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        
Interest and fees on loans $ 3,103 $ 3,356 $ 6,103 $ 6,945
Interest and dividends on securities, taxable 8,305 5,274 15,795 9,881
Interest on securities, tax-exempt 279 279 563 561
Interest on interest-bearing deposits in banks 6,023 3,856 10,793 10,119
Total interest and dividend income 17,710 12,765 33,254 27,506
Interest expense        
Interest on deposits 658 971 1,253 1,864
Total interest expense 658 971 1,253 1,864
Net interest income 17,052 11,794 32,001 25,642
Recapture of credit losses        
Recapture of loan credit losses (18) (283) (382) (321)
Recapture of securities credit losses (22) (31) (37) (58)
Total recapture of credit losses (40) (314) (419) (379)
Net interest income after recapture of credit losses 17,092 12,108 32,420 26,021
Noninterest income        
Deposit placement services 2,055 159 3,706 292
Gain on sale of mortgage loans 3 14 3 27
Other income 41 89 73 128
Total noninterest income 2,945 828 5,363 1,523
Noninterest expenses        
Salaries and employee benefits 4,937 4,130 9,735 8,538
Data processing and communication expenses 847 733 1,652 1,399
Professional services 483 801 1,872 1,694
State franchise taxes 375 349 728 700
Occupancy and equipment expenses 328 258 654 509
FDIC and regulatory assessments 268 202 510 430
Insurance expenses 169 153 338 302
Directors’ fees 166 144 397 290
Other operating expenses 475 389 1,010 868
Total noninterest expenses 8,048 7,159 16,896 14,730
Net income before taxes 11,989 5,777 20,887 12,814
Income tax expense 2,477 1,193 4,303 2,623
Net income $ 9,512 $ 4,584 $ 16,584 $ 10,191
Earnings per common share, basic (in dollars per share) [1] $ 1.45 $ 0.70 $ 2.53 $ 1.55
Earnings per common share, diluted (in dollars per share) [1] $ 1.45 $ 0.70 $ 2.53 $ 1.55
Trust and wealth management        
Noninterest income        
Noninterest income $ 501 $ 305 $ 935 $ 575
Service charges on accounts        
Noninterest income        
Noninterest income $ 345 $ 261 $ 646 $ 501
[1] The number of basic and diluted shares are the same because there are no potentially dilutive instruments