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
Interest income        
Interest and fees on loans $ 26,632 $ 18,067 $ 45,258 $ 35,382
Interest and dividends on available-for-sale & equity securities:        
Taxable 3,120 3,970 6,263 7,983
Tax-exempt 368 355 723 708
Interest on interest-bearing balances and other interest income 511 718 863 1,235
Total interest income 30,631 23,110 53,107 45,308
Interest on deposits        
Interest-bearing demand 2,660 2,315 4,654 4,715
Money market 2,691 1,862 4,294 3,680
Savings 1,361 901 2,264 1,794
Time less than or equal to $250 2,956 3,159 5,594 6,442
Time greater than $250 736 527 1,266 1,045
Interest on short-term borrowings 596 689 1,358 1,145
Interest on long-term debt 0 67 0 423
Interest on subordinated debt 1,280 938 2,217 1,875
Total interest expense 12,280 10,458 21,647 21,119
Net interest income 18,351 12,652 31,460 24,189
Provision (reversal) for credit losses 222 (146) 522 404
Net interest income after provision (reversal) for credit losses 18,129 12,798 30,938 23,785
Non-interest income        
Fees for services to customers 658 485 1,171 932
ATM and debit card 811 724 1,552 1,380
Retail brokerage and advisory 148 140 351 281
Bank-owned life insurance 133 81 225 168
Merchant 81 82 163 157
Net gain on sale of securities 96 0 96 0
Net unrealized gain on equity securities 268 0 268 0
Net loss on interest-rate swap termination (303) 0 (303) 0
Net gain on sale of loans 36 4 44 22
Other 211 136 373 296
Total non-interest income 2,139 1,652 3,940 3,236
Non-interest expense        
Salaries and employee benefits 7,200 5,251 12,816 10,283
Net occupancy 767 546 1,452 1,160
Furniture and equipment 1,422 1,135 2,629 2,257
Marketing 242 250 600 439
Third party services 1,193 788 2,007 1,450
Telephone, postage and supplies 150 120 273 244
State taxes 441 236 646 503
FDIC insurance premiums 302 269 494 543
Merger-related expenses 3,084 0 3,972 0
Other 1,635 967 2,685 2,052
Total non-interest expense 16,436 9,562 27,574 18,931
Income before income taxes 3,832 4,888 7,304 8,090
Provision for income taxes 817 1,005 1,524 1,629
Net income $ 3,015 $ 3,883 $ 5,780 $ 6,461
Earnings per share - basic $ 0.61 $ 1.05 $ 1.32 $ 1.74
Earnings per share - diluted 0.6 1.04 1.32 1.74
Cash dividends per share $ 0.39 $ 0.38 $ 0.78 $ 0.76