280,000 305,000 596,000 652,000
Net income $ 1,198,659 $ 1,078,509 $ 2,363,186 $ 2,298,496
Earnings per common share - basic (in dollars per share) $ 0.38 $ 0.35 $ 0.74 $ 0.74
Earnings per common share - diluted (in dollars per share) $ 0.38 $ 0.35 $ 0.74 $ 0.74
Deposit Account [Member]        
Noninterest income        
Service charges on deposit accounts $ 178,000 $ 217,000 $ 342,000 $ 412,000
Other fees and commissions 178,000 217,000 342,000 412,000
Financial Service, Other [Member]        
Noninterest income        
Service charges on deposit accounts 124,000 78,000 236,000 153,000
Other fees and commissions $ 124,000 $ 78,000 $ 236,000 $ 153,000