Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Income

v3.26.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Interest income:    
Loans receivable $ 80,337 $ 77,515
Securities 7,819 8,250
Other interest earning assets 3,607 3,413
Total interest income 91,763 89,178
Interest expense:    
Deposits 31,426 35,162
Federal funds purchased and repurchase agreements 1,430 1,600
Borrowed funds 2,164 3,969
Total interest expense 35,020 40,731
Net interest income 56,743 48,447
Provision for (benefit from) credit losses (205) (503)
Net interest income after provision for credit losses 56,948 48,950
Non-interest income:    
Fees and service charges 5,387 5,312
Wealth management operations 2,733 2,855
Gain (loss) on tax credit investment 90 1,236
Gain (loss) on sale of loans held-for-sale, net 1,219 1,138
Gain (loss) on sale of securities, net (1,577) (531)
Bank owned life insurance 1,379 812
Gain (loss) on sale of property and equipment (55) 11,661
Other 122 164
Total non-interest income 9,298 22,647
Non-interest expense:    
Compensation and benefits 29,588 27,737
Occupancy and equipment 8,161 8,250
Data processing 4,961 4,672
Marketing 787 799
Federal deposit insurance premiums 1,720 1,790
Professional and outside services 4,226 5,405
Technology 2,069 2,243
Other 6,624 7,246
Total non-interest expense 58,136 58,142
Income before income tax expense 8,110 13,455
Income tax expense (benefit) 23 1,325
Net income $ 8,087 $ 12,130
Earnings per common share:    
Basic (in dollars per share) $ 1.89 $ 2.85
Diluted (in dollars per share) 1.88 2.84
Dividends declared per common share (in dollars per share) $ 0.36 $ 0.48