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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and Dividend Income        
Interest and fees on loans $ 18,222 $ 16,737 $ 53,740 $ 52,075
Interest on investment securities, taxable 2,323 1,159 5,597 2,921
Interest on investment securities, tax-exempt 30 30 90 90
Dividends 62 65 185 196
Interest on deposits in banks 571 51 897 134
Total interest and dividend income 21,208 18,042 60,509 55,416
Interest Expense        
Deposits 3,068 1,473 6,090 5,268
Federal Home Loan Bank advances   31 42 94
Subordinated debt 448 372 1,461 1,115
Total interest expense 3,516 1,876 7,593 6,477
Net interest income 17,692 16,166 52,916 48,939
Provision for loan losses   325   2,780
Net interest income after provision for loan losses 17,692 15,841 52,916 46,159
Non-interest Income        
Service charges on deposit accounts 79 70 240 188
Bank owned life insurance 255 102 445 309
Other service charges and fees 175 120 469 339
Gains on securities       10
Insurance commissions 47 28 312 205
Other operating income (loss) (106) 5 (493) 155
Total non-interest income 450 325 973 1,206
Non-interest Expenses        
Salaries and employee benefits 5,072 4,977 15,754 15,646
Occupancy expense of premises 461 484 1,435 1,505
Furniture and equipment expenses 323 373 989 1,073
Other operating expenses 2,102 1,789 6,247 6,359
Total non-interest expenses 7,958 7,623 24,425 24,583
Income before income taxes 10,184 8,543 29,464 22,782
Income tax expense 2,139 1,782 5,863 4,868
Net income $ 8,045 $ 6,761 $ 23,601 $ 17,914
Earnings per share, basic $ 0.57 $ 0.50 $ 1.69 $ 1.31
Earnings per share, diluted $ 0.57 $ 0.48 $ 1.67 $ 1.29