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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and dividend income        
Loans and leases, including fees $ 25,121 $ 16,876 $ 71,143 $ 43,746
Securities 101 219 529 664
FHLB and FRB stock dividends 166 98 425 238
Federal funds sold and other 2,778 813 6,470 1,215
Total interest and dividend income 28,166 18,006 78,567 45,863
Interest expense        
Deposits 15,421 3,992 39,500 8,177
FHLB advances and other debt 783 446 2,314 1,340
Subordinated debentures 295 252 867 711
Total interest expense 16,499 4,690 42,681 10,228
Net interest income 11,667 13,316 35,886 35,635
Provision for credit losses        
Provision for credit losses-loans 1,198 150 1,402 150
Provision for credit losses-unfunded commitments (5)   40  
Total provision for credit losses 1,193 150 1,442 150
Net interest income after provision for credit losses 10,474 13,166 34,444 35,485
Noninterest income        
Service charges on deposit accounts 396 268 1,079 823
Net gains on sales of residential mortgage loans 48   85 678
Net gains on sales of commercial loans 12 134 12 277
Swap fee income 444 24 616 42
Earnings on bank owned life insurance 157 151 462 446
Other 244 128 744 293
Total noninterest income 1,301 705 2,998 2,559
Noninterest expense        
Salaries and employee benefits 3,420 4,112 11,184 11,311
Occupancy and equipment 427 324 1,264 955
Data processing 532 1,126 1,568 2,175
Franchise and other taxes 308 178 935 839
Professional fees 635 896 1,873 2,148
Director fees 162 171 496 465
Postage, printing and supplies 31 45 123 126
Advertising and marketing 53 108 307 287
Telephone 61 66 197 180
Loan expenses 151 296 510 502
Depreciation 145 134 426 375
FDIC premiums 568 312 1,590 690
Regulatory assessment 63 70 181 201
Other insurance 55 45 154 135
Impairment of property and equipment 570   570
Other 149 146 816 389
Total noninterest expense 6,760 8,599 21,624 21,348
Income before incomes taxes 5,015 5,272 15,818 16,696
Income tax expense 984 1,023 3,116 3,203
Net income $ 4,031 $ 4,249 $ 12,702 $ 13,493
Earnings per common share:        
Basic $ 0.63 $ 0.66 $ 1.98 $ 2.11
Diluted $ 0.62 $ 0.65 $ 1.97 $ 2.06