v3.26.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest and dividend income:        
Loans, including fees $ 34,093 $ 31,033 $ 98,436 $ 88,567
Taxable securities 1,698 1,653 5,051 7,206
Tax exempt securities 89 80 241 545
Interest-earning deposits 239 1,118 867 2,298
Total interest and dividend income 36,119 33,884 104,595 98,616
Interest expense:        
Deposits 8,824 10,171 26,066 32,403
Borrowed funds 1,621 1,025 4,601 2,900
Total interest expense 10,445 11,196 30,667 35,303
Net interest income 25,674 22,688 73,928 63,313
Provision (credit) for credit losses (2,602) 1,064 (1,440) 3,301
Net interest income after provision for credit losses 28,276 21,624 75,368 60,012
Non-interest income:        
Net (losses) on securities transactions 0 0 0 (17,498)
Changes in fair value of equity investments (41) 136 160 197
Net gains on sales of loans held for sale 41 78 109 169
Net gains (losses) on sales of other real estate owned 0 0 0 (8)
Income from bank-owned life insurance 7 8 21 24
Other 993 732 2,987 3,013
Total non-interest income 6,307 6,088 19,130 1,272
Non-interest expense:        
Salaries and wages 8,203 7,925 23,840 22,713
Pension and other employee benefits 2,124 2,298 6,532 6,332
Other components of net periodic pension and postretirement benefits (127) (113) (411) (339)
Net occupancy 1,441 1,371 4,515 4,335
Furniture and equipment 503 399 1,410 1,227
Data processing 2,576 2,534 7,727 7,631
Professional services 782 636 2,435 2,079
Marketing and advertising 150 203 888 893
Other real estate owned 1 8 26 22
FDIC insurance 302 352 921 1,225
Loan expense 286 262 1,078 836
Other 1,833 1,770 5,896 5,387
Total non-interest expense 18,074 17,645 54,857 52,341
Income before income tax expense 16,509 10,067 39,641 8,943
Income tax expense 3,802 2,275 8,925 1,580
Net income $ 12,707 $ 7,792 $ 30,716 $ 7,363
Weighted average common shares outstanding, basic (in shares) 4,839,358 4,810,682 4,833,260 4,802,228
Weighted average shares outstanding (in shares) 4,839,358 4,810,682 4,833,260 4,802,228
Basic earnings per common share (in dollars per share) $ 2.63 $ 1.62 $ 6.36 $ 1.53
Diluted earnings per share (in dollars per share) $ 2.63 $ 1.62 $ 6.36 $ 1.53
WMG fee income        
Non-interest income:        
Revenues from contracts with customer $ 3,148 $ 2,967 $ 9,484 $ 8,827
Service charges on deposit accounts        
Non-interest income:        
Revenues from contracts with customer 1,065 1,094 3,154 3,328
Interchange revenue from debit card transactions        
Non-interest income:        
Revenues from contracts with customer $ 1,094 $ 1,073 $ 3,215 $ 3,220