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Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans, including fees $ 6,373 $ 5,097 $ 18,146 $ 14,638
Securities - Taxable 1,783 1,808 5,474 4,691
Securities - Tax-exempt 402 441 1,209 1,275
Federal funds sold and interest bearing bank deposits 85 426 442 767
Total interest income 8,643 7,772 25,271 21,371
Interest expense:        
Deposits 2,334 524 4,934 1,661
Short-term borrowings 37 5 68 15
Total interest expense 2,371 529 5,002 1,676
Net interest income 6,272 7,243 20,269 19,695
Provision for credit losses 105 250 (191) 0
Net interest income after provision for loan losses 6,167 6,993 20,460 19,695
Noninterest income:        
Service charge on deposit accounts 148 158 456 446
Mortgage lending 110 126 345 566
Bank-owned life insurance income 87 97 311 293
Other noninterest income 520 427 1,336 1,259
Securities gains, net 0 44 0 44
Total noninterest income 865 852 2,448 2,608
Noninterest expense:        
Salaries and benefits 2,844 2,975 8,809 8,901
Net occupancy and equipment 755 794 2,341 1,955
Professional fees 261 235 898 704
Other noninterest expense 1,502 1,411 4,743 3,814
Total noninterest expense 5,362 5,415 16,791 15,374
Earnings before income taxes 1,670 2,430 6,117 6,929
Income tax expense 182 432 737 1,049
Net earnings $ 1,488 $ 1,998 $ 5,380 $ 5,880
Net earnings per share:        
Basic and diluted earnings per share $ 0.43 $ 0.57 $ 1.54 $ 1.67
Weighted average shares outstanding:        
Basic and diluted weighted average shares outstanding 3,496,411 3,507,318 3,499,518 3,513,068