v3.26.1
CONSOLIDATED STATEMENTS OF NET INCOME - UNAUDITED - 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:        
 Commercial real estate loans $ 13,690 $ 13,294 $ 27,330 $ 26,101
Residential real estate loans 10,605 9,253 21,013 18,162
Commercial and industrial loans 3,609 3,596 6,942 6,788
Consumer loans 56 71 115 147
Total interest income from loans 27,960 26,214 55,400 51,198
Investment securities, taxable 2,456 2,587 4,954 5,008
Marketable equity securities 1 1 8 2
Total interest and dividend income from investment securities 2,457 2,588 4,962 5,010
Other investments 156 169 303 360
Short-term investments 208 641 397 1,481
 Total interest income from cash and cash equivalents 364 810 700 1,841
 Total interest and dividend income 30,781 29,612 61,062 58,049
Interest expense:        
Deposits 10,358 10,437 20,336 21,813
Short-term borrowings 236 47 558 101
Long-term debt 515 1,232 1,417 2,451
Subordinated debt 351 254 605 508
Total interest expense 11,460 11,970 22,916 24,873
Net interest and dividend income 19,321 17,642 38,146 33,176
Provision for (reversal of) credit losses 1,557 (615) 1,632 (473)
Net interest and dividend income after provision for (reversal of) credit losses 17,764 18,257 36,514 33,649
Non-interest income:        
Service charges and fees 2,422 2,235 4,553 4,258
Wealth management income 389 293 779 554
Income from bank-owned life insurance 535 516 1,011 989
Net unrealized gain on marketable equity securities 47 25 34 20
Gain on bank-owned life insurance death benefits 1 450
Gain on mortgage banking activities 4 11
Gain on non-marketable equity investments 243 243
Other income 95 95
Total non-interest income 3,394 3,411 6,827 6,170
Non-interest expense:        
Salaries and employee benefits 9,476 8,831 18,705 17,244
Occupancy 1,319 1,265 2,881 2,677
Furniture and equipment 404 491 837 978
Data processing 961 933 1,782 1,815
Software 712 645 1,401 1,304
Debit card and ATM processing expense 644 674 1,307 1,251
Professional fees 622 623 1,131 1,169
FDIC insurance assessment 377 399 769 830
Advertising 457 443 899 872
Other non-interest expenses 1,383 1,352 2,651 2,700
Total non-interest expense 16,355 15,656 32,363 30,840
Income before income taxes 4,803 6,012 10,978 8,979
Income tax provision 1,205 1,422 2,603 2,086
 Net income $ 3,598 $ 4,590 $ 8,375 $ 6,893
Earnings per common share:        
Basic earnings per share $ 0.18 $ 0.23 $ 0.42 $ 0.34
Weighted average basic shares outstanding 19,781,515 20,210,650 19,888,504 20,297,582
Diluted earnings per share $ 0.18 $ 0.23 $ 0.42 $ 0.34
Weighted average diluted shares outstanding 19,894,399 20,312,881 19,979,139 20,413,006
Dividends per share $ 0.07 $ 0.07 $ 0.14 $ 0.14