Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.22.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest income    
Loans, including fees $ 47,176 $ 50,664
Securities    
Taxable 11,333 3,283
Tax-exempt 2,803 3,056
FHLB Stock 199 211
Federal funds sold and other short-term investments 13,395 1,420
Total interest income 74,906 58,634
Interest expense    
Deposits 3,773 915
Other borrowings 987 1,331
Long-term debt 0 319
Total interest expense 4,760 2,565
Net interest income 70,146 56,069
Provision for loan losses (1,125) (2,050)
Net interest income after provision for loan losses 71,271 58,119
Noninterest income    
Service charges and fees 4,769 4,446
Net gains on mortgage loans 706 4,691
Trust fees 4,143 4,331
ATM and debit card fees 6,768 6,505
BOLI income 878 1,033
Other 2,755 2,689
Total noninterest income 20,019 23,695
Noninterest expense    
Salaries and benefits 26,194 25,216
Occupancy of premises 4,200 3,986
Furniture and equipment 4,008 3,940
Legal and professional 961 1,042
Marketing and promotion 803 723
Data processing 3,756 3,456
FDIC assessment 789 749
Interchange and other card expense 1,586 1,517
Bond and D&O Insurance 518 448
Other 5,411 5,013
Total noninterest expenses 48,226 46,090
Income before income tax 43,064 35,724
Income tax expense 8,333 6,710
Net income $ 34,731 $ 29,014
Basic earnings per common share (in dollars per share) $ 1.01 $ 0.85
Diluted earnings per common share (in dollars per share) 1.01 0.85
Cash dividends per common share (in dollars per share) $ 0.32 $ 0.32