Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
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| Interest income: | ||||
| Loans receivable | $ 19,660 | $ 19,161 | $ 57,713 | $ 55,481 |
| Securities | 2,138 | 2,246 | 6,524 | 6,852 |
| Other interest earning assets | 674 | 371 | 2,346 | 1,194 |
| Total interest income | 22,472 | 21,778 | 66,583 | 63,527 |
| Interest expense: | ||||
| Deposits | 8,946 | 7,066 | 26,350 | 17,258 |
| Repurchase agreements | 435 | 441 | 1,204 | 892 |
| Borrowed funds | 1,085 | 1,138 | 3,189 | 3,537 |
| Total interest expense | 10,466 | 8,645 | 30,743 | 21,687 |
| Net interest income | 12,006 | 13,133 | 35,840 | 41,840 |
| Provision for credit losses | 0 | 244 | 76 | 1,246 |
| Net interest income after provision for credit losses | 12,006 | 12,889 | 35,764 | 40,594 |
| Noninterest income: | ||||
| Fees and service charges | 1,463 | 1,374 | 3,873 | 4,517 |
| Wealth management operations | 731 | 572 | 2,127 | 1,812 |
| Gain on sale of loans held-for-sale, net | 338 | 192 | 810 | 729 |
| Loss on sale of securities, net | 0 | 0 | (531) | (48) |
| Increase in cash value of bank owned life insurance | 205 | 193 | 610 | 573 |
| Gain (loss) on sale of real estate | 0 | 2 | 11,873 | (13) |
| Other | 130 | 64 | 154 | 441 |
| Total noninterest income | 2,867 | 2,397 | 18,916 | 8,011 |
| Noninterest expense: | ||||
| Compensation and benefits | 6,963 | 6,729 | 21,109 | 21,365 |
| Occupancy and equipment | 2,181 | 1,618 | 6,205 | 4,898 |
| Data processing | 1,165 | 1,085 | 3,470 | 3,465 |
| Marketing | 209 | 235 | 579 | 649 |
| Federal deposit insurance premiums | 435 | 474 | 1,333 | 1,511 |
| Professional and Outside Services | 1,251 | 1,077 | 4,064 | 2,858 |
| Technology | 602 | 444 | 1,734 | 1,280 |
| Other | 1,668 | 1,831 | 5,401 | 5,689 |
| Total noninterest expense | 14,474 | 13,493 | 43,895 | 41,715 |
| Income before income tax expense | 399 | 1,793 | 10,785 | 6,890 |
| Income tax expense (benefit) | (207) | (398) | 756 | 21 |
| Net income | $ 606 | $ 2,191 | $ 10,029 | $ 6,869 |
| Earnings per common share: | ||||
| Basic (in dollars per share) | $ 0.14 | $ 0.52 | $ 2.35 | $ 1.6 |
| Diluted (in dollars per share) | 0.14 | 0.51 | 2.35 | 1.6 |
| Dividends declared per common share (in dollars per share) | $ 0.12 | $ 0.31 | $ 0.36 | $ 0.93 |
| X | ||||||||||
- Definition Amount of income from asset management. No definition available.
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- Definition The amount of expenses incurred in the period for data processing products and services. No definition available.
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- Definition Amount of fees and service charges from depositor accounts. No definition available.
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- Definition The net gain (loss) resulting from a sale of loans, including derivatives. No definition available.
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- Definition The amount of expenses incurred in the period for information technology products and services. No definition available.
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- Definition Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) foreign currency transactions; and (3) mortgage servicing rights. No definition available.
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- Definition The amount of provision expense for credit losses and unfunded commitments. No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of unrealized and realized gain (loss) on investment in debt and equity securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net gain (loss) resulting from sales and other disposals of other real estate owned, increases (decreases) in the valuation allowance for foreclosed real estate, and write-downs of other real estate owned after acquisition or physical possession. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Interest and fee income generated by loans the Entity intends and has the ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (1) industrial and agricultural; (2) real estate; and (3) real estate construction loans; (4) trade financing; (5) lease financing; (6) home equity lines-of-credit; (7) automobile and other vehicle loans; and (8) credit card and other revolving-type loans. Also includes interest income for leases held by the Entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all borrowings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The change in cash surrender or contract value during the period which adjusted the amount of premiums paid in determining the expense or income recognized under the contract for the period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition This is the amount of interest expense incurred during the reporting period as a result of repurchase agreements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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