v3.26.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Loans, including fees:        
Taxable $ 37,883 $ 36,555 $ 74,185 $ 68,231
Tax-exempt 349 317 687 609
Investment Securities:        
Taxable 4,343 3,283 8,584 6,185
Tax-exempt 320 283 634 571
Dividends 266 307 600 647
Other 524 831 1,227 1,623
Total Interest and Dividend Income 43,685 41,576 85,917 77,866
INTEREST EXPENSE        
Deposits 6,614 7,284 13,001 13,280
Short-term borrowings 552 341 1,115 635
Long-term borrowings 2,517 2,939 5,284 5,849
Total Interest Expense 9,683 10,564 19,400 19,764
Net Interest Income 34,002 31,012 66,517 58,102
Provision for (reversal of) credit losses 554 (228) 478 5,740
Reversal of provision for unfunded commitments (107) (354) (120) (834)
Net Interest Income after Provision for (Reversal of) Credit Losses and Unfunded Commitments 33,555 31,594 66,159 53,196
NONINTEREST INCOME        
Insurance commissions 2,991 2,908 5,119 5,055
Earnings on investment in bank-owned life insurance 756 627 1,493 1,207
Gain on assets held for sale 0 0 177 0
Gain on life insurance proceeds 0 31 174 285
Other 245 342 734 691
Net gains on sales or calls of investment securities 0 22 49 22
Net (losses) gains on equity securities (4) 3 (11) 17
Total Noninterest Income 8,818 8,682 17,092 15,866
NONINTEREST EXPENSES        
Salaries and employee benefits 13,761 13,693 27,788 26,554
Equipment 2,552 2,539 5,152 4,819
Net occupancy 1,209 1,277 2,742 2,719
Intangible assets amortization 1,028 1,141 2,084 1,998
Professional services 736 743 1,414 1,320
Other tax 317 220 894 747
FDIC and regulatory 459 435 901 836
Merger-related 0 1,943 0 9,974
Other 3,063 3,375 5,765 5,734
Total Noninterest Expenses 23,125 25,366 46,740 54,701
Income Before Income Taxes 19,248 14,910 36,511 14,361
Income tax expense 4,034 3,262 7,594 2,985
Net Income $ 15,214 $ 11,648 $ 28,917 $ 11,376
PER SHARE DATA        
Basic earnings (in dollars per share) $ 1.50 $ 1.11 $ 2.82 $ 1.12
Diluted earnings (in dollars per share) $ 1.49 $ 1.11 $ 2.81 $ 1.12
Weighted average shares of common stock outstanding, basic (in shares) 10,170,860 10,451,469 10,259,205 10,130,666
Weighted average shares of common stock outstanding, diluted (in shares) 10,212,225 10,487,519 10,288,802 10,157,331
Gain from mortgage loans held for sale        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax $ 1,463 $ 1,575 $ 2,689 $ 2,430
Service charges on deposits        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax 1,243 1,179 2,478 2,273
Wealth management        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax 1,191 1,090 2,351 2,150
ATM debit card charges        
NONINTEREST INCOME        
Revenue from contract with customer, excluding assessed tax $ 933 $ 905 $ 1,839 $ 1,736