v3.25.4
CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest and dividend income:      
Residential and commercial real estate loans $ 91,249 $ 85,426 $ 77,964
Commercial and industrial loans 13,850 13,147 12,865
Consumer loans 280 325 340
Total interest income from loans 105,379 98,898 91,169
Investment securities, taxable 10,195 8,633 8,241
Investment securities, tax-exempt 3 7
Marketable equity securities 20 13 122
Total interest and dividend income from investment securities 10,215 8,649 8,370
Other investments 690 687 558
Short-term investments 2,335 1,598 1,021
Total interest income from cash and cash equivalents 3,025 2,285 1,579
Total interest and dividend income 118,619 109,832 101,118
Interest expense:      
Deposits 42,512 42,236 26,649
Short-term borrowings 225 600 1,589
Long-term debt 4,769 6,164 3,957
Subordinated debt 1,016 1,015 1,014
Total interest expense 48,522 50,015 33,209
Net interest and dividend income 70,097 59,817 67,909
Provision for (reversal of) credit losses 335 (665) 872
Net interest and dividend income after provision for (reversal of) credit losses 69,762 60,482 67,037
Non-interest income:      
Service charges and fees 9,917 9,202 8,856
Income from bank-owned life insurance 1,963 1,911 1,820
Bank-owned life insurance death benefit 778
Loss on disposal of premises and equipment (6) (3)
Gain on sale of mortgages 11 235
Net unrealized gain (loss) on marketable equity securities 35 13 (1)
Gain on non-marketable equity investments 243 1,287 590
Loss on defined benefit plan termination (1,143)
Other income 347 261
Total non-interest income 12,516 12,903 10,897
Non-interest expense:      
Salaries and employee benefits 35,826 32,786 32,380
Occupancy 5,226 5,237 5,046
Furniture and equipment 1,868 1,955 1,954
Data processing 3,630 3,477 3,157
Software 2,643 2,519 2,311
Debit card and ATM processing expense 2,483 2,437 2,139
Professional fees 2,017 2,161 2,732
FDIC insurance assessment 1,604 1,460 1,321
Advertising 1,654 1,269 1,495
Other expenses 5,537 5,127 5,815
Total non-interest expense 62,488 58,428 58,350
Income before income taxes 19,790 14,957 19,584
Income tax provision 4,521 3,291 4,516
Net income $ 15,269 $ 11,666 $ 15,068
Earnings per common share:      
Basic earnings per share $ 0.76 $ 0.56 $ 0.70
Weighted average basic shares outstanding 20,194,877 20,899,573 21,535,888
Diluted earnings per share $ 0.75 $ 0.56 $ 0.70
Weighted average diluted shares outstanding 20,321,755 21,016,358 21,610,329
Dividends per share $ 0.28 $ 0.28 $ 0.28