Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans, including fees $ 19,171 $ 15,660
Securities    
Taxable 4,428 4,481
Tax-exempt 698 698
FHLB Stock 120 65
Federal funds sold and other short-term investments 4,660 6,362
Total interest income 29,077 27,266
Interest expense    
Deposits 8,221 4,494
Other borrowings 129 156
Total interest expense 8,350 4,650
Net interest income 20,727 22,616
Provision for credit losses 0 [1] 0
Net interest income after provision (benefit) for credit losses 20,727 22,616
Noninterest income    
Net gains on mortgage loans 8 11
BOLI income 274 199
Other 572 629
Total noninterest income 4,660 4,528
Noninterest expense    
Salaries and benefits 6,950 6,698
Occupancy of premises 999 1,137
Furniture and equipment 1,062 1,031
Legal and professional 664 348
Marketing and promotion 211 219
Data processing 1,084 955
FDIC assessment 330 330
Interchange and other card expense 406 384
Bond and D&O Insurance 122 122
Other 1,417 941
Total noninterest expenses 13,245 12,165
Income before income tax 12,142 14,979
Income tax expense 2,349 2,975
Net income $ 9,793 $ 12,004
Basic and diluted earnings per common share (in dollars per share) $ 0.29 $ 0.35
Cash dividends per common share (in dollars per share) $ 0.09 $ 0.08
Service [Member]    
Noninterest income    
Noninterest revenue $ 1,003 $ 994
Trust Fees [Member]    
Noninterest income    
Noninterest revenue 1,220 1,033
ATM and Debit Card Fees [Member]    
Noninterest income    
Noninterest revenue $ 1,583 $ 1,662
[1] Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology.