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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and Dividend Income    
Interest and fees on loans $ 20,425 $ 18,184
Interest on investment securities, taxable 2,251 1,380
Interest on investment securities, tax-exempt 19 30
Dividends 75 60
Interest on deposits in banks 683 91
Total interest and dividend income 23,453 19,745
Interest Expense    
Deposits 8,559 1,323
Federal funds purchased 9 30
Federal Home Loan Bank advances 67  
Subordinated debt 349 476
Total interest expense 8,984 1,829
Net interest income 14,469 17,916
Provision for (recovery of) credit losses (774)  
Net interest income after provision for (recovery of) credit losses 15,243 17,916
Non-interest Income    
Service charges on deposit accounts 72 77
Bank owned life insurance 100 95
Other service charges and fees 203 137
Losses on sale of available-for-sale securities (202)  
Insurance commissions 206 221
Other income (loss) 187 (116)
Total non-interest income 566 414
Non-interest Expenses    
Salaries and employee benefits 4,912 6,027
Occupancy expense of premises 470 493
Furniture and equipment expenses 296 325
Other operating expenses 2,092 1,941
Total non-interest expenses 7,770 8,786
Income before income taxes 8,039 9,544
Income tax expense 1,735 1,870
Net income $ 6,304 $ 7,674
Earnings per share, basic $ 0.45 $ 0.55
Earnings per share, diluted $ 0.44 $ 0.55