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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income    
Interest and fees on loans $ 9,333 $ 8,100
Interest on interest-bearing deposits 228 49
Interest on securities – taxable 4,118 2,473
Interest on securities – nontaxable 365 428
Total interest income 14,044 11,050
Interest Expense    
Interest on time deposits 359 37
Interest on other deposits 2,454 618
Interest on borrowings 285 0
Total interest expense 3,098 655
Net interest income 10,946 10,395
Provision for credit losses 2 134
Net interest income after provision for credit losses 10,944 10,261
Noninterest Income:    
Noninterest Income 1,842 1,708
BOLI income 239 238
Gain on sale of mortgage loans 16 61
Gain on sale of securities 12 0
Other income 375 492
Total noninterest income 2,199 2,291
Noninterest Expense    
Salaries and employee benefits 4,434 3,978
Occupancy, furniture and fixtures 542 492
Data processing and ATM 873 787
FDIC assessment 117 111
Net costs of other real estate owned 11 10
Franchise taxes 375 362
Professional services 753 225
Other operating expenses 559 648
Total noninterest expense 7,664 6,613
Income before income taxes 5,479 5,939
Income tax expense 948 1,053
Net Income $ 4,531 $ 4,886
Basic and fully diluted net income per common share (in dollars per share) $ 0.77 $ 0.81
Weighted average number of common shares outstanding, basic and diluted (in shares) 5,889,687 6,047,230
Dividends declared per common share (in dollars per share) $ 1.00 $ 0
Deposit Account [Member]    
Noninterest Income:    
Noninterest Income $ 592 $ 562
Product and Service, Other [Member]    
Noninterest Income:    
Noninterest Income 53 55
Credit and Debit Card [Member]    
Noninterest Income:    
Noninterest Income 467 440
Fiduciary and Trust [Member]    
Noninterest Income:    
Noninterest Income $ 445 $ 443