v3.26.1
Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Loans $ 17,147 $ 17,186 $ 34,407 $ 33,581
Investment securities:        
Taxable 2,482 2,163 4,816 4,343
Tax-exempt 571 701 1,166 1,420
Interest-bearing deposits at banks 51 48 110 96
Total interest income 20,251 20,098 40,499 39,440
Interest expense:        
Deposits 4,349 5,144 8,960 10,380
Federal Home Loan Bank and other borrowings 484 861 761 1,426
Subordinated debentures 324 358 646 715
Repurchase agreements 14 52 29 117
Total interest expense 5,171 6,415 10,396 12,638
Net interest income 15,080 13,683 30,103 26,802
Provision for credit losses 500 1,000 1,070 1,000
Net interest income after provision for credit losses 14,580 12,683 29,033 25,802
Non-interest income:        
Fees and service charges 2,451 2,476 4,814 4,864
Gains on sales of loans, net [1] 1,241 740 2,126 1,302
Increase in cash surrender value of bank owned life insurance [1] 285 278 658 550
Losses on sales of investment securities, net (2)
Other 118 132 261 270
Total non-interest income 4,095 3,626 7,859 6,984
Non-interest expense:        
Compensation and benefits 6,569 6,234 12,892 12,388
Occupancy and equipment 1,207 1,244 2,657 2,496
Data processing 494 629 1,048 1,025
Amortization of mortgage servicing rights and other intangibles 225 238 453 477
Professional fees 1,251 540 2,015 1,285
Other 2,215 2,076 4,794 4,051
Total non-interest expense 11,961 10,961 23,859 21,722
Earnings before income taxes 6,714 5,348 13,033 11,064
Income tax expense 1,322 944 2,575 1,959
Net earnings $ 5,392 $ 4,404 $ 10,458 $ 9,105
Earnings per share:        
Basic [2],[3] $ 0.88 $ 0.73 $ 1.72 $ 1.50
Diluted [2],[3] 0.88 0.72 1.70 1.49
Dividends per share [2] $ 0.21 $ 0.20 $ 0.42 $ 0.40
[1] Not within the scope of ASC 606.
[2] Per share amounts for the period ended June 30, 2025 have been adjusted to give effect to the 5% stock dividend issued in December 2025.
[3] Share and per share values for the periods ended June 30, 2025 have been adjusted to give effect to the 5% stock dividend paid during December 2025.