v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 28,681 $ 29,620 $ 56,747 $ 59,244
Securities available-for-sale:        
Taxable 1,832 2,298 3,351 4,914
Tax-exempt 264 279 538 563
Securities held-to-maturity 2 2 4 4
Other interest and dividend income 877 557 2,087 1,326
TOTAL INTEREST AND DIVIDEND INCOME 31,656 32,756 62,727 66,051
INTEREST EXPENSE        
Deposits 11,616 13,933 23,829 28,471
Borrowings   13 0 13
TOTAL INTEREST EXPENSE 11,616 13,946 23,829 28,484
NET INTEREST INCOME 20,040 18,810 38,898 37,567
Provision for (reversal of) credit losses (353) 6,956 (509) 7,224
NET INTEREST INCOME AFTER PROVISION FOR (REVERSAL OF) CREDIT LOSSES 20,393 11,854 39,407 30,343
NON-INTEREST INCOME        
Income from bank-owned life insurance 516 494 1,024 965
Fees and service charges 597 551 1,177 1,062
Loan fees, including prepayment penalties 908 703 1,436 1,378
Other 415 503 1,250 1,036
TOTAL NON-INTEREST INCOME 2,436 2,251 4,887 4,441
NON-INTEREST EXPENSE        
Salaries and employee benefits 7,153 7,093 14,178 14,265
Occupancy and equipment 2,252 2,147 4,644 4,432
Professional fees 974 721 1,734 1,482
Data processing and communications 1,581 1,543 3,208 3,169
Federal deposit insurance 300 415 600 948
Advertising and promotion 136 152 311 323
Office 136 238 267 348
Other real estate owned 0 0 0 27
Core deposit intangible amortization 186 219 382 447
Other 928 981 1,737 1,860
TOTAL NON-INTEREST EXPENSE 13,646 13,509 27,061 27,301
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) 9,183 596 17,233 7,483
INCOME TAX EXPENSE (BENEFIT) 2,102 (92) 3,923 1,417
NET INCOME $ 7,081 $ 688 $ 13,310 $ 6,066
Earnings per common share-basic $ 1.04 $ 0.1 $ 1.96 $ 0.88
Earnings per common share-diluted $ 1.04 $ 0.1 $ 1.95 $ 0.88