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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and fees on loans:    
Taxable $ 34,041 $ 30,049
Tax-exempt 1,418 1,389
Interest and dividends on investment securities:    
Taxable 1,918 2,124
Tax-exempt 371 457
Dividends 2 2
Interest on interest-bearing deposits in other banks 120 14
Interest on federal funds sold 1,127 243
Total interest income 38,997 34,278 CloseClose
Interest expense:    
Interest on deposits 18,704 9,678
Interest on short-term borrowings 262 1,086
Interest on long-term debt 270 27
Interest on subordinated debt 443 443
Total interest expense 19,679 11,234 Close
Net interest income 19,318 23,044 Close
Provision for credit losses 708 1,264 CloseCloseCloseCloseClose
Net interest income after provision for credit losses 18,610 21,780 CloseCloseCloseClose
Noninterest income:     CloseCloseCloseClose
Mortgage banking income 92 103 CloseCloseCloseClose
Increase in cash surrender value of life insurance 279 258 CloseCloseCloseClose
Interest rate swap (loss) gain (24) 223 CloseCloseCloseClose
Net losses on equity investment securities (8) (29) CloseCloseCloseClose
Net gains on sale of investment securities available for sale   81 CloseCloseCloseClose
Total noninterest income 3,402 3,674 CloseCloseCloseCloseClose
Noninterest expense:     CloseCloseCloseClose
Salaries and employee benefits expense 8,839 9,080 CloseCloseCloseClose
Net occupancy and equipment expense 4,725 4,103 CloseCloseCloseClose
Acquisition related expenses 486   CloseCloseCloseClose
Amortization of intangible assets   29 CloseCloseCloseClose
Professional fees and outside services 688 619 CloseCloseCloseClose
FDIC insurance and assessments 594 501 CloseCloseCloseClose
Donations 409 397 CloseCloseCloseClose
Other expenses 2,327 1,757 CloseCloseCloseClose
Total noninterest expense 18,068 16,486 CloseCloseCloseCloseCloseCloseClose
Total Other Income Expenses 57843.0 57856.0 0.0 0.0 0.0 Close Close
Total Other Income Expenses 22039.0 16824.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 20623.0 14296.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 59259.0 60384.0 0.0 0.0 0 Close Close
Income before income taxes 3,944 8,968 CloseCloseClose
Total NonInterest Income Expenses -14666.0 -12812.0 0.0 0 0 Close
Provision for income tax expense 478 1,389
Net income 3,466 7,579
Other comprehensive (loss) income:    
Unrealized (loss) gain on investment securities available for sale (2,441) 10,836
Reclassification adjustment for net (gain) loss on sales included in net income   (81)
Change in derivative fair value 1,079 (1,970)
Other comprehensive (loss) income (1,362) 8,785
Income tax (benefit) expense related to other comprehensive (loss) income (298) 1,891 Close
Other comprehensive (loss) income, net of income tax (benefit) expense (1,064) 6,894
Comprehensive income $ 2,402 $ 14,473
Per share data:    
Basic $ 0.49 $ 1.06
Diluted $ 0.49 $ 1.05
Weighted average common shares outstanding:    
Basic 7,052,912 7,157,553
Diluted 7,102,112 7,198,970
Dividends declared $ 0.41 $ 0.41
Service charges, fees, commissions and other    
Noninterest income:    
Revenue from contracts with customers $ 2,036 $ 1,965
Merchant services income    
Noninterest income:    
Revenue from contracts with customers 115 118
Commission and fees on fiduciary activities    
Noninterest income:    
Revenue from contracts with customers 551 557
Wealth management income    
Noninterest income:    
Revenue from contracts with customers $ 361 $ 398