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Consolidated Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Loans receivable, including fees $ 25,464,000 $ 22,021,000 $ 73,266,000 $ 61,881,000
Securities 2,526,000 2,433,000 7,635,000 7,418,000
Other 497,000 54,000 2,194,000 156,000
Total interest income 28,487,000 24,508,000 83,095,000 69,455,000
INTEREST EXPENSE        
Deposits 10,553,000 7,017,000 31,349,000 17,119,000
Short-term borrowings 323,000 1,126,000 1,015,000 2,702,000
Other borrowings 1,680,000 1,326,000 5,165,000 2,860,000
Total interest expense 12,556,000 9,469,000 37,529,000 22,681,000
NET INTEREST INCOME 15,931,000 15,039,000 45,566,000 46,774,000
PROVISION FOR (RELEASE OF) CREDIT LOSS EXPENSE 1,345,000 882,000 1,069,000 (568,000)
NET INTEREST INCOME AFTER PROVISION FOR (RELEASE OF) CREDIT LOSSES 14,586,000 14,157,000 44,497,000 47,342,000
OTHER INCOME        
Other income 1,874,000 1,922,000 5,466,000 5,325,000
Net realized gains on sales of securities       (209,000)
Gains on sales of loans, net 103,000 18,000 145,000 27,000
Gain on sales of foreclosed real estate owned   13,000 32,000 13,000
Earnings and proceeds on bank owned life insurance 261,000 328,000 781,000 770,000
Other 158,000 174,000 467,000 520,000
Total other income 2,295,000 2,306,000 6,508,000 6,001,000
OTHER EXPENSES        
Salaries and employee benefits 6,239,000 6,083,000 18,328,000 17,893,000
Occupancy, furniture & equipment, net 1,269,000 1,242,000 3,758,000 3,818,000
Data processing and related operations 1,162,000 876,000 3,208,000 2,465,000
Taxes, other than income 179,000 167,000 452,000 490,000
Professional fees 576,000 524,000 1,669,000 1,132,000
Federal Deposit Insurance Corporation insurance 339,000 254,000 1,009,000 699,000
Foreclosed real estate 9,000 9,000 45,000 112,000
Amortization of intangibles 16,000 20,000 54,000 66,000
Other 2,242,000 2,101,000 6,683,000 5,974,000
Total other expenses 12,031,000 11,276,000 35,206,000 32,649,000
INCOME BEFORE INCOME TAXES 4,850,000 5,187,000 15,799,000 20,694,000
INCOME TAX EXPENSE 1,006,000 1,068,000 3,308,000 4,289,000
Net income $ 3,844,000 $ 4,119,000 $ 12,491,000 $ 16,405,000
BASIC EARNINGS PER SHARE $ 0.48 $ 0.51 $ 1.55 $ 2.03
DILUTED EARNINGS PER SHARE $ 0.48 $ 0.51 $ 1.55 $ 2.03
Service Charges And Fees [Member]        
OTHER INCOME        
Other income $ 1,517,000 $ 1,527,000 $ 4,364,000 $ 4,192,000
Income From Fiduciary Activities [Member]        
OTHER INCOME        
Other income $ 256,000 $ 246,000 $ 719,000 $ 688,000