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Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans, including fees $ 16,805 $ 16,849 $ 33,772 $ 32,878
Investment securities 1,886 2,108 3,950 4,212
Interest-earning deposits with banks 482 620 968 856
Dividends on FHLB stock 144 120 270 251
Total interest income 19,317 19,697 38,960 38,197
Interest expense        
Deposits 9,498 8,590 19,414 14,922
FHLB advances and other borrowings 849 798 1,676 1,710
Total interest expense 10,347 9,388 21,090 16,632
Net interest income 8,970 10,309 17,870 21,565
(Recapture of provision) provision for credit losses (200) (247) (375) 91
Net interest income after (recapture of provision) provision for credit losses 9,170 10,556 18,245 21,474
Noninterest income        
BOLI income 310 274 661 582
Wealth management revenue, net 54 95 149 140
Deposit related fees 240 252 462 475
Loan related fees 97 44 155 136
Other (expense) income, net (28) 133 34 130
Total noninterest income 673 798 1,461 1,463
Noninterest expense        
Salaries and employee benefits 3,817 5,064 10,580 10,525
Occupancy and equipment 1,225 1,160 2,451 2,325
Professional fees 749 887 2,049 1,304
Data processing 856 711 1,642 1,397
Regulatory assessments 170 267 337 368
Insurance and bond premiums 118 115 250 245
Marketing 47 98 110 175
Other general and administrative 959 1,202 1,853 2,120
Total noninterest expense 7,941 9,504 19,272 18,459
Income before federal income tax provision (benefit) 1,902 1,850 434 4,478
Federal income tax provision (benefit) 347 362 (46) 868
Net income $ 1,555 $ 1,488 $ 480 $ 3,610
Earnings per common share        
Basic earnings per share (in dollars per share) $ 0.17 $ 0.16 $ 0.05 $ 0.39
Diluted earnings per share (in dollars per share) $ 0.17 $ 0.16 $ 0.05 $ 0.39
Weighted average number of common shares outstanding        
Basic shares outstanding (in shares) 9,168,414 9,120,468 9,162,194 9,112,464
Diluted shares outstanding (in shares) 9,235,446 9,124,227 9,234,813 9,147,721