| Consolidated Quarterly Results of Operations (unaudited) |
Consolidated Quarterly Results of Operations (unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in thousands, except per share data) | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Year Ended December 31, 2025 | | | | | | | | | | Total interest income | | $ | 47,201 | | | $ | 48,629 | | | $ | 49,222 | | | $ | 48,720 | | | Total interest expense | | 15,452 | | | 15,278 | | | 15,116 | | | 14,672 | | | Net interest income | | 31,749 | | | 33,351 | | | 34,106 | | | 34,048 | | Provision (reversal) for loan losses | | 394 | | | 489 | | | (229) | | | 480 | | | Net interest income after provision for loan losses | | 31,355 | | | 32,862 | | | 34,335 | | | 33,568 | | | Noninterest income | | 4,009 | | | 3,716 | | | 3,738 | | | 3,998 | | | Noninterest expense | | 21,579 | | | 22,407 | | | 22,531 | | | 23,046 | | | Income before income taxes | | 13,785 | | | 14,171 | | | 15,542 | | | 14,520 | | | Income tax expense | | 2,821 | | | 2,841 | | | 3,185 | | | 3,109 | | | Net income | | $ | 10,964 | | | $ | 11,330 | | | $ | 12,357 | | | $ | 11,411 | | | Earnings per share – basic | | $ | 1.38 | | | $ | 1.47 | | | $ | 1.60 | | | $ | 1.48 | | | Earnings per share – diluted | | $ | 1.37 | | | $ | 1.45 | | | $ | 1.59 | | | $ | 1.46 | | | | | | | | | | | | Year Ended December 31, 2024 | | | | | | | | | | Total interest income | | $ | 44,126 | | | $ | 45,458 | | | $ | 47,379 | | | $ | 47,804 | | | Total interest expense | | 15,225 | | | 16,065 | | | 16,997 | | | 16,218 | | | Net interest income | | 28,901 | | | 29,393 | | | 30,382 | | | 31,586 | | | Provision for loan losses | | 141 | | | 1,261 | | | 140 | | | 873 | | | Net interest income after provision for loan losses | | 28,760 | | | 28,132 | | | 30,242 | | | 30,713 | | | Noninterest income | | 3,549 | | | 3,755 | | | 3,692 | | | 3,629 | | | Noninterest expense | | 20,868 | | | 21,808 | | | 22,258 | | | 22,355 | | | Income before income taxes | | 11,441 | | | 10,079 | | | 11,676 | | | 11,987 | | | Income tax expense | | 2,242 | | | 1,961 | | | 2,239 | | | 2,314 | | | Net income | | $ | 9,199 | | | $ | 8,118 | | | $ | 9,437 | | | $ | 9,673 | | | Earnings per share – basic | | $ | 1.15 | | | $ | 1.02 | | | $ | 1.19 | | | $ | 1.22 | | | Earnings per share – diluted | | $ | 1.14 | | | $ | 1.02 | | | $ | 1.18 | | | $ | 1.21 | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | | | | | | | | | | Total interest income | | $ | 38,115 | | | $ | 40,071 | | | $ | 42,078 | | | $ | 43,399 | | | Total interest expense | | 6,520 | | | 9,765 | | | 12,569 | | | 14,117 | | | Net interest income | | 31,595 | | | 30,306 | | | 29,509 | | | 29,282 | | | Provision for loan losses | | 814 | | | 511 | | | 351 | | | 665 | | | Net interest income after provision for loan losses | | 30,781 | | | 29,795 | | | 29,158 | | | 28,617 | | | Noninterest income | | 3,311 | | | 3,448 | | | 4,399 | | | 3,478 | | | Noninterest expense | | 19,940 | | | 20,959 | | | 21,338 | | | 20,604 | | | Income before income taxes | | 14,152 | | | 12,284 | | | 12,219 | | | 11,491 | | | Income tax expense | | 2,832 | | | 2,503 | | | 2,465 | | | 2,106 | | | Net income | | $ | 11,320 | | | $ | 9,781 | | | $ | 9,754 | | | $ | 9,385 | | | Earnings per share – basic | | $ | 1.40 | | | $ | 1.22 | | | $ | 1.22 | | | $ | 1.18 | | | Earnings per share – diluted | | $ | 1.39 | | | $ | 1.21 | | | $ | 1.22 | | | $ | 1.17 | |
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