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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Interest and fees on loans $ 10,277 $ 9,333
Interest on interest-bearing deposits 1,129 228
Interest on securities – taxable 4,276 4,118
Interest on securities – nontaxable 339 365
Total interest income 16,021 14,044 CloseClose
Interest Expense    
Interest on time deposits 2,552 359
Interest on other deposits 5,224 2,454
Interest on borrowings 0 285
Total interest expense 7,776 3,098 Close
Net interest income 8,245 10,946 Close
(Recovery of) provision for credit losses (10) 2 CloseCloseCloseClose
Net interest income after (recovery of) provision for credit losses 8,255 10,944 CloseCloseCloseClose
Noninterest Income:     CloseCloseCloseClose
Noninterest Income 1,903 1,842 CloseCloseCloseClose
BOLI income 258 239 CloseCloseCloseClose
Gain on sale of mortgage loans 24 16 CloseCloseCloseClose
Other income 319 375 CloseCloseCloseClose
Realized securities gain, net 0 12 CloseCloseCloseClose
Total noninterest income 2,199 2,199 CloseCloseCloseCloseClose
Noninterest Expense     CloseCloseCloseClose
Salaries and employee benefits 4,466 4,434 CloseCloseCloseClose
Occupancy, furniture and fixtures 539 542 CloseCloseCloseClose
Data processing and ATM 867 873 CloseCloseCloseClose
FDIC assessment 187 117 CloseCloseCloseClose
Net costs of other real estate owned 0 11 CloseCloseCloseClose
Franchise taxes 350 375 CloseCloseCloseClose
Professional services 240 753 CloseCloseCloseClose
Merger-related expenses 484 0 CloseCloseCloseClose
Other operating expenses 629 559 CloseCloseCloseClose
Total noninterest expense 7,762 7,664 CloseCloseCloseCloseCloseCloseClose
Total Other Income Expenses 28472.0 30953.0 0.0 0.0 0.0 Close Close
Total Other Income Expenses 11982.0 9069.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 11962.0 9065.0 0.0 0.0 0.0 Close CloseClose
Total Other Income Expenses 28492.0 30957.0 0.0 0.0 0 Close Close
Income before income taxes 2,692 5,479 CloseCloseClose
Total NonInterest Income Expenses -5563.0 -5465.0 0.0 0 0 Close
Income tax expense 518 948 Close
Net Income $ 2,174 $ 4,531 Close
Basic earnings per common share (in dollars per share) $ 0.37 $ 0.77
Diluted earnings per common share (in dollars per share) $ 0.37 $ 0.77
Weighted average number of common shares outstanding, basic (in shares) 5,889,687 5,889,687
Weighted average number of common shares outstanding, diluted (in shares) 5,891,651 5,889,687
Dividends declared per common share (in dollars per share) $ 0 $ 1
Deposit Account [Member]    
Noninterest Income:    
Noninterest Income $ 675 $ 592
Product and Service, Other [Member]    
Noninterest Income:    
Noninterest Income 46 53
Credit and Debit Card [Member]    
Noninterest Income:    
Noninterest Income 374 467
Fiduciary and Trust [Member]    
Noninterest Income:    
Noninterest Income $ 503 $ 445