Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Income

v3.26.3
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest income:        
Loans receivable $ 21,438 $ 20,246 $ 61,777 $ 59,841
Securities 1,768 1,965 5,296 5,942
Other interest earning assets 811 1,129 2,730 2,568
Total interest income 24,017 23,340 69,803 68,351
Interest expense:        
Deposits 7,478 7,996 21,596 23,821
Federal funds purchased and repurchase agreements 191 392 696 1,110
Borrowed funds 406 509 1,318 1,719
Total interest expense 8,075 8,897 23,610 26,650
Net interest income 15,942 14,443 46,193 41,701
Provision for (benefit from) credit losses 124 (301) 443 (121)
Net interest income after provision for credit losses 15,818 14,744 45,750 41,822
Non-interest income:        
Fees and service charges 1,251 1,463 3,877 3,902
Wealth management operations 725 759 2,134 2,074
Gain (loss) on tax credit investment 0 23 0 90
Gain (loss) on sale of loans held-for-sale, net 281 265 766 873
Bank owned life insurance 215 439 639 857
Gain (loss) on sale of property and equipment 182 (56) 2 (56)
Other 1 20 52 85
Total non-interest income 2,655 2,913 7,470 7,825
Non-interest expense:        
Compensation and benefits 9,735 7,330 25,359 22,015
Occupancy and equipment 1,693 2,004 5,425 6,050
Data processing 1,210 1,116 3,491 3,496
Marketing 399 257 1,252 557
Federal deposit insurance premiums 383 399 1,111 1,303
Professional and outside services 1,614 945 4,004 3,320
Technology 594 549 1,618 1,548
Other 1,355 1,497 4,348 5,066
Total non-interest expense 16,983 14,097 46,608 43,355
Income before income tax expense 1,490 3,560 6,612 6,292
Income tax expense (benefit) 129 63 916 189
Net income $ 1,361 $ 3,497 $ 5,696 $ 6,103
Earnings per common share:        
Basic (in dollars per share) $ 0.32 $ 0.82 $ 1.33 $ 1.43
Diluted (in dollars per share) 0.31 0.81 1.32 1.42
Dividends declared per common share (in dollars per share) $ 0.12 $ 0.12 $ 0.36 $ 0.24