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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:    
Loans, including fees $ 27,198 $ 22,289
Taxable securities 3,557 3,583
Tax exempt securities 258 261
Interest-earning deposits 206 97
Total interest and dividend income 31,219 26,230
Interest expense:    
Deposits 12,145 5,387
Borrowed funds 985 896
Total interest expense 13,130 6,283
Net interest income 18,089 19,947
Provision (credit) for credit losses (2,040) 277
Net interest income after provision for credit losses 20,129 19,670
Non-interest income:    
Changes in fair value of equity investments 101 72
Net gains (losses) on sales of loans held for sale 32 5
Net gains on sales of other real estate owned 9 10
Other 800 682
Total non-interest income 5,657 5,423
Non-interest expenses:    
Salaries and wages 7,016 6,783
Pension and other employee benefits 2,082 1,680
Other components of net periodic pension and postretirement benefits (232) (174)
Net occupancy 1,493 1,465
Furniture and equipment 398 418
Data processing 2,573 2,381
Professional services 559 440
Marketing and advertising 345 332
Other real estate owned 49 38
FDIC insurance 577 497
Loan expense 255 232
Other 1,583 1,744
Total non-interest expenses 16,698 15,836
Income before income tax expense 9,088 9,257
Income tax expense 2,038 1,987
Net income $ 7,050 $ 7,270
Weighted average shares outstanding, basic (in shares) 4,764 4,721
Weighted average shares outstanding, diluted (in shares) 4,764 4,721
Basic earnings per share (in dollars per share) $ 1.48 $ 1.54
Diluted earnings per share (in dollars per share) $ 1.48 $ 1.54
WMG fee income    
Non-interest income:    
Revenues from contracts with customer $ 2,703 $ 2,580
Service charges on deposit accounts    
Non-interest income:    
Revenues from contracts with customer 949 941
Interchange revenue from debit card transactions    
Non-interest income:    
Revenues from contracts with customer $ 1,063 $ 1,133