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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME:    
Interest and fees on loans $ 22,682 $ 16,143
With a readily determinable fair value 9 17
Without a readily determinable fair value 31 20
Taxable 1,232 1,343
Non-taxable 143 176
Other investments 661 219
TOTAL INTEREST INCOME 24,758 17,918
INTEREST EXPENSE:    
Interest on deposits 8,190 2,456
Interest on short-term borrowings 935 1,304
Interest on long-term debt 1,738 216
TOTAL INTEREST EXPENSE 10,863 3,976
NET INTEREST INCOME 13,895 13,942
Provision for (recovery of) credit losses 125 (57)
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) CREDIT LOSSES 13,770 13,999
NON-INTEREST INCOME:    
Debt Securities, Available-for-sale, Realized Gain (Loss) (214) 0
Bank-owned life insurance income 318 271
Net gains from sales of loans 522 6
Other operating income (loss) (54) 82
TOTAL NON-INTEREST INCOME 3,929 3,581
NON-INTEREST EXPENSE:    
Salaries and employee benefits 8,554 7,349
Equipment expenses 390 361
Occupancy expense, net 1,005 963
State financial institutions tax 428 397
Marketing 174 192
Amortization of intangibles 236 111
FDIC insurance premiums, net 504 215
Contracted services 784 641
Other non-interest expense 2,622 2,271
TOTAL NON-INTEREST EXPENSE 15,472 12,525
INCOME BEFORE INCOME TAXES 2,227 5,055
PROVISION FOR INCOME TAXES 312 898
NET INCOME $ 1,915 $ 4,157
Dividends declared per common share (usd per share) $ 0.22 $ 0.21
Earnings per common share:    
Basic (usd per share) 0.15 0.37
Diluted (usd per share) $ 0.15 $ 0.37
Weighted average common shares outstanding:    
Basic (in shares) 13,112,302 11,189,170
Diluted (in shares) 13,112,302 11,189,170
Merger-related expenses $ 775 $ 25
Fiduciary and Trust    
NON-INTEREST INCOME:    
Revenue from Contract with Customer, Excluding Assessed Tax 1,973 1,740
Deposit Account    
NON-INTEREST INCOME:    
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,384 $ 1,482