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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income:    
Loans $ 9,560 $ 7,410
Taxable Investment Securities 7,500 6,610
Tax-exempt Investment Securities 149 164
Other 1,510 34
Total Interest Income 18,719 14,218
Interest Expense:    
Deposits 6,884 2,915
FHLB Advances and Other Borrowed Money 1,410 628
Subordinated Debentures 348 348
Junior Subordinated Debentures 95 84
Total Interest Expense 8,737 3,975
Net Interest Income 9,982 10,243
Provision for Credit Losses 335 0
Net Interest Income After Provision for Credit Losses 9,647 10,243
Non-Interest Income:    
Gain on Sale of Loans [1] 131 194
Commissions From Insurance Agency [1] 183 163
Trust Income 522 382
BOLI Income [1] 173 150
Other 171 240
Total Non-Interest Income 2,321 2,201
Non-Interest Expense:    
Compensation and Employee Benefits 5,542 5,241
Occupancy 813 807
Advertising 275 245
Depreciation and Maintenance of Equipment 475 598
FDIC Insurance Premiums 163 90
Consulting 172 213
Debit Card Expenses 339 337
Data Processing 339 316
Other 1,517 1,184
Total Non-Interest Expense 9,635 9,031
Income Before Income Taxes 2,333 3,413
Provision for Income Taxes 580 739
Net Income $ 1,753 $ 2,674
Net Income Per Common Share (Basic) (in dollars per share) $ 0.54 $ 0.82
Cash Dividend Per Share on Common Stock (in dollars per share) $ 0.14 $ 0.13
Weighted Average Shares Outstanding (Basic) (in shares) 3,228,666 3,253,112
Deposit Account [Member]    
Non-Interest Income:    
Fees income $ 319 $ 270
ATM and Credit Card [Member]    
Non-Interest Income:    
Fees income $ 822 $ 802
[1] Not within the scope of ASC 606