v3.26.1
Consolidated Statements of Income (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Loans receivable, including fees $ 46,202,000 $ 45,038,000 $ 92,214,000 $ 88,340,000
Interest and dividends on investment securities, cash and cash equivalents, and interest-bearing deposits at other financial institutions 3,460,000 3,665,000 6,781,000 7,150,000
Total interest and dividend income 49,662,000 48,703,000 98,995,000 95,490,000
INTEREST EXPENSE        
Deposits 13,908,000 14,520,000 28,621,000 27,578,000
Borrowings 2,197,000 1,585,000 3,581,000 3,848,000
Subordinated notes 909,000 486,000 1,600,000 971,000
Total interest expense 17,014,000 16,591,000 33,802,000 32,397,000
NET INTEREST INCOME 32,648,000 32,112,000 65,193,000 63,093,000
PROVISION FOR CREDIT LOSSES 2,641,000 2,021,000 5,170,000 3,613,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 30,007,000 30,091,000 60,023,000 59,480,000
NONINTEREST INCOME        
Service charges and fee income 2,281,000 2,323,000 4,354,000 4,567,000
Gain on sale of loans 2,581,000 1,972,000 4,965,000 3,672,000
Earnings on cash surrender value of BOLI 263,000 254,000 522,000 505,000
Other noninterest income 1,025,000 621,000 1,710,000 1,552,000
Total noninterest income 6,150,000 5,170,000 11,551,000 10,296,000
NONINTEREST EXPENSE        
Salaries and benefits 15,570,000 14,088,000 30,424,000 28,621,000
Operations 2,699,000 3,824,000 6,079,000 7,269,000
Occupancy 1,938,000 1,780,000 3,814,000 3,496,000
Data processing 1,826,000 2,137,000 3,420,000 4,182,000
Loan costs 900,000 719,000 1,782,000 1,267,000
Professional and board fees 1,060,000 1,155,000 2,074,000 2,342,000
Federal Deposit Insurance Corporation (“FDIC”) insurance 531,000 554,000 1,158,000 1,092,000
Marketing and advertising 445,000 398,000 754,000 619,000
Acquisition costs 417,000 0 712,000 0
Amortization of core deposit intangible 722,000 809,000 1,466,000 1,639,000
(Recovery) impairment of MSRs (4,000) 38,000 (59,000) 29,000
Total noninterest expense 26,104,000 25,502,000 51,624,000 50,556,000
INCOME BEFORE PROVISION FOR INCOME TAXES 10,053,000 9,759,000 19,950,000 19,220,000
PROVISION FOR INCOME TAXES 2,117,000 2,031,000 4,184,000 3,471,000
NET INCOME $ 7,936,000 $ 7,728,000 $ 15,766,000 $ 15,749,000
Basic earnings per share (in dollars per share) $ 1.06 $ 1 $ 2.11 $ 2.02
Diluted earnings per share (in dollars per share) $ 1.04 $ 0.99 $ 2.07 $ 1.99