XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Income - 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        
Interest and fees on loans $ 21,925 $ 18,222 $ 63,355 $ 53,740
Interest on investment securities, taxable 1,507 2,323 5,895 5,597
Interest on investment securities, tax-exempt 10 30 45 90
Dividends 75 62 222 185
Interest on deposits in banks 2,746 571 4,654 897
Total interest and dividend income 26,263 21,208 74,171 60,509
Interest Expense        
Deposits 13,273 3,068 33,590 6,090
Federal funds purchased     10  
Federal Home Loan Bank advances     67 42
Federal Reserve Bank borrowings 662   1,001  
Subordinated debt 349 448 1,047 1,461
Total interest expense 14,284 3,516 35,715 7,593
Net interest income 11,979 17,692 38,456 52,916
Provision for (recovery of) credit losses (829)   (2,471)  
Net interest income after provision for (recovery of) credit losses 12,808 17,692 40,927 52,916
Non-interest Income        
Service charges on deposit accounts 85 79 239 240
Bank owned life insurance 23 255 224 445
Other service charges and fees 160 175 677 469
Losses on sale of available-for-sale securities (17,114)   (17,316)  
Insurance commissions 54 47 310 312
Gain on sale of government guaranteed loans 27   50  
Non-qualified deferred compensation plan asset gains (losses), net (60) (107) 112 (498)
Other income 10 1 140 5
Total non-interest income (loss) (16,815) 450 (15,564) 973
Non-interest Expenses        
Salaries and employee benefits 5,052 5,072 14,929 15,754
Occupancy expense of premises 445 461 1,363 1,435
Furniture and equipment expenses 282 323 882 989
Other operating expenses 1,881 2,102 6,087 6,247
Total non-interest expenses 7,660 7,958 23,261 24,425
Income (Loss) before income taxes (11,667) 10,184 2,102 29,464
Income tax expense (benefit) (1,530) 2,139 1,446 5,863
Net income (loss) $ (10,137) $ 8,045 $ 656 $ 23,601
Earnings (loss) per share, basic $ (0.72) $ 0.57 $ 0.05 $ 1.69
Earnings (loss) per share, diluted $ (0.72) $ 0.57 $ 0.05 $ 1.67