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Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Interest and fees on loans $ 19,921 $ 17,960 $ 40,089 $ 35,086
Interest on investments 2,542 2,817 5,053 5,364
Total interest and dividend income 22,463 20,777 45,142 40,450
Interest expense:        
Interest on deposits 9,338 6,162 18,547 10,510
Interest on FHLB and FRB borrowed funds 576 1,892 1,088 3,385
Interest on other borrowed funds 973 1,037 2,026 2,074
Total interest expense 10,887 9,091 21,661 15,969
Net interest income before provision for credit losses 11,576 11,686 23,481 24,481
(Negative) provision for credit losses (1,525) 450 (2,325) 500
Net interest income after provision for credit losses 13,101 11,236 25,806 23,981
Non-interest income:        
Service charges on deposit accounts 490 488 961 973
Interchange income 579 591 1,120 1,142
Loan servicing income 526 499 1,108 1,068
Gain on sale of loans 226 904 1,246 1,202
Loan fees and service charges 309 88 539 168
Net realized gains on debt securities 0 12 0 12
Net losses (gains) on equity securities (658) (2) (491) 54
Bank Owned Life Insurance (BOLI) death benefit 184 0 184 0
Other 257 333 510 586
Total non-interest income 1,913 2,913 5,177 5,205
Non-interest expense:        
Compensation and related benefits 5,675 5,336 11,158 10,674
Occupancy 1,333 1,359 2,700 2,782
Data processing 1,525 1,444 3,122 2,904
Amortization of intangible assets 179 193 358 397
Mortgage servicing rights expense, net 116 148 264 306
Advertising, marketing and public relations 186 151 350 287
FDIC premium assessment 200 203 405 404
Professional services 347 306 913 811
Gains on repossessed assets, net (18) (9) (18) (38)
Other 756 715 1,824 1,440
Total non-interest expense 10,299 9,846 21,076 19,967
Income before provision for income taxes 4,715 4,303 9,907 9,219
Provision for income taxes 1,040 1,097 2,144 2,351
Net income attributable to common stockholders $ 3,675 $ 3,206 $ 7,763 $ 6,868
Per share information:        
Basic earnings (USD per share) $ 0.35 $ 0.31 $ 0.75 $ 0.66
Diluted earnings (USD per share) 0.35 0.31 0.75 0.66
Cash dividends paid (USD per share) $ 0 $ 0 $ 0.32 $ 0.29