XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - 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 $ 13,098 $ 10,857 $ 38,197 $ 30,979
Due from banks interest bearing accounts 2,064 1,118 6,967 1,793
Investment securities        
Taxable 2,685 2,122 8,041 5,783
Non-taxable 199 250 692 634
Other earning assets 214 137 557 361
Total interest and dividend income 18,260 14,484 54,454 39,550
Interest expense:        
Deposits 2,386 271 4,817 691
Total interest expense 2,386 271 4,817 691
Net interest income 15,874 14,213 49,637 38,859
Provision for credit losses 500 300 3,100 900
Net interest income after provision for credit losses 15,374 13,913 46,537 37,959
Non-interest income:        
Service charges on deposit accounts 436 414 1,259 1,308
Gains on sales of loans held-for-sale 62 27 93 145
Investment and brokerage services income 136 137 387 443
Mortgage brokerage income 11 10 21 21
Loan servicing income 79 78 209 569
Debit card income 713 635 2,094 1,915
Losses on sales/calls of available-for-sale securities 0 0 (64) (152)
Gain on bargain purchase 0 0 1,405 0
Other income 339 769 751 1,231
Total non-interest income 1,776 2,070 6,155 5,480
Non-interest expenses:        
Salaries and employee benefits 6,377 6,164 19,653 17,578
Occupancy and equipment 1,064 896 3,138 2,645
Data processing 933 912 2,949 2,587
Stationery and supplies 103 75 272 203
Advertising 111 99 322 276
Directors' fees 83 60 234 196
Amortization of core deposit intangible 226 0 603 0
Other expense 1,986 1,703 5,363 4,854
Total non-interest expenses 10,883 9,909 32,534 28,339
Income before provision for income taxes 6,267 6,074 20,158 15,100
Provision for income taxes 1,648 1,506 5,486 3,945
Net income $ 4,619 $ 4,568 $ 14,672 $ 11,155
Basic earnings per common share (in dollars per share) $ 0.32 $ 0.32 $ 1.01 $ 0.77
Diluted earnings per common share (in dollars per share) $ 0.32 $ 0.31 $ 1.01 $ 0.77