☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
CB FINANCIAL SERVICES, INC. | ||||||||
(Exact name of registrant as specified in its charter) |
Pennsylvania | 51-0534721 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
100 N. Market Street, Carmichaels, PA | 15320 | |||||||
(Address of principal executive offices) | (Zip Code) |
(724) 966-5041 | ||||||||
(Registrant’s telephone number, including area code) |
N/A | ||||||||
(Former name, former address and former fiscal year, if changed since last report) |
Common stock, par value $0.4167 per share | CBFV | The Nasdaq Stock Market, LLC | ||||||||||||
(Title of each class) | (Trading symbol) | (Name of each exchange on which registered) |
Large accelerated filer ☐ | Accelerated filer ☐ | ||||||||||
Non-accelerated filer ☒ | Smaller reporting company ☒ | ||||||||||
Emerging growth company ☐ |
Page | |||||
(Unaudited) June 30, 2022 | December 31, 2021 | (Unaudited) September 30, 2022 | December 31, 2021 | |||||||||||||||||||
(Dollars in thousands, except per share and share data) | (Dollars in thousands, except per share and share data) | (Dollars in thousands, except per share and share data) | ||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||
Cash and Due From Banks: | Cash and Due From Banks: | Cash and Due From Banks: | ||||||||||||||||||||
Interest Bearing | Interest Bearing | $ | 49,961 | $ | 63,968 | Interest Bearing | $ | 99,949 | $ | 63,968 | ||||||||||||
Non-Interest Bearing | Non-Interest Bearing | 31,160 | 55,706 | Non-Interest Bearing | 22,852 | 55,706 | ||||||||||||||||
Total Cash and Due From Banks | Total Cash and Due From Banks | 81,121 | 119,674 | Total Cash and Due From Banks | 122,801 | 119,674 | ||||||||||||||||
Securities: | Securities: | Securities: | ||||||||||||||||||||
Available-for-Sale Debt Securities, at Fair Value | Available-for-Sale Debt Securities, at Fair Value | 210,845 | 222,108 | Available-for-Sale Debt Securities, at Fair Value | 191,232 | 222,108 | ||||||||||||||||
Equity Securities, at Fair Value | Equity Securities, at Fair Value | 2,660 | 2,866 | Equity Securities, at Fair Value | 2,614 | 2,866 | ||||||||||||||||
Total Securities | Total Securities | 213,505 | 224,974 | Total Securities | 193,846 | 224,974 | ||||||||||||||||
Loans, Net of Allowance for Loan Losses of $12,833 and $11,582 at June 30, 2022 and December 31, 2021, Respectively | 1,015,136 | 1,009,214 | ||||||||||||||||||||
Loans, Net of Allowance for Loan Losses of $12,854 and $11,582 at September 30, 2022 and December 31, 2021, Respectively | Loans, Net of Allowance for Loan Losses of $12,854 and $11,582 at September 30, 2022 and December 31, 2021, Respectively | 1,030,088 | 1,009,214 | |||||||||||||||||||
Premises and Equipment, Net | Premises and Equipment, Net | 18,196 | 18,399 | Premises and Equipment, Net | 18,064 | 18,399 | ||||||||||||||||
Bank-Owned Life Insurance | Bank-Owned Life Insurance | 25,610 | 25,332 | Bank-Owned Life Insurance | 25,750 | 25,332 | ||||||||||||||||
Goodwill | Goodwill | 9,732 | 9,732 | Goodwill | 9,732 | 9,732 | ||||||||||||||||
Intangible Assets, Net | Intangible Assets, Net | 4,404 | 5,295 | Intangible Assets, Net | 3,959 | 5,295 | ||||||||||||||||
Accrued Interest Receivable and Other Assets | Accrued Interest Receivable and Other Assets | 18,757 | 12,859 | Accrued Interest Receivable and Other Assets | 21,680 | 12,859 | ||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 1,386,461 | $ | 1,425,479 | TOTAL ASSETS | $ | 1,425,920 | $ | 1,425,479 | ||||||||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||||||||
Deposits: | Deposits: | Deposits: | ||||||||||||||||||||
Non-Interest Bearing Demand Deposits | Non-Interest Bearing Demand Deposits | 389,127 | 385,775 | Non-Interest Bearing Demand Deposits | 407,107 | 385,775 | ||||||||||||||||
NOW Accounts | NOW Accounts | 265,347 | 272,518 | NOW Accounts | 298,755 | 272,518 | ||||||||||||||||
Money Market Accounts | Money Market Accounts | 185,308 | 192,125 | Money Market Accounts | 198,715 | 192,125 | ||||||||||||||||
Savings Accounts | Savings Accounts | 250,226 | 239,482 | Savings Accounts | 250,378 | 239,482 | ||||||||||||||||
Time Deposits | Time Deposits | 125,182 | 136,713 | Time Deposits | 120,879 | 136,713 | ||||||||||||||||
Total Deposits | Total Deposits | 1,215,190 | 1,226,613 | Total Deposits | 1,275,834 | 1,226,613 | ||||||||||||||||
Short-Term Borrowings | Short-Term Borrowings | 32,178 | 39,266 | Short-Term Borrowings | 18,108 | 39,266 | ||||||||||||||||
Other Borrowings | Other Borrowings | 17,618 | 17,601 | Other Borrowings | 17,627 | 17,601 | ||||||||||||||||
Accrued Interest Payable and Other Liabilities | Accrued Interest Payable and Other Liabilities | 7,703 | 8,875 | Accrued Interest Payable and Other Liabilities | 7,645 | 8,875 | ||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 1,272,689 | 1,292,355 | TOTAL LIABILITIES | 1,319,214 | 1,292,355 | ||||||||||||||||
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY | ||||||||||||||||||||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | Preferred Stock, No Par Value; 5,000,000 Shares Authorized | — | — | Preferred Stock, No Par Value; 5,000,000 Shares Authorized | — | — | ||||||||||||||||
Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 5,702,433 Shares Issued and 5,128,333 and 5,260,672 Shares Outstanding at June 30, 2022 and December 31, 2021, Respectively | 2,376 | 2,367 | ||||||||||||||||||||
Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 5,702,433 Shares Issued and 5,096,672 Shares Outstanding at September 30, 2022, with 5,680,993 and 5,260,672 Shares Issued and Outstanding at December 31, 2021. | Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 5,702,433 Shares Issued and 5,096,672 Shares Outstanding at September 30, 2022, with 5,680,993 and 5,260,672 Shares Issued and Outstanding at December 31, 2021. | 2,376 | 2,367 | |||||||||||||||||||
Capital Surplus | Capital Surplus | 83,614 | 83,294 | Capital Surplus | 83,793 | 83,294 | ||||||||||||||||
Retained Earnings | Retained Earnings | 58,225 | 57,534 | Retained Earnings | 60,930 | 57,534 | ||||||||||||||||
Treasury Stock, at Cost (574,100 and 420,321 Shares at June 30, 2022 and December 31, 2021, Respectively) | (13,015) | (9,144) | ||||||||||||||||||||
Treasury Stock, at Cost (605,761 and 420,321 Shares at September 30, 2022 and December 31, 2021, Respectively) | Treasury Stock, at Cost (605,761 and 420,321 Shares at September 30, 2022 and December 31, 2021, Respectively) | (13,745) | (9,144) | |||||||||||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss | (17,428) | (927) | Accumulated Other Comprehensive Loss | (26,648) | (927) | ||||||||||||||||
TOTAL STOCKHOLDERS' EQUITY | TOTAL STOCKHOLDERS' EQUITY | 113,772 | 133,124 | TOTAL STOCKHOLDERS' EQUITY | 106,706 | 133,124 | ||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,386,461 | $ | 1,425,479 | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,425,920 | $ | 1,425,479 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||||||||||||||
INTEREST AND DIVIDEND INCOME | INTEREST AND DIVIDEND INCOME | INTEREST AND DIVIDEND INCOME | ||||||||||||||||||||||||||||||||||||||||||||
Loans, Including Fees | Loans, Including Fees | $ | 9,733 | $ | 9,936 | $ | 19,284 | $ | 20,082 | Loans, Including Fees | $ | 10,815 | $ | 9,718 | $ | 30,098 | $ | 29,800 | ||||||||||||||||||||||||||||
Investment Securities: | Investment Securities: | Investment Securities: | ||||||||||||||||||||||||||||||||||||||||||||
Taxable | Taxable | 988 | 635 | 1,893 | 1,281 | Taxable | 985 | 843 | 2,878 | 2,124 | ||||||||||||||||||||||||||||||||||||
Tax-Exempt | Tax-Exempt | 57 | 74 | 123 | 152 | Tax-Exempt | 49 | 71 | 172 | 223 | ||||||||||||||||||||||||||||||||||||
Dividends | Dividends | 20 | 24 | 42 | 44 | Dividends | 21 | 19 | 64 | 63 | ||||||||||||||||||||||||||||||||||||
Other Interest and Dividend Income | Other Interest and Dividend Income | 160 | 151 | 232 | 249 | Other Interest and Dividend Income | 417 | 135 | 649 | 384 | ||||||||||||||||||||||||||||||||||||
TOTAL INTEREST AND DIVIDEND INCOME | TOTAL INTEREST AND DIVIDEND INCOME | 10,958 | 10,820 | 21,574 | 21,808 | TOTAL INTEREST AND DIVIDEND INCOME | 12,287 | 10,786 | 33,861 | 32,594 | ||||||||||||||||||||||||||||||||||||
INTEREST EXPENSE | INTEREST EXPENSE | INTEREST EXPENSE | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 604 | 827 | 1,134 | 1,774 | Deposits | 1,079 | 715 | 2,214 | 2,489 | ||||||||||||||||||||||||||||||||||||
Short-Term Borrowings | Short-Term Borrowings | 18 | 24 | 37 | 47 | Short-Term Borrowings | 19 | 25 | 56 | 72 | ||||||||||||||||||||||||||||||||||||
Other Borrowings | Other Borrowings | 173 | 35 | 347 | 76 | Other Borrowings | 174 | 36 | 522 | 112 | ||||||||||||||||||||||||||||||||||||
TOTAL INTEREST EXPENSE | TOTAL INTEREST EXPENSE | 795 | 886 | 1,518 | 1,897 | TOTAL INTEREST EXPENSE | 1,272 | 776 | 2,792 | 2,673 | ||||||||||||||||||||||||||||||||||||
NET INTEREST AND DIVIDEND INCOME | NET INTEREST AND DIVIDEND INCOME | 10,163 | 9,934 | 20,056 | 19,911 | NET INTEREST AND DIVIDEND INCOME | 11,015 | 10,010 | 31,069 | 29,921 | ||||||||||||||||||||||||||||||||||||
Provision (Recovery) For Loan Losses | Provision (Recovery) For Loan Losses | 3,784 | (1,200) | 3,784 | (1,200) | Provision (Recovery) For Loan Losses | — | — | 3,784 | (1,200) | ||||||||||||||||||||||||||||||||||||
NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR LOAN LOSSES | NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR LOAN LOSSES | 6,379 | 11,134 | 16,272 | 21,111 | NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR LOAN LOSSES | 11,015 | 10,010 | 27,285 | 31,121 | ||||||||||||||||||||||||||||||||||||
NONINTEREST INCOME | NONINTEREST INCOME | NONINTEREST INCOME | ||||||||||||||||||||||||||||||||||||||||||||
Service Fees | Service Fees | 559 | 614 | 1,085 | 1,160 | Service Fees | 544 | 602 | 1,629 | 1,762 | ||||||||||||||||||||||||||||||||||||
Insurance Commissions | Insurance Commissions | 1,369 | 1,209 | 3,167 | 2,804 | Insurance Commissions | 1,368 | 1,194 | 4,535 | 3,998 | ||||||||||||||||||||||||||||||||||||
Other Commissions | Other Commissions | 179 | 173 | 268 | 338 | Other Commissions | 244 | 93 | 512 | 431 | ||||||||||||||||||||||||||||||||||||
Net Gain on Sales of Loans | Net Gain on Sales of Loans | — | 31 | — | 117 | Net Gain on Sales of Loans | — | 49 | — | 166 | ||||||||||||||||||||||||||||||||||||
Net (Loss) Gain on Securities | Net (Loss) Gain on Securities | (199) | 11 | (206) | 458 | Net (Loss) Gain on Securities | (46) | 24 | (252) | 482 | ||||||||||||||||||||||||||||||||||||
Net Gain on Purchased Tax Credits | Net Gain on Purchased Tax Credits | 14 | 17 | 28 | 35 | Net Gain on Purchased Tax Credits | 14 | 18 | 43 | 53 | ||||||||||||||||||||||||||||||||||||
Net Loss on Disposal of Fixed Assets | — | (3) | (8) | (3) | ||||||||||||||||||||||||||||||||||||||||||
Net Gain (Loss) on Disposal of Fixed Assets | Net Gain (Loss) on Disposal of Fixed Assets | 439 | — | 431 | (3) | |||||||||||||||||||||||||||||||||||||||||
Income from Bank-Owned Life Insurance | Income from Bank-Owned Life Insurance | 142 | 136 | 278 | 273 | Income from Bank-Owned Life Insurance | 140 | 138 | 418 | 411 | ||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 41 | 31 | 106 | 211 | Other Income | 36 | 80 | 143 | 291 | ||||||||||||||||||||||||||||||||||||
TOTAL NONINTEREST INCOME | TOTAL NONINTEREST INCOME | 2,105 | 2,219 | 4,718 | 5,393 | TOTAL NONINTEREST INCOME | 2,739 | 2,198 | 7,459 | 7,591 | ||||||||||||||||||||||||||||||||||||
NONINTEREST EXPENSE | NONINTEREST EXPENSE | NONINTEREST EXPENSE | ||||||||||||||||||||||||||||||||||||||||||||
Salaries and Employee Benefits | Salaries and Employee Benefits | 4,539 | 5,076 | 9,104 | 9,970 | Salaries and Employee Benefits | 4,739 | 4,787 | 13,843 | 14,757 | ||||||||||||||||||||||||||||||||||||
Occupancy | Occupancy | 776 | 1,024 | 1,462 | 1,734 | Occupancy | 768 | 615 | 2,230 | 2,349 | ||||||||||||||||||||||||||||||||||||
Equipment | Equipment | 182 | 311 | 392 | 577 | Equipment | 170 | 205 | 561 | 782 | ||||||||||||||||||||||||||||||||||||
Data Processing | Data Processing | 446 | 607 | 931 | 1,125 | Data Processing | 540 | 541 | 1,471 | 1,666 | ||||||||||||||||||||||||||||||||||||
FDIC Assessment | FDIC Assessment | 128 | 249 | 337 | 499 | FDIC Assessment | 147 | 293 | 484 | 792 | ||||||||||||||||||||||||||||||||||||
PA Shares Tax | PA Shares Tax | 240 | 225 | 480 | 490 | PA Shares Tax | 240 | 224 | 721 | 714 | ||||||||||||||||||||||||||||||||||||
Contracted Services | Contracted Services | 348 | 750 | 935 | 1,437 | Contracted Services | 288 | 1,441 | 1,223 | 2,878 | ||||||||||||||||||||||||||||||||||||
Legal and Professional Fees | Legal and Professional Fees | 389 | 419 | 541 | 608 | Legal and Professional Fees | 334 | 180 | 876 | 788 | ||||||||||||||||||||||||||||||||||||
Advertising | Advertising | 115 | 193 | 231 | 333 | Advertising | 131 | 225 | 362 | 558 | ||||||||||||||||||||||||||||||||||||
Other Real Estate Owned (Income) | Other Real Estate Owned (Income) | (37) | (26) | (75) | (64) | Other Real Estate Owned (Income) | (38) | (89) | (113) | (153) | ||||||||||||||||||||||||||||||||||||
Amortization of Intangible Assets | Amortization of Intangible Assets | 446 | 503 | 891 | 1,035 | Amortization of Intangible Assets | 445 | 446 | 1,336 | 1,481 | ||||||||||||||||||||||||||||||||||||
Intangible Assets Impairment | Intangible Assets Impairment | — | 1,178 | — | 1,178 | Intangible Assets Impairment | — | — | — | 1,178 | ||||||||||||||||||||||||||||||||||||
Writedown of Fixed Assets | Writedown of Fixed Assets | — | 2,268 | — | 2,268 | Writedown of Fixed Assets | — | 2 | — | 2,270 | ||||||||||||||||||||||||||||||||||||
Other Expense | Other Expense | 838 | 945 | 1,837 | 1,927 | Other Expense | 1,063 | 903 | 2,899 | 2,830 | ||||||||||||||||||||||||||||||||||||
TOTAL NONINTEREST EXPENSE | TOTAL NONINTEREST EXPENSE | 8,410 | 13,722 | 17,066 | 23,117 | TOTAL NONINTEREST EXPENSE | 8,827 | 9,773 | 25,893 | 32,890 | ||||||||||||||||||||||||||||||||||||
Income Before Income Tax (Benefit) Expense | 74 | (369) | 3,924 | 3,387 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Benefit) Expense | (44) | (146) | 759 | 765 | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME (LOSS) | $ | 118 | $ | (223) | $ | 3,165 | $ | 2,622 | ||||||||||||||||||||||||||||||||||||||
EARNINGS (LOSS) PER SHARE | ||||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense | Income Before Income Tax Expense | 4,927 | 2,435 | 8,851 | 5,822 | |||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 998 | 452 | 1,757 | 1,217 | |||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 3,929 | $ | 1,983 | $ | 7,094 | $ | 4,605 | |||||||||||||||||||||||||||||||||||||
EARNINGS PER SHARE | EARNINGS PER SHARE | |||||||||||||||||||||||||||||||||||||||||||||
Basic | Basic | $ | 0.02 | $ | (0.04) | $ | 0.61 | $ | 0.48 | Basic | $ | 0.77 | $ | 0.37 | $ | 1.38 | $ | 0.85 | ||||||||||||||||||||||||||||
Diluted | Diluted | 0.02 | (0.04) | 0.61 | 0.48 | Diluted | 0.77 | 0.37 | 1.37 | 0.85 | ||||||||||||||||||||||||||||||||||||
WEIGHTED AVERAGE SHARES OUTSTANDING | WEIGHTED AVERAGE SHARES OUTSTANDING | WEIGHTED AVERAGE SHARES OUTSTANDING | ||||||||||||||||||||||||||||||||||||||||||||
Basic | Basic | 5,147,846 | 5,432,234 | 5,172,881 | 5,433,298 | Basic | 5,106,861 | 5,373,032 | 5,150,632 | 5,412,989 | ||||||||||||||||||||||||||||||||||||
Diluted | Diluted | 5,156,975 | 5,432,234 | 5,189,144 | 5,438,401 | Diluted | 5,118,627 | 5,390,128 | 5,165,376 | 5,420,792 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | $ | 118 | $ | (223) | $ | 3,165 | $ | 2,622 | ||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 3,929 | $ | 1,983 | $ | 7,094 | $ | 4,605 | |||||||||||||||||||||||||||||||||||||
Other Comprehensive (Loss) Income: | Other Comprehensive (Loss) Income: | Other Comprehensive (Loss) Income: | ||||||||||||||||||||||||||||||||||||||||||||
Change in Unrealized (Loss) Income on Investment Securities Available-for-Sale | Change in Unrealized (Loss) Income on Investment Securities Available-for-Sale | (8,680) | 922 | (21,032) | (1,929) | Change in Unrealized (Loss) Income on Investment Securities Available-for-Sale | (11,753) | (733) | (32,785) | (2,662) | ||||||||||||||||||||||||||||||||||||
Income Tax Effect | Income Tax Effect | 1,870 | (199) | 4,531 | 413 | Income Tax Effect | 2,533 | 158 | 7,064 | 571 | ||||||||||||||||||||||||||||||||||||
Reclassification Adjustment for Gain on Sale of Debt Securities Included in Net Income (1) | Reclassification Adjustment for Gain on Sale of Debt Securities Included in Net Income (1) | — | — | — | (225) | Reclassification Adjustment for Gain on Sale of Debt Securities Included in Net Income (1) | — | — | — | (225) | ||||||||||||||||||||||||||||||||||||
Income Tax Effect (2) | Income Tax Effect (2) | — | — | — | 48 | Income Tax Effect (2) | — | — | — | 48 | ||||||||||||||||||||||||||||||||||||
Other Comprehensive (Loss) Income, Net of Income Tax Effect | (6,810) | 723 | (16,501) | (1,693) | ||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive (Loss), Net of Income Tax Effect | Other Comprehensive (Loss), Net of Income Tax Effect | (9,220) | (575) | (25,721) | (2,268) | |||||||||||||||||||||||||||||||||||||||||
Total Comprehensive (Loss) Income | Total Comprehensive (Loss) Income | $ | (6,692) | $ | 500 | $ | (13,336) | $ | 929 | Total Comprehensive (Loss) Income | $ | (5,291) | $ | 1,408 | $ | (18,627) | $ | 2,337 |
Three Months Ended June 30, 2022 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Total Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | 5,701,758 | $ | 2,376 | $ | 83,422 | $ | 59,343 | $ | (12,367) | $ | (10,618) | $ | 122,156 | |||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | 5,702,433 | $ | 2,376 | $ | 83,614 | $ | 58,225 | $ | (13,015) | $ | (17,428) | $ | 113,772 | ||||||||||||||||||||||||||||||||
Comprehensive Loss: | Comprehensive Loss: | Comprehensive Loss: | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | — | — | — | 118 | — | — | 118 | Net Income | — | — | — | 3,929 | — | — | 3,929 | ||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | — | — | — | — | — | (6,810) | (6,810) | Other Comprehensive Loss | — | — | — | — | — | (9,220) | (9,220) | ||||||||||||||||||||||||||||||
Restricted Stock Awards Granted | Restricted Stock Awards Granted | 1,000 | — | — | — | — | — | — | Restricted Stock Awards Granted | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Restricted Stock Awards Forfeited | Restricted Stock Awards Forfeited | (325) | — | 43 | — | (43) | — | — | Restricted Stock Awards Forfeited | — | — | 34 | — | (34) | — | — | ||||||||||||||||||||||||||||||
Stock-Based Compensation Expense | Stock-Based Compensation Expense | — | — | 149 | — | — | — | 149 | Stock-Based Compensation Expense | — | — | 145 | — | — | — | 145 | ||||||||||||||||||||||||||||||
Exercise of Stock Options | Exercise of Stock Options | — | — | — | — | — | — | — | Exercise of Stock Options | — | — | — | (2) | — | (2) | |||||||||||||||||||||||||||||||
Treasury stock purchased, at cost (27,439 shares) | — | — | — | — | (605) | — | (605) | |||||||||||||||||||||||||||||||||||||||
Treasury stock purchased, at cost (30,271 shares) | Treasury stock purchased, at cost (30,271 shares) | — | — | — | — | (694) | — | (694) | ||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.24 Per Share) | Dividends Paid ($0.24 Per Share) | — | — | — | (1,236) | — | — | (1,236) | Dividends Paid ($0.24 Per Share) | — | — | — | (1,224) | — | — | (1,224) | ||||||||||||||||||||||||||||||
June 30, 2022 | 5,702,433 | $ | 2,376 | $ | 83,614 | $ | 58,225 | $ | (13,015) | $ | (17,428) | $ | 113,772 | |||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 5,702,433 | $ | 2,376 | $ | 83,793 | $ | 60,930 | $ | (13,745) | $ | (26,648) | $ | 106,706 |
Three Months Ended June 30, 2021 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income | Total Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | 5,680,993 | $ | 2,367 | $ | 82,844 | $ | 52,673 | $ | (5,094) | $ | 986 | $ | 133,776 | |||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | 5,680,993 | $ | 2,367 | $ | 82,969 | $ | 51,146 | $ | (5,655) | $ | 1,709 | $ | 132,536 | ||||||||||||||||||||||||||||||||
Comprehensive Income: | Comprehensive Income: | Comprehensive Income: | ||||||||||||||||||||||||||||||||||||||||||||
Net Loss | — | — | — | (223) | — | — | (223) | |||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | — | — | — | — | — | 723 | 723 | |||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | — | — | — | 1,983 | — | — | 1,983 | ||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | — | — | — | — | — | (575) | (575) | ||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation Expense | Stock-Based Compensation Expense | — | — | 125 | — | — | — | 125 | Stock-Based Compensation Expense | — | — | 169 | — | — | — | 169 | ||||||||||||||||||||||||||||||
Treasury Stock Purchased, at cost (25,297 shares) | — | — | — | — | (561) | — | (561) | |||||||||||||||||||||||||||||||||||||||
Exercise of Stock Options | Exercise of Stock Options | — | — | (8) | — | 62 | — | 54 | ||||||||||||||||||||||||||||||||||||||
Treasury Stock Purchased, at cost (81,676 shares) | Treasury Stock Purchased, at cost (81,676 shares) | — | — | — | — | (1,890) | — | (1,890) | ||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.24 Per Share) | Dividends Paid ($0.24 Per Share) | — | — | — | (1,304) | — | — | (1,304) | Dividends Paid ($0.24 Per Share) | — | — | — | (1,290) | — | — | (1,290) | ||||||||||||||||||||||||||||||
June 30, 2021 | 5,680,993 | $ | 2,367 | $ | 82,969 | $ | 51,146 | $ | (5,655) | $ | 1,709 | $ | 132,536 | |||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 5,680,993 | $ | 2,367 | $ | 83,130 | $ | 51,839 | $ | (7,483) | $ | 1,134 | $ | 130,987 |
Six Months Ended June 30, 2022 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Total Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | 5,680,993 | $ | 2,367 | $ | 83,294 | $ | 57,534 | $ | (9,144) | $ | (927) | $ | 133,124 | December 31, 2021 | 5,680,993 | $ | 2,367 | $ | 83,294 | $ | 57,534 | $ | (9,144) | $ | (927) | $ | 133,124 | ||||||||||||||||||
Comprehensive Loss: | Comprehensive Loss: | Comprehensive Loss: | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | — | — | — | 3,165 | — | — | 3,165 | Net Income | — | — | — | 7,094 | — | — | 7,094 | ||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | — | — | — | — | — | (16,501) | (16,501) | Other Comprehensive Loss | — | — | — | — | — | (25,721) | (25,721) | ||||||||||||||||||||||||||||||
Restricted Stock Awards Granted | Restricted Stock Awards Granted | 21,765 | 9 | (9) | — | — | — | — | Restricted Stock Awards Granted | 21,765 | 9 | (9) | — | — | — | — | ||||||||||||||||||||||||||||||
Restricted Stock Awards Forfeited | Restricted Stock Awards Forfeited | (325) | — | 47 | — | (47) | — | — | Restricted Stock Awards Forfeited | (325) | — | 81 | — | (81) | — | — | ||||||||||||||||||||||||||||||
Stock-Based Compensation Expense | Stock-Based Compensation Expense | — | — | 279 | — | — | — | 279 | Stock-Based Compensation Expense | — | — | 424 | — | — | — | 424 | ||||||||||||||||||||||||||||||
Exercise of Stock Options | Exercise of Stock Options | — | — | 3 | — | 164 | — | 167 | Exercise of Stock Options | — | — | 3 | — | 162 | — | 165 | ||||||||||||||||||||||||||||||
Treasury stock purchased, at cost (159,279 shares) | — | — | — | — | (3,988) | — | (3,988) | |||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.48 Per Share) | — | — | — | (2,474) | — | — | (2,474) | |||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 5,702,433 | $ | 2,376 | $ | 83,614 | $ | 58,225 | $ | (13,015) | $ | (17,428) | $ | 113,772 | |||||||||||||||||||||||||||||||||
Treasury stock purchased, at cost (189,550 shares) | Treasury stock purchased, at cost (189,550 shares) | — | — | — | — | (4,682) | — | (4,682) | ||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.72 Per Share) | Dividends Paid ($0.72 Per Share) | — | — | — | (3,698) | — | — | (3,698) | ||||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | 5,702,433 | $ | 2,376 | $ | 83,793 | $ | 60,930 | $ | (13,745) | $ | (26,648) | $ | 106,706 |
Six Months Ended June 30, 2021 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income | Total Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | Shares Issued | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income | Total Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | 5,680,993 | $ | 2,367 | $ | 82,723 | $ | 51,132 | $ | (5,094) | $ | 3,402 | $ | 134,530 | December 31, 2020 | 5,680,993 | $ | 2,367 | $ | 82,723 | $ | 51,132 | $ | (5,094) | $ | 3,402 | $ | 134,530 | ||||||||||||||||||
Comprehensive Income: | Comprehensive Income: | Comprehensive Income: | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | — | — | — | 2,622 | — | — | 2,622 | Net Income | — | — | — | 4,605 | — | — | 4,605 | ||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | — | — | — | — | — | (1,693) | (1,693) | Other Comprehensive Loss | — | — | — | — | — | (2,268) | (2,268) | ||||||||||||||||||||||||||||||
Restricted Stock Awards Forfeited | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Restricted Stock Awards Granted | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation Expense | Stock-Based Compensation Expense | — | — | 246 | — | — | — | 246 | Stock-Based Compensation Expense | — | — | 415 | — | — | — | 415 | ||||||||||||||||||||||||||||||
Exercise of Stock Options | Exercise of Stock Options | — | — | — | — | — | — | — | Exercise of Stock Options | — | — | (8) | — | 62 | — | 54 | ||||||||||||||||||||||||||||||
Treasury Stock Purchased, at cost (25,297 shares) | — | — | — | — | (561) | — | (561) | |||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.48 Per Share) | — | — | — | (2,608) | — | — | (2,608) | |||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 5,680,993 | $ | 2,367 | $ | 82,969 | $ | 51,146 | $ | (5,655) | $ | 1,709 | $ | 132,536 | |||||||||||||||||||||||||||||||||
Treasury Stock Purchased, at cost (106,973 shares) | Treasury Stock Purchased, at cost (106,973 shares) | — | — | — | — | (2,451) | — | (2,451) | ||||||||||||||||||||||||||||||||||||||
Dividends Paid ($0.72 Per Share) | Dividends Paid ($0.72 Per Share) | — | — | — | (3,898) | — | — | (3,898) | ||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | 5,680,993 | $ | 2,367 | $ | 83,130 | $ | 51,839 | $ | (7,483) | $ | 1,134 | $ | 130,987 |
Six Months Ended June 30, | 2022 | 2021 | ||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | 2022 | 2021 | |||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||
Net Income | Net Income | $ | 3,165 | $ | 2,622 | Net Income | $ | 7,094 | $ | 4,605 | ||||||||||||
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | ||||||||||||||||||||
Net Amortization on Securities | Net Amortization on Securities | 36 | 32 | Net Amortization on Securities | 48 | 38 | ||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 1,282 | 1,256 | Depreciation and Amortization | 1,997 | 1,810 | ||||||||||||||||
Provision (Recovery) for Loan Losses | Provision (Recovery) for Loan Losses | 3,784 | (1,200) | Provision (Recovery) for Loan Losses | 3,784 | (1,200) | ||||||||||||||||
Intangible Asset Impairment | Intangible Asset Impairment | — | 1,178 | Intangible Asset Impairment | — | 1,178 | ||||||||||||||||
Writedown on Fixed Assets | Writedown on Fixed Assets | — | 2,268 | Writedown on Fixed Assets | — | 2,270 | ||||||||||||||||
Lease Impairment | Lease Impairment | — | 227 | Lease Impairment | — | 227 | ||||||||||||||||
Loss (Gain) on Securities | Loss (Gain) on Securities | 206 | (458) | Loss (Gain) on Securities | 252 | (482) | ||||||||||||||||
Gain on Purchased Tax Credits | Gain on Purchased Tax Credits | (28) | (35) | Gain on Purchased Tax Credits | (43) | (53) | ||||||||||||||||
Income from Bank-Owned Life Insurance | Income from Bank-Owned Life Insurance | (278) | (273) | Income from Bank-Owned Life Insurance | (418) | (411) | ||||||||||||||||
Proceeds From Mortgage Loans Sold | Proceeds From Mortgage Loans Sold | — | 3,916 | Proceeds From Mortgage Loans Sold | — | 8,182 | ||||||||||||||||
Originations of Mortgage Loans for Sale | Originations of Mortgage Loans for Sale | — | (9,134) | Originations of Mortgage Loans for Sale | — | (15,289) | ||||||||||||||||
Gain on Sale of Loans | Gain on Sale of Loans | — | (117) | Gain on Sale of Loans | — | (166) | ||||||||||||||||
Gain on Sale of Other Real Estate Owned and Repossessed Assets | Gain on Sale of Other Real Estate Owned and Repossessed Assets | (1) | — | Gain on Sale of Other Real Estate Owned and Repossessed Assets | (1) | (76) | ||||||||||||||||
Noncash Expense for Stock-Based Compensation | Noncash Expense for Stock-Based Compensation | 279 | 246 | Noncash Expense for Stock-Based Compensation | 424 | 415 | ||||||||||||||||
Decrease in Accrued Interest Receivable | 36 | 266 | ||||||||||||||||||||
Net Loss on Disposal of Fixed Assets | 8 | 3 | ||||||||||||||||||||
Decrease (Increase) in Taxes Payable | (2,462) | 247 | ||||||||||||||||||||
Payments on Operating Leases | — | (170) | ||||||||||||||||||||
Decrease in Accrued Interest Payable | (42) | (146) | ||||||||||||||||||||
(Increase) Decrease in Accrued Interest Receivable | (Increase) Decrease in Accrued Interest Receivable | (59) | 517 | |||||||||||||||||||
Net (Gain) Loss on Disposal of Fixed Assets | Net (Gain) Loss on Disposal of Fixed Assets | (431) | 3 | |||||||||||||||||||
(Increase) Decrease in Taxes Payable | (Increase) Decrease in Taxes Payable | (947) | 295 | |||||||||||||||||||
Increase (Decrease) in Accrued Interest Payable | Increase (Decrease) in Accrued Interest Payable | 29 | (277) | |||||||||||||||||||
Refund of Federal and State Income Taxes | Refund of Federal and State Income Taxes | — | 1,311 | Refund of Federal and State Income Taxes | — | 1,311 | ||||||||||||||||
Other, Net | Other, Net | (725) | (11) | Other, Net | (2,679) | (319) | ||||||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | NET CASH PROVIDED BY OPERATING ACTIVITIES | 5,260 | 2,028 | NET CASH PROVIDED BY OPERATING ACTIVITIES | 9,050 | 2,578 | ||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||
Investment Securities Available for Sale: | Investment Securities Available for Sale: | Investment Securities Available for Sale: | ||||||||||||||||||||
Proceeds From Principal Repayments and Maturities | Proceeds From Principal Repayments and Maturities | 17,021 | 20,412 | Proceeds From Principal Repayments and Maturities | 24,869 | 29,563 | ||||||||||||||||
Purchases of Securities | Purchases of Securities | (26,826) | (97,142) | Purchases of Securities | (26,826) | (119,924) | ||||||||||||||||
Proceeds from Sale of Securities | Proceeds from Sale of Securities | — | 11,930 | Proceeds from Sale of Securities | — | 11,967 | ||||||||||||||||
Net (Increase) Decrease in Loans | Net (Increase) Decrease in Loans | (9,576) | 31,497 | Net (Increase) Decrease in Loans | (24,480) | 33,378 | ||||||||||||||||
Purchase of Premises and Equipment | Purchase of Premises and Equipment | (262) | (2,240) | Purchase of Premises and Equipment | (470) | (2,275) | ||||||||||||||||
Proceeds from Disposal of Premises and Equipment | Proceeds from Disposal of Premises and Equipment | 480 | — | |||||||||||||||||||
Proceeds From Sale of Other Real Estate Owned | Proceeds From Sale of Other Real Estate Owned | 37 | — | Proceeds From Sale of Other Real Estate Owned | 37 | 285 | ||||||||||||||||
Decrease in Restricted Equity Securities | Decrease in Restricted Equity Securities | 599 | 243 | Decrease in Restricted Equity Securities | 619 | 533 | ||||||||||||||||
NET CASH USED IN INVESTING ACTIVITIES | NET CASH USED IN INVESTING ACTIVITIES | (19,007) | (35,300) | NET CASH USED IN INVESTING ACTIVITIES | (25,771) | (46,473) | ||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||
Net (Decrease) Increase in Deposits | (11,423) | 41,489 | ||||||||||||||||||||
Net Increase in Deposits | Net Increase in Deposits | 49,221 | 52,542 | |||||||||||||||||||
Net (Decrease) Increase in Short-Term Borrowings | Net (Decrease) Increase in Short-Term Borrowings | (7,088) | 8,051 | Net (Decrease) Increase in Short-Term Borrowings | (21,158) | 12,260 | ||||||||||||||||
Principal Payments on Other Borrowed Funds | Principal Payments on Other Borrowed Funds | — | (2,000) | Principal Payments on Other Borrowed Funds | — | (2,000) | ||||||||||||||||
Cash Dividends Paid | Cash Dividends Paid | (2,474) | (2,608) | Cash Dividends Paid | (3,698) | (3,898) | ||||||||||||||||
Treasury Stock, Purchases at Cost | Treasury Stock, Purchases at Cost | (3,988) | (561) | Treasury Stock, Purchases at Cost | (4,682) | (2,451) | ||||||||||||||||
Exercise of Stock Options | Exercise of Stock Options | 167 | — | Exercise of Stock Options | 165 | 54 | ||||||||||||||||
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (24,806) | 44,371 | ||||||||||||||||||||
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (38,553) | 11,099 | ||||||||||||||||||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | NET CASH PROVIDED BY FINANCING ACTIVITIES | 19,848 | 56,507 | |||||||||||||||||||
INCREASE IN CASH AND CASH EQUIVALENTS | INCREASE IN CASH AND CASH EQUIVALENTS | 3,127 | 12,612 | |||||||||||||||||||
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 119,674 | 160,911 | CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 119,674 | 160,911 | ||||||||||||||||
CASH AND DUE FROM BANKS AT END OF PERIOD | CASH AND DUE FROM BANKS AT END OF PERIOD | $ | 81,121 | $ | 172,010 | CASH AND DUE FROM BANKS AT END OF PERIOD | $ | 122,801 | $ | 173,523 |
Six Months Ended June 30, 2022 | 2022 | 2021 | ||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | 2022 | 2021 | |||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||
SUPPLEMENTAL CASH FLOW INFORMATION: | SUPPLEMENTAL CASH FLOW INFORMATION: | SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||||||||||||||
Cash Paid For: | Cash Paid For: | Cash Paid For: | ||||||||||||||||||||
Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $1,166 and $1,916, Respectively) | $ | 1,560 | $ | 2,044 | ||||||||||||||||||
Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $2,322 and $2,761, Respectively) | Interest on Deposits and Borrowings (Including Interest Credited to Deposits of $2,322 and $2,761, Respectively) | $ | 2,764 | $ | 2,951 | |||||||||||||||||
Income Taxes | Income Taxes | 2,832 | 1,160 | Income Taxes | 3,247 | 1,524 | ||||||||||||||||
SUPPLEMENTAL NONCASH DISCLOSURE: | SUPPLEMENTAL NONCASH DISCLOSURE: | SUPPLEMENTAL NONCASH DISCLOSURE: | ||||||||||||||||||||
Transfer of Loans to Loans Held for Sale | Transfer of Loans to Loans Held for Sale | — | 11,409 | Transfer of Loans to Loans Held for Sale | — | 10,056 | ||||||||||||||||
Transfer of Premises and Equipment to Premises and Equipment Held for Sale and Other Assets | Transfer of Premises and Equipment to Premises and Equipment Held for Sale and Other Assets | — | 1,075 | Transfer of Premises and Equipment to Premises and Equipment Held for Sale and Other Assets | — | 1,075 | ||||||||||||||||
Transfer of Deposits to Deposits Held for Sale | Transfer of Deposits to Deposits Held for Sale | — | 102,557 | Transfer of Deposits to Deposits Held for Sale | — | 102,647 | ||||||||||||||||
Other Real Estate Acquired in Settlement of Loans | Other Real Estate Acquired in Settlement of Loans | — | 37 | |||||||||||||||||||
Right of Use Asset Recognized | Right of Use Asset Recognized | 1,284 | — | Right of Use Asset Recognized | 1,284 | — | ||||||||||||||||
Lease Liability Recognized | Lease Liability Recognized | 1,284 | — | Lease Liability Recognized | 1,284 | — |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||||||||||||||
Net Income (Loss) | $ | 118 | $ | (223) | $ | 3,165 | $ | 2,622 | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 3,929 | $ | 1,983 | $ | 7,094 | $ | 4,605 | |||||||||||||||||||||||||
Weighted-Average Basic Common Shares Outstanding | Weighted-Average Basic Common Shares Outstanding | 5,147,846 | 5,432,234 | 5,172,881 | 5,433,298 | Weighted-Average Basic Common Shares Outstanding | 5,106,861 | 5,373,032 | 5,150,632 | 5,412,989 | ||||||||||||||||||||||||
Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) | Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) | 9,129 | — | 16,263 | 5,103 | Dilutive Effect of Common Stock Equivalents (Stock Options and Restricted Stock) | 11,766 | 17,096 | 14,744 | 7,803 | ||||||||||||||||||||||||
Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding | Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding | 5,156,975 | 5,432,234 | 5,189,144 | 5,438,401 | Weighted-Average Diluted Common Shares and Common Stock Equivalents Outstanding | 5,118,627 | 5,390,128 | 5,165,376 | 5,420,792 | ||||||||||||||||||||||||
Earnings (Loss) Per Share: | ||||||||||||||||||||||||||||||||||
Earnings Per Share: | Earnings Per Share: | |||||||||||||||||||||||||||||||||
Basic | Basic | $ | 0.02 | $ | (0.04) | $ | 0.61 | $ | 0.48 | Basic | $ | 0.77 | $ | 0.37 | $ | 1.38 | $ | 0.85 | ||||||||||||||||
Diluted | Diluted | 0.02 | (0.04) | 0.61 | 0.48 | Diluted | 0.77 | 0.37 | 1.37 | 0.85 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||
Stock Options | Stock Options | 156,118 | 216,662 | 156,118 | 201,662 | Stock Options | 149,367 | 71,741 | 149,367 | 199,641 | ||||||||||||||||||||||||
Restricted Stock | Restricted Stock | 37,940 | 76,070 | 37,940 | 33,610 | Restricted Stock | 36,490 | 23,000 | 37,490 | 32,360 |
June 30, 2022 | ||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||
(Dollars in thousands) | ||||||||||||||
Available-for-Sale Debt Securities: | ||||||||||||||
U.S. Government Agencies | $ | 53,992 | $ | — | $ | (6,938) | $ | 47,054 | ||||||
Obligations of States and Political Subdivisions | 16,219 | 69 | (207) | 16,081 | ||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 50,088 | 21 | (3,086) | 47,023 | ||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | 103,279 | 1 | (11,443) | 91,837 | ||||||||||
Corporate Debt | 9,481 | — | (631) | 8,850 | ||||||||||
Total Available-for-Sale Debt Securities | 233,059 | 91 | (22,305) | 210,845 | ||||||||||
Equity Securities: | ||||||||||||||
Mutual Funds | 912 | |||||||||||||
Other | 1,748 | |||||||||||||
Total Equity Securities | 2,660 | |||||||||||||
Total Securities | $ | 213,505 |
December 31, 2021 | September 30, 2022 | |||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Available-for-Sale Debt Securities: | Available-for-Sale Debt Securities: | Available-for-Sale Debt Securities: | ||||||||||||||||||||||||||
U.S. Government Agencies | U.S. Government Agencies | $ | 53,992 | $ | 2 | $ | (1,433) | $ | 52,561 | U.S. Government Agencies | $ | 53,993 | $ | — | $ | (9,646) | $ | 44,347 | ||||||||||
Obligations of States and Political Subdivisions | Obligations of States and Political Subdivisions | 17,951 | 1,004 | — | 18,955 | Obligations of States and Political Subdivisions | 14,053 | — | (920) | 13,133 | ||||||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | Mortgage-Backed Securities - Government-Sponsored Enterprises | 55,373 | 1,468 | (282) | 56,559 | Mortgage-Backed Securities - Government-Sponsored Enterprises | 48,045 | — | (5,559) | 42,486 | ||||||||||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 88,493 | 164 | (2,074) | 86,583 | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 99,623 | — | (16,807) | 82,816 | ||||||||||||||||||
Corporate Debt | Corporate Debt | 7,481 | — | (31) | 7,450 | Corporate Debt | 9,485 | — | (1,035) | 8,450 | ||||||||||||||||||
Total Available-for-Sale Debt Securities | Total Available-for-Sale Debt Securities | 223,290 | 2,638 | (3,820) | 222,108 | Total Available-for-Sale Debt Securities | 225,199 | — | (33,967) | 191,232 | ||||||||||||||||||
Equity Securities: | Equity Securities: | Equity Securities: | ||||||||||||||||||||||||||
Mutual Funds | Mutual Funds | 990 | Mutual Funds | 873 | ||||||||||||||||||||||||
Other | Other | 1,876 | Other | 1,741 | ||||||||||||||||||||||||
Total Equity Securities | Total Equity Securities | 2,866 | Total Equity Securities | 2,614 | ||||||||||||||||||||||||
Total Securities | Total Securities | $ | 224,974 | Total Securities | $ | 193,846 |
December 31, 2021 | ||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||
(Dollars in thousands) | ||||||||||||||
Available-for-Sale Debt Securities: | ||||||||||||||
U.S. Government Agencies | $ | 53,992 | $ | 2 | $ | (1,433) | $ | 52,561 | ||||||
Obligations of States and Political Subdivisions | 17,951 | 1,004 | — | 18,955 | ||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 55,373 | 1,468 | (282) | 56,559 | ||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | 88,493 | 164 | (2,074) | 86,583 | ||||||||||
Corporate Debt | 7,481 | — | (31) | 7,450 | ||||||||||
Total Available-for-Sale Debt Securities | 223,290 | 2,638 | (3,820) | 222,108 | ||||||||||
Equity Securities: | ||||||||||||||
Mutual Funds | 990 | |||||||||||||
Other | 1,876 | |||||||||||||
Total Equity Securities | 2,866 | |||||||||||||
Total Securities | $ | 224,974 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Government Agencies | U.S. Government Agencies | 3 | $ | 10,806 | $ | (1,191) | 10 | $ | 36,248 | $ | (5,747) | 13 | $ | 47,054 | $ | (6,938) | U.S. Government Agencies | 1 | $ | 2,576 | $ | (424) | 12 | $ | 41,771 | $ | (9,222) | 13 | $ | 44,347 | $ | (9,646) | ||||||||||||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | Obligations of States and Political Subdivisions | 26 | 11,210 | (207) | — | — | — | 26 | 11,210 | (207) | Obligations of States and Political Subdivisions | 34 | 13,133 | (920) | — | — | — | 34 | 13,133 | (920) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage Backed Securities- Government Sponsored Enterprises | Mortgage Backed Securities- Government Sponsored Enterprises | 30 | 36,095 | (2,627) | 1 | 3,147 | (459) | 31 | 39,242 | (3,086) | Mortgage Backed Securities- Government Sponsored Enterprises | 38 | 29,578 | (3,166) | 4 | 12,908 | (2,393) | 42 | 42,486 | (5,559) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 20 | 91,648 | (11,443) | — | — | — | 20 | 91,648 | (11,443) | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 16 | 46,959 | (9,451) | 6 | 35,857 | (7,356) | 22 | 82,816 | (16,807) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 3 | 8,850 | (631) | — | — | — | 3 | 8,850 | (631) | Corporate Debt | 2 | 3,850 | (675) | 1 | 4,600 | (360) | 3 | 8,450 | (1,035) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | 82 | $ | 158,609 | $ | (16,099) | 11 | $ | 39,395 | $ | (6,206) | 93 | $ | 198,004 | $ | (22,305) | Total | 91 | $ | 96,096 | $ | (14,636) | 23 | $ | 95,136 | $ | (19,331) | 114 | $ | 191,232 | $ | (33,967) |
December 31, 2021 | |||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||
Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
U.S. Government Agencies | 5 | $ | 17,729 | $ | (269) | 7 | $ | 31,830 | $ | (1,164) | 12 | $ | 49,559 | $ | (1,433) | ||||||||||||||||||||
Obligations of States and Political Subdivisions | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Mortgage Backed Securities- Government Sponsored Enterprises | 8 | 28,772 | (282) | — | — | — | 8 | 28,772 | (282) | ||||||||||||||||||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | 10 | 77,560 | (2,074) | — | — | — | 10 | 77,560 | (2,074) | ||||||||||||||||||||||||||
Corporate Debt | 2 | 7,450 | (31) | — | — | — | 2 | 7,450 | (31) | ||||||||||||||||||||||||||
Total | 25 | $ | 131,511 | $ | (2,656) | 7 | $ | 31,830 | $ | (1,164) | 32 | $ | 163,341 | $ | (3,820) |
June 30, 2022 | September 30, 2022 | |||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||
Due in One Year or Less | Due in One Year or Less | $ | 1,095 | $ | 1,099 | Due in One Year or Less | $ | 245 | $ | 244 | ||||||
Due after One Year through Five Years | Due after One Year through Five Years | 10,557 | 9,706 | Due after One Year through Five Years | 10,477 | 9,211 | ||||||||||
Due after Five Years through Ten Years | Due after Five Years through Ten Years | 74,036 | 67,103 | Due after Five Years through Ten Years | 72,745 | 62,072 | ||||||||||
Due after Ten Years | Due after Ten Years | 147,371 | 132,937 | Due after Ten Years | 141,732 | 119,705 | ||||||||||
Total | Total | $ | 233,059 | $ | 210,845 | Total | $ | 225,199 | $ | 191,232 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Debt Securities | |||||||||||||||||
Gross Realized Gain | $ | — | $ | — | $ | — | $ | 225 | |||||||||
Gross Realized Loss | — | — | — | — | |||||||||||||
Net Gain on Debt Securities | $ | — | $ | — | $ | — | $ | 225 | |||||||||
Equity Securities | |||||||||||||||||
Net Unrealized (Loss) Gain Recognized on Securities Held | $ | (199) | $ | 11 | $ | (206) | $ | 233 | |||||||||
Net Realized Gain Recognized on Securities Sold | 0 | — | — | — | |||||||||||||
Net (Loss) Gain on Equity Securities | $ | (199) | $ | 11 | $ | (206) | $ | 233 | |||||||||
Net (Loss) Gain on Securities | $ | (199) | $ | 11 | $ | (206) | $ | 458 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Debt Securities | |||||||||||||||||
Gross Realized Gain | $ | — | $ | — | $ | — | $ | 225 | |||||||||
Gross Realized Loss | — | — | — | — | |||||||||||||
Net Gain on Debt Securities | $ | — | $ | — | $ | — | $ | 225 | |||||||||
Equity Securities | |||||||||||||||||
Net Unrealized (Loss) Gain Recognized on Securities Held | $ | (46) | $ | 18 | $ | (252) | $ | 251 | |||||||||
Net Realized Gain Recognized on Securities Sold | — | 6 | — | 6 | |||||||||||||
Net (Loss) Gain on Equity Securities | $ | (46) | $ | 24 | $ | (252) | $ | 257 | |||||||||
Net (Loss) Gain on Securities | $ | (46) | $ | 24 | $ | (252) | $ | 482 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||
Residential | Residential | $ | 325,138 | 31.6 | % | $ | 320,798 | 31.4 | % | Residential | $ | 328,248 | 31.5 | % | $ | 320,798 | 31.4 | % | ||||||||||
Commercial | Commercial | 426,105 | 41.5 | 392,124 | 38.5 | Commercial | 432,516 | 41.5 | 392,124 | 38.5 | ||||||||||||||||||
Construction | Construction | 41,277 | 4.0 | 85,028 | 8.3 | Construction | 49,502 | 4.7 | 85,028 | 8.3 | ||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 65,907 | 6.4 | 89,010 | 8.7 | Commercial and Industrial | 62,196 | 6.0 | 89,010 | 8.7 | ||||||||||||||||||
Consumer | Consumer | 148,921 | 14.5 | 122,152 | 12.0 | Consumer | 150,615 | 14.4 | 122,152 | 12.0 | ||||||||||||||||||
Other | Other | 20,621 | 2.0 | 11,684 | 1.1 | Other | 19,865 | 1.9 | 11,684 | 1.1 | ||||||||||||||||||
Total Loans | Total Loans | 1,027,969 | 100.0 | % | 1,020,796 | 100.0 | % | Total Loans | 1,042,942 | 100.0 | % | 1,020,796 | 100.0 | % | ||||||||||||||
Allowance for Loan Losses | Allowance for Loan Losses | (12,833) | (11,582) | Allowance for Loan Losses | (12,854) | (11,582) | ||||||||||||||||||||||
Loans, Net | Loans, Net | $ | 1,015,136 | $ | 1,009,214 | Loans, Net | $ | 1,030,088 | $ | 1,009,214 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||
(Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||||||||
Residential | Residential | $ | 322,442 | $ | 771 | $ | 1,925 | $ | — | $ | 325,138 | Residential | $ | 325,702 | $ | 344 | $ | 2,202 | $ | — | $ | 328,248 | ||||||||||||
Commercial | Commercial | 382,048 | 32,284 | 11,773 | — | 426,105 | Commercial | 386,294 | 34,743 | 11,479 | — | 432,516 | ||||||||||||||||||||||
Construction | Construction | 35,974 | 4,971 | 332 | — | 41,277 | Construction | 48,065 | 1,109 | 328 | — | 49,502 | ||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 52,573 | 12,754 | 117 | 463 | 65,907 | Commercial and Industrial | 52,765 | 8,897 | 95 | 439 | 62,196 | ||||||||||||||||||||||
Consumer | Consumer | 148,841 | — | 80 | — | 148,921 | Consumer | 150,502 | — | 113 | — | 150,615 | ||||||||||||||||||||||
Other | Other | 20,559 | 62 | — | — | 20,621 | Other | 19,805 | 60 | — | — | 19,865 | ||||||||||||||||||||||
Total Loans | Total Loans | $ | 962,437 | $ | 50,842 | $ | 14,227 | $ | 463 | $ | 1,027,969 | Total Loans | $ | 983,133 | $ | 45,153 | $ | 14,217 | $ | 439 | $ | 1,042,942 |
December 31, 2021 | |||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Real Estate: | |||||||||||||||||
Residential | $ | 317,964 | $ | 845 | $ | 1,989 | $ | — | $ | 320,798 | |||||||
Commercial | 355,895 | 27,168 | 9,061 | — | 392,124 | ||||||||||||
Construction | 69,441 | 13,035 | 2,552 | — | 85,028 | ||||||||||||
Commercial and Industrial | 72,584 | 14,463 | 1,451 | 512 | 89,010 | ||||||||||||
Consumer | 122,136 | — | 16 | — | 122,152 | ||||||||||||
Other | 11,616 | 68 | — | — | 11,684 | ||||||||||||
Total Loans | $ | 949,636 | $ | 55,579 | $ | 15,069 | $ | 512 | $ | 1,020,796 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Loans Current | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days Or More Past Due | Total Past Due | Non- Accrual | Total Loans | Loans Current | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days Or More Past Due | Total Past Due | Non- Accrual | Total Loans | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | $ | 323,350 | $ | 311 | $ | 135 | $ | — | $ | 446 | $ | 1,342 | $ | 325,138 | Residential | $ | 326,527 | $ | 99 | $ | — | $ | — | $ | 99 | $ | 1,622 | $ | 328,248 | ||||||||||||||||
Commercial | Commercial | 424,098 | 15 | — | — | 15 | 1,992 | 426,105 | Commercial | 430,569 | 91 | — | — | 91 | 1,856 | 432,516 | ||||||||||||||||||||||||||||||
Construction | Construction | 41,277 | — | — | — | — | — | 41,277 | Construction | 49,502 | — | — | — | — | — | 49,502 | ||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 65,417 | 9 | — | — | 9 | 481 | 65,907 | Commercial and Industrial | 61,599 | 19 | 139 | — | 158 | 439 | 62,196 | ||||||||||||||||||||||||||||||
Consumer | Consumer | 148,536 | 269 | 36 | — | 305 | 80 | 148,921 | Consumer | 150,071 | 365 | 66 | — | 431 | 113 | 150,615 | ||||||||||||||||||||||||||||||
Other | Other | 20,621 | — | — | — | — | — | 20,621 | Other | 19,865 | — | — | — | — | — | 19,865 | ||||||||||||||||||||||||||||||
Total Loans | Total Loans | $ | 1,023,299 | $ | 604 | $ | 171 | $ | — | $ | 775 | $ | 3,895 | $ | 1,027,969 | Total Loans | $ | 1,038,133 | $ | 574 | $ | 205 | $ | — | $ | 779 | $ | 4,030 | $ | 1,042,942 |
December 31, 2021 | |||||||||||||||||||||||
Loans Current | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days Or More Past Due | Total Past Due | Non- Accrual | Total Loans | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||
Residential | $ | 317,583 | $ | 1,805 | $ | 17 | $ | — | $ | 1,822 | $ | 1,393 | $ | 320,798 | |||||||||
Commercial | 389,522 | 544 | — | — | 544 | 2,058 | 392,124 | ||||||||||||||||
Construction | 85,028 | — | — | — | — | — | 85,028 | ||||||||||||||||
Commercial and Industrial | 87,407 | 107 | — | — | 107 | 1,496 | 89,010 | ||||||||||||||||
Consumer | 121,636 | 419 | 81 | — | 500 | 16 | 122,152 | ||||||||||||||||
Other | 11,684 | — | — | — | — | — | 11,684 | ||||||||||||||||
Total Loans | $ | 1,012,860 | $ | 2,875 | $ | 98 | $ | — | $ | 2,973 | $ | 4,963 | $ | 1,020,796 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||
(Dollars in Thousands) | (Dollars in Thousands) | (Dollars in Thousands) | ||||||||||||||
Nonaccrual Loans: | Nonaccrual Loans: | Nonaccrual Loans: | ||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||
Residential | Residential | $ | 1,342 | $ | 1,393 | Residential | $ | 1,622 | $ | 1,393 | ||||||
Commercial | Commercial | 1,992 | 2,058 | Commercial | 1,856 | 2,058 | ||||||||||
Construction | — | — | ||||||||||||||
Commercial and Industrial | Commercial and Industrial | 481 | 1,496 | Commercial and Industrial | 439 | 1,496 | ||||||||||
Consumer | Consumer | 80 | 16 | Consumer | 113 | 16 | ||||||||||
Total Nonaccrual Loans | Total Nonaccrual Loans | 3,895 | 4,963 | Total Nonaccrual Loans | 4,030 | 4,963 | ||||||||||
Accruing Loans Past Due 90 Days or More: | Accruing Loans Past Due 90 Days or More: | Accruing Loans Past Due 90 Days or More: | ||||||||||||||
Consumer | — | — | ||||||||||||||
Total Accruing Loans Past Due 90 Days or More | Total Accruing Loans Past Due 90 Days or More | — | — | Total Accruing Loans Past Due 90 Days or More | — | — | ||||||||||
Total Nonaccrual Loans and Accruing Loans Past Due 90 Days or More | Total Nonaccrual Loans and Accruing Loans Past Due 90 Days or More | 3,895 | 4,963 | Total Nonaccrual Loans and Accruing Loans Past Due 90 Days or More | 4,030 | 4,963 | ||||||||||
Troubled Debt Restructurings, Accruing: | Troubled Debt Restructurings, Accruing: | Troubled Debt Restructurings, Accruing: | ||||||||||||||
Real Estate | Real Estate | Real Estate | ||||||||||||||
Residential | Residential | 593 | 613 | Residential | 544 | 613 | ||||||||||
Commercial | Commercial | 1,337 | 1,674 | Commercial | 1,297 | 1,674 | ||||||||||
Commercial and Industrial | Commercial and Industrial | 11 | 16 | Commercial and Industrial | 9 | 16 | ||||||||||
Total Troubled Debt Restructurings, Accruing | Total Troubled Debt Restructurings, Accruing | 1,941 | 2,303 | Total Troubled Debt Restructurings, Accruing | 1,850 | 2,303 | ||||||||||
Total Nonperforming Loans | Total Nonperforming Loans | 5,836 | 7,266 | Total Nonperforming Loans | 5,880 | 7,266 | ||||||||||
Other Real Estate Owned: | Other Real Estate Owned: | Other Real Estate Owned: | ||||||||||||||
Residential | Residential | — | 36 | Residential | — | 36 | ||||||||||
Commercial | — | — | ||||||||||||||
Total Other Real Estate Owned | Total Other Real Estate Owned | — | 36 | Total Other Real Estate Owned | — | 36 | ||||||||||
Total Nonperforming Assets | Total Nonperforming Assets | $ | 5,836 | $ | 7,302 | Total Nonperforming Assets | $ | 5,880 | $ | 7,302 | ||||||
Nonperforming Loans to Total Loans | Nonperforming Loans to Total Loans | 0.57 | % | 0.71 | % | Nonperforming Loans to Total Loans | 0.56 | % | 0.71 | % | ||||||
Nonperforming Assets to Total Assets | Nonperforming Assets to Total Assets | 0.42 | 0.51 | Nonperforming Assets to Total Assets | 0.41 | 0.51 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended | Year to Date | Quarter Ended | Year to Date | |||||||||||||||||||||||||||||||||||||||||||
Recorded Investment | Related Allowance | Unpaid Principal Balance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Recorded Investment | Related Allowance | Unpaid Principal Balance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | With No Related Allowance Recorded: | With No Related Allowance Recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | $ | 1,105 | $ | 1,109 | $ | 1,111 | $ | 12 | $ | 1,117 | $ | 23 | Residential | $ | 1,053 | $ | 1,058 | $ | 1,057 | $ | 14 | $ | 1,110 | $ | 37 | ||||||||||||||||||||
Commercial | Commercial | 11,447 | 11,560 | 11,539 | 156 | 10,411 | 228 | Commercial | 11,140 | 11,255 | 11,254 | 121 | 10,681 | 289 | ||||||||||||||||||||||||||||||||
Construction | Construction | 332 | 332 | 436 | 11 | 2,141 | 38 | Construction | 328 | 328 | 331 | 5 | 430 | 13 | ||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 128 | 134 | 136 | 25 | 1,032 | 30 | Commercial and Industrial | 104 | 104 | 115 | 2 | 906 | 47 | ||||||||||||||||||||||||||||||||
Total With No Related Allowance Recorded | Total With No Related Allowance Recorded | $ | 13,012 | $ | — | $ | 13,135 | $ | 13,222 | $ | 204 | $ | 14,701 | $ | 319 | Total With No Related Allowance Recorded | $ | 12,625 | $ | — | $ | 12,745 | $ | 12,757 | $ | 142 | $ | 13,127 | $ | 386 | ||||||||||||||||
With A Related Allowance Recorded: | With A Related Allowance Recorded: | With A Related Allowance Recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Commercial | Commercial | 1,662 | 86 | 1,662 | 1,676 | 11 | 2,817 | 11 | Commercial | 1,636 | 68 | 1,636 | 1,644 | 35 | 733 | 47 | ||||||||||||||||||||||||||||||
Construction | Construction | — | — | — | — | — | — | — | Construction | — | 146 | — | — | — | 1,106 | 36 | ||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 463 | 244 | 718 | 476 | 17 | 488 | 19 | Commercial and Industrial | 439 | — | 703 | 447 | — | 242 | 1 | ||||||||||||||||||||||||||||||
Total With A Related Allowance Recorded | Total With A Related Allowance Recorded | $ | 2,125 | $ | 330 | $ | 2,380 | $ | 2,152 | $ | 28 | $ | 3,305 | $ | 30 | Total With A Related Allowance Recorded | $ | 2,075 | $ | 214 | $ | 2,339 | $ | 2,091 | $ | 35 | $ | 2,081 | $ | 84 | ||||||||||||||||
Total Impaired Loans: | Total Impaired Loans: | Total Impaired Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | $ | 1,105 | $ | — | $ | 1,109 | $ | 1,111 | $ | 12 | $ | 1,117 | $ | 23 | Residential | $ | 1,053 | $ | — | $ | 1,058 | $ | 1,057 | $ | 14 | $ | 1,110 | $ | 37 | ||||||||||||||||
Commercial | Commercial | 13,109 | 86 | 13,222 | 13,215 | 167 | 13,228 | 239 | Commercial | 12,776 | 68 | 12,891 | 12,898 | 156 | 11,414 | 336 | ||||||||||||||||||||||||||||||
Construction | Construction | 332 | — | 332 | 436 | 11 | 2,141 | 38 | Construction | 328 | 146 | 328 | 331 | 5 | 1,536 | 49 | ||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | 591 | 244 | 852 | 612 | 42 | 1,520 | 49 | Commercial and Industrial | 543 | — | 807 | 562 | 2 | 1,148 | 48 | ||||||||||||||||||||||||||||||
Total Impaired Loans | Total Impaired Loans | $ | 15,137 | $ | 330 | $ | 15,515 | $ | 15,374 | $ | 232 | $ | 18,006 | $ | 349 | Total Impaired Loans | $ | 14,700 | $ | 214 | $ | 15,084 | $ | 14,848 | $ | 177 | $ | 15,208 | $ | 470 |
December 31, 2021 | |||||||||||||||||
Recorded Investment | Related Allowance | Unpaid Principal Balance | Average Recorded Investment | Interest Income Recognized | |||||||||||||
(Dollars in thousands) | |||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||
Real Estate: | |||||||||||||||||
Residential | $ | 1,133 | $ | 1,137 | $ | 1,158 | $ | 46 | |||||||||
Commercial | 9,733 | 9,787 | 27,207 | 927 | |||||||||||||
Construction | 540 | 540 | 887 | 34 | |||||||||||||
Commercial and Industrial | 1,979 | 2,286 | 3,230 | 49 | |||||||||||||
Total With No Related Allowance Recorded | $ | 13,385 | $ | — | $ | 13,750 | $ | 32,482 | $ | 1,056 | |||||||
With A Related Allowance Recorded: | |||||||||||||||||
Real Estate: | |||||||||||||||||
Residential | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||
Commercial | 266 | 195 | 266 | 421 | 19 | ||||||||||||
Construction | 2,013 | 104 | 2,013 | 169 | 7 | ||||||||||||
Commercial and Industrial | — | — | — | 1,316 | 29 | ||||||||||||
Total With A Related Allowance Recorded | $ | 2,279 | $ | 299 | $ | 2,279 | $ | 1,906 | $ | 55 | |||||||
Total Impaired Loans | |||||||||||||||||
Real Estate: | |||||||||||||||||
Residential | $ | 1,133 | $ | — | $ | 1,137 | $ | 1,158 | $ | 46 | |||||||
Commercial | 9,999 | 195 | 10,053 | 27,628 | 946 | ||||||||||||
Construction | 2,553 | 104 | 2,553 | 1,056 | 41 | ||||||||||||
Commercial and Industrial | 1,979 | — | 2,286 | 4,546 | 78 | ||||||||||||
Total Impaired Loans | $ | 15,664 | $ | 299 | $ | 16,029 | $ | 34,388 | $ | 1,111 |
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2022 | $ | 1,472 | $ | 6,326 | $ | 704 | $ | 1,130 | $ | 1,292 | $ | — | $ | 671 | $ | 11,595 | ||||||||||||||||||||||||||||||||||||
June 30, 2022 | June 30, 2022 | $ | 1,654 | $ | 6,023 | $ | 471 | $ | 2,349 | $ | 1,502 | $ | — | $ | 834 | $ | 12,833 | |||||||||||||||||||||||||||||||||||
Charge-offs | Charge-offs | (15) | 0 | (2,712) | (20) | 0 | (2,747) | Charge-offs | — | — | — | — | (46) | — | — | (46) | ||||||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 126 | 0 | 57 | 18 | 0 | 201 | Recoveries | 16 | — | — | 38 | 13 | — | — | 67 | ||||||||||||||||||||||||||||||||||||
Provision (Recovery) | Provision (Recovery) | 71 | (303) | (233) | 3,874 | 212 | 0 | 163 | 3,784 | Provision (Recovery) | 148 | (24) | 94 | (211) | 89 | — | (96) | — | ||||||||||||||||||||||||||||||||||
June 30, 2022 | $ | 1,654 | $ | 6,023 | $ | 471 | $ | 2,349 | $ | 1,502 | $ | — | $ | 834 | $ | 12,833 | ||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | $ | 1,818 | $ | 5,999 | $ | 565 | $ | 2,176 | $ | 1,558 | $ | — | $ | 738 | $ | 12,854 |
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | $ | 1,420 | $ | 5,960 | $ | 1,249 | $ | 1,151 | $ | 1,050 | $ | — | $ | 752 | $ | 11,582 | December 31, 2021 | $ | 1,420 | $ | 5,960 | $ | 1,249 | $ | 1,151 | $ | 1,050 | $ | — | $ | 752 | $ | 11,582 | ||||||||||||||||||
Charge-offs | Charge-offs | (32) | 0 | (2,712) | (40) | 0 | (2,784) | Charge-offs | (33) | — | — | (2,712) | (85) | — | — | (2,830) | ||||||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 128 | 0 | 68 | 55 | 0 | 251 | Recoveries | 143 | — | — | 106 | 69 | — | — | 318 | ||||||||||||||||||||||||||||||||||||
Provision (Recovery) | Provision (Recovery) | 138 | 63 | (778) | 3,842 | 437 | 0 | 82 | 3,784 | Provision (Recovery) | 288 | 39 | (684) | 3,631 | 524 | — | (14) | 3,784 | ||||||||||||||||||||||||||||||||||
June 30, 2022 | $ | 1,654 | $ | 6,023 | $ | 471 | $ | 2,349 | $ | 1,502 | $ | — | $ | 834 | $ | 12,833 | ||||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | $ | 1,818 | $ | 5,999 | $ | 565 | $ | 2,176 | $ | 1,558 | $ | — | $ | 738 | $ | 12,854 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | Individually Evaluated for Impairment | $ | — | $ | 86 | $ | — | $ | 244 | $ | — | $ | — | $ | — | $ | 330 | Individually Evaluated for Impairment | $ | — | $ | 68 | $ | 146 | $ | — | $ | — | $ | — | $ | — | $ | 214 | ||||||||||||||||||
Collectively Evaluated for Potential Impairment | Collectively Evaluated for Potential Impairment | $ | 1,654 | $ | 5,937 | $ | 471 | $ | 2,105 | $ | 1,502 | $ | — | $ | 834 | $ | 12,503 | Collectively Evaluated for Potential Impairment | $ | 1,818 | $ | 5,931 | $ | 419 | $ | 2,176 | $ | 1,558 | $ | — | $ | 738 | $ | 12,640 |
December 31, 2021 | ||||||||||||||||||||||||||
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | — | $ | 195 | $ | 104 | $ | — | $ | — | $ | — | $ | — | $ | 299 | ||||||||||
Collectively Evaluated for Potential Impairment | $ | 1,420 | $ | 5,765 | $ | 1,145 | $ | 1,151 | $ | 1,050 | $ | — | $ | 752 | $ | 11,283 |
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | $ | 1,975 | $ | 5,917 | $ | 939 | $ | 1,543 | $ | 1,103 | $ | — | $ | 1,248 | $ | 12,725 | ||||||||||||||||||||||||||||||||||||
June 30, 2021 | June 30, 2021 | $ | 1,588 | $ | 5,582 | $ | 1,136 | $ | 1,152 | $ | 941 | $ | — | $ | 1,145 | $ | 11,544 | |||||||||||||||||||||||||||||||||||
Charge-offs | Charge-offs | — | — | — | — | (25) | — | — | (25) | Charge-offs | — | — | — | — | (19) | — | — | (19) | ||||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 4 | — | — | 10 | 30 | — | — | 44 | Recoveries | 2 | — | — | 11 | 43 | — | — | 56 | ||||||||||||||||||||||||||||||||||
Provision (Recovery) | (391) | (335) | 197 | (401) | (167) | — | (103) | (1,200) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | $ | 1,588 | $ | 5,582 | $ | 1,136 | $ | 1,152 | $ | 941 | $ | — | $ | 1,145 | $ | 11,544 | ||||||||||||||||||||||||||||||||||||
(Recovery) Provision | (Recovery) Provision | (98) | 347 | (71) | (21) | (12) | — | (145) | — | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | $ | 1,492 | $ | 5,929 | $ | 1,065 | $ | 1,142 | $ | 953 | $ | — | $ | 1,000 | $ | 11,581 |
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | $ | 2,249 | $ | 6,010 | $ | 889 | $ | 1,423 | $ | 1,283 | $ | — | $ | 917 | $ | 12,771 | December 31, 2020 | $ | 2,249 | $ | 6,010 | $ | 889 | $ | 1,423 | $ | 1,283 | $ | — | $ | 917 | $ | 12,771 | ||||||||||||||||||
Charge-offs | Charge-offs | — | — | — | — | (120) | — | — | (120) | Charge-offs | — | — | — | — | (139) | — | — | (139) | ||||||||||||||||||||||||||||||||||
Recoveries | Recoveries | 13 | — | — | 22 | 58 | — | — | 93 | Recoveries | 15 | — | — | 33 | 101 | — | — | 149 | ||||||||||||||||||||||||||||||||||
Provision (Recovery) | (674) | (428) | 247 | (293) | (280) | — | 228 | (1,200) | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | $ | 1,588 | $ | 5,582 | $ | 1,136 | $ | 1,152 | $ | 941 | $ | — | $ | 1,145 | $ | 11,544 | ||||||||||||||||||||||||||||||||||||
(Recovery) Provision | (Recovery) Provision | (772) | (81) | 176 | (314) | (292) | — | 83 | (1,200) | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | $ | 1,492 | $ | 5,929 | $ | 1,065 | $ | 1,142 | $ | 953 | $ | — | $ | 1,000 | $ | 11,581 |
June 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | Individually Evaluated for Impairment | $ | — | $ | 261 | $ | — | $ | 62 | $ | — | $ | — | $ | — | $ | 323 | Individually Evaluated for Impairment | $ | — | $ | 199 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 199 | ||||||||||||||||||
Collectively Evaluated for Potential Impairment | Collectively Evaluated for Potential Impairment | $ | 1,588 | $ | 5,321 | $ | 1,136 | $ | 1,090 | $ | 941 | $ | — | $ | 1,145 | $ | 11,221 | Collectively Evaluated for Potential Impairment | $ | 1,492 | $ | 5,730 | $ | 1,065 | $ | 1,142 | $ | 953 | $ | — | $ | 1,000 | $ | 11,382 |
June 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Total | Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | Individually Evaluated for Impairment | $ | 1,105 | $ | 13,109 | $ | 332 | $ | 591 | $ | — | $ | — | $ | 15,137 | Individually Evaluated for Impairment | $ | 1,053 | $ | 12,776 | $ | 328 | $ | 543 | $ | — | $ | — | $ | 14,700 | ||||||||||||||||
Collectively Evaluated for Potential Impairment | Collectively Evaluated for Potential Impairment | 324,033 | 412,996 | 40,945 | 65,316 | 148,921 | 20,621 | 1,012,832 | Collectively Evaluated for Potential Impairment | 327,195 | 419,740 | 49,174 | 61,653 | 150,615 | 19,865 | 1,028,242 | ||||||||||||||||||||||||||||||
Total Loans | Total Loans | $ | 325,138 | $ | 426,105 | $ | 41,277 | $ | 65,907 | $ | 148,921 | $ | 20,621 | $ | 1,027,969 | Total Loans | $ | 328,248 | $ | 432,516 | $ | 49,502 | $ | 62,196 | $ | 150,615 | $ | 19,865 | $ | 1,042,942 |
December 31, 2021 | |||||||||||||||||||||||
Real Estate Residential | Real Estate Commercial | Real Estate Construction | Commercial and Industrial | Consumer | Other | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 1,133 | $ | 9,999 | $ | 2,553 | $ | 1,979 | $ | — | $ | — | $ | 15,664 | |||||||||
Collectively Evaluated for Potential Impairment | 319,665 | 382,125 | 82,475 | 87,031 | 122,152 | 11,684 | 1,005,132 | ||||||||||||||||
Total Loans | $ | 320,798 | $ | 392,124 | $ | 85,028 | $ | 89,010 | $ | 122,152 | $ | 11,684 | $ | 1,020,796 |
Accretable Discount | |||||
(Dollars in Thousands) | |||||
December 31, 2021 | $ | 726 | |||
Accretable Yield | |||||
$ |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||
Amount | Weighted Average Rate | Amount | Weighted Average Rate | Amount | Weighted Average Rate | Amount | Weighted Average Rate | |||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||
Securities Sold Under Agreements to Repurchase: | Securities Sold Under Agreements to Repurchase: | Securities Sold Under Agreements to Repurchase: | ||||||||||||||||||||||||||||||||
Balance at Period End | Balance at Period End | $ | 32,178 | 0.26 | % | $ | 39,266 | 0.17 | % | Balance at Period End | $ | 18,108 | 0.57 | % | $ | 39,266 | 0.17 | % | ||||||||||||||||
Average Balance Outstanding During the Period | Average Balance Outstanding During the Period | 36,000 | 0.21 | 43,988 | 0.22 | Average Balance Outstanding During the Period | 33,581 | 0.22 | 43,988 | 0.22 | ||||||||||||||||||||||||
Maximum Amount Outstanding at any Month End | Maximum Amount Outstanding at any Month End | 39,219 | 52,777 | Maximum Amount Outstanding at any Month End | 39,219 | 52,777 | ||||||||||||||||||||||||||||
Securities Collaterizing the Agreements at Period-End: | Securities Collaterizing the Agreements at Period-End: | Securities Collaterizing the Agreements at Period-End: | ||||||||||||||||||||||||||||||||
Carrying Value | Carrying Value | 57,934 | 59,867 | Carrying Value | 39,280 | 59,867 | ||||||||||||||||||||||||||||
Market Value | Market Value | 51,898 | 59,339 | Market Value | 33,584 | 59,339 |
Fair Value Hierarchy | June 30 2022 | December 31 2021 | Fair Value Hierarchy | September 30 2022 | December 31 2021 | |||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||
Securities: | Securities: | Securities: | ||||||||||||||||||||
Available-for-Sale Debt Securities | Available-for-Sale Debt Securities | Available-for-Sale Debt Securities | ||||||||||||||||||||
U.S. Government Agencies | U.S. Government Agencies | Level 2 | $ | 47,054 | $ | 52,561 | U.S. Government Agencies | Level 2 | $ | 44,347 | $ | 52,561 | ||||||||||
Obligations of States and Political Subdivisions | Obligations of States and Political Subdivisions | Level 2 | 16,081 | 18,955 | Obligations of States and Political Subdivisions | Level 2 | 13,133 | 18,955 | ||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | Mortgage-Backed Securities - Government-Sponsored Enterprises | Level 2 | 47,023 | 56,559 | Mortgage-Backed Securities - Government-Sponsored Enterprises | Level 2 | 42,486 | 56,559 | ||||||||||||||
Collateralized Mortgage Obligations - Government Sponsored Enterprises | Collateralized Mortgage Obligations - Government Sponsored Enterprises | Level 2 | 91,837 | 86,583 | Collateralized Mortgage Obligations - Government Sponsored Enterprises | Level 2 | 82,816 | 86,583 | ||||||||||||||
Corporate Debt | Corporate Debt | Level 2 | 8,850 | 7,450 | Corporate Debt | Level 2 | 8,450 | 7,450 | ||||||||||||||
Total Available-for-Sale Debt Securities | Total Available-for-Sale Debt Securities | 210,845 | 222,108 | Total Available-for-Sale Debt Securities | 191,232 | 222,108 | ||||||||||||||||
Equity Securities | Equity Securities | Equity Securities | ||||||||||||||||||||
Mutual Funds | Mutual Funds | Level 1 | 912 | 990 | Mutual Funds | Level 1 | 873 | 990 | ||||||||||||||
Other | Other | Level 1 | 1,748 | 1,876 | Other | Level 1 | 1,741 | 1,876 | ||||||||||||||
Total Equity Securities | Total Equity Securities | 2,660 | 2,866 | Total Equity Securities | 2,614 | 2,866 | ||||||||||||||||
Total Securities | Total Securities | $ | 213,505 | $ | 224,974 | Total Securities | $ | 193,846 | $ | 224,974 |
Financial Asset | Financial Asset | Fair Value Hierarchy | June 30, 2022 | Valuation Techniques | Significant Unobservable Inputs | Range | Weighted Average | Financial Asset | Fair Value Hierarchy | September 30, 2022 | Valuation Techniques | Significant Unobservable Inputs | Range | Weighted Average | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans Individually Assessed | Impaired Loans Individually Assessed | Level 3 | $ | 1,795 | Appraisal of Collateral (1) | Appraisal Adjustments (2) | 0 | % | to | 50 | % | 16.5% | Impaired Loans Individually Assessed | Level 3 | $ | 1,861 | Appraisal of Collateral (1) | Appraisal Adjustments (2) | 0 | % | to | 50 | % | 13.3% |
Financial Asset | Financial Asset | Fair Value Hierarchy | December 31, 2021 | Valuation Techniques | Significant Unobservable Inputs | Range | Weighted Average | Financial Asset | Fair Value Hierarchy | December 31, 2021 | Valuation Techniques | Significant Unobservable Inputs | Range | Weighted Average | ||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans Individually Assessed | Impaired Loans Individually Assessed | Level 3 | $ | 1,980 | Appraisal of Collateral (1) | Appraisal Adjustments (2) | 0 | % | to | 50 | % | 15.8% | Impaired Loans Individually Assessed | Level 3 | $ | 1,980 | Appraisal of Collateral (1) | Appraisal Adjustments (2) | 0 | % | to | 50 | % | 15.8% | ||||||||||||||||||||||||||||
Mortgage Servicing Rights | Mortgage Servicing Rights | Level 3 | 141 | Discounted Cash Flow | Discount Rate | 9 | % | to | 11 | % | 10.2% | Mortgage Servicing Rights | Level 3 | 141 | Discounted Cash Flow | Discount Rate | 9 | % | to | 11 | % | 10.1% | ||||||||||||||||||||||||||||||
Prepayment Speed | 12 | % | to | 27 | % | 16.0% | Prepayment Speed | 6 | % | to | 36 | % | 7.5% | |||||||||||||||||||||||||||||||||||||||
OREO | OREO | Level 3 | 36 | Appraisal of Collateral (1) | Liquidation Expenses (2) | 10 | % | to | 30 | % | 26.6% | OREO | Level 3 | 36 | Appraisal of Collateral (1) | Liquidation Expenses (2) | 10 | % | to | 30 | % | 26.6% |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy | Carrying Value | Fair Value | Carrying Value | Fair Value | Fair Value Hierarchy | Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||
Financial Assets: | Financial Assets: | Financial Assets: | ||||||||||||||||||||||||||||||||||||||
Cash and Due From Banks: | Cash and Due From Banks: | Cash and Due From Banks: | ||||||||||||||||||||||||||||||||||||||
Interest Bearing | Interest Bearing | Level 1 | $ | 49,961 | $ | 49,961 | $ | 63,968 | $ | 63,968 | Interest Bearing | Level 1 | $ | 99,949 | $ | 99,949 | $ | 63,968 | $ | 63,968 | ||||||||||||||||||||
Non-Interest Bearing | Non-Interest Bearing | Level 1 | 31,160 | 31,160 | 55,706 | 55,706 | Non-Interest Bearing | Level 1 | 22,852 | 22,852 | 55,706 | 55,706 | ||||||||||||||||||||||||||||
Securities | Securities | See Above | 213,505 | 213,505 | 224,974 | 224,974 | Securities | See Above | 193,846 | 193,846 | 224,974 | 224,974 | ||||||||||||||||||||||||||||
Loans, Net | Loans, Net | Level 3 | 1,015,136 | 994,753 | 1,009,214 | 1,039,980 | Loans, Net | Level 3 | 1,030,088 | 1,002,426 | 1,009,214 | 1,039,980 | ||||||||||||||||||||||||||||
Restricted Stock | Restricted Stock | Level 2 | 2,804 | 2,804 | 3,403 | 3,403 | Restricted Stock | Level 2 | 2,784 | 2,784 | 3,403 | 3,403 | ||||||||||||||||||||||||||||
Mortgage Servicing Rights | Mortgage Servicing Rights | Level 3 | 683 | 982 | 730 | 773 | Mortgage Servicing Rights | Level 3 | 658 | 1,019 | 730 | 773 | ||||||||||||||||||||||||||||
Accrued Interest Receivable | Accrued Interest Receivable | Level 2 | 3,314 | 3,314 | 3,350 | 3,350 | Accrued Interest Receivable | Level 2 | 3,409 | 3,409 | 3,350 | 3,350 | ||||||||||||||||||||||||||||
Financial Liabilities: | Financial Liabilities: | Financial Liabilities: | ||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | Level 2 | 1,215,190 | 1,212,509 | 1,226,613 | 1,227,653 | Deposits | Level 2 | 1,275,834 | 1,272,403 | 1,226,613 | 1,227,653 | ||||||||||||||||||||||||||||
Short-Term Borrowings | Short-Term Borrowings | Level 2 | 32,178 | 32,167 | 39,266 | 39,266 | Short-Term Borrowings | Level 2 | 18,108 | 18,099 | 39,266 | 39,266 | ||||||||||||||||||||||||||||
Other Borrowed Funds | Other Borrowed Funds | Other Borrowed Funds | ||||||||||||||||||||||||||||||||||||||
FHLB Borrowings | FHLB Borrowings | Level 2 | 3,000 | 3,000 | 3,000 | 3,000 | FHLB Borrowings | Level 2 | 3,000 | 3,000 | 3,000 | 3,000 | ||||||||||||||||||||||||||||
Subordinated Debt | Subordinated Debt | Level 2 | 14,618 | 13,947 | 14,601 | 15,000 | Subordinated Debt | Level 2 | 14,627 | 13,490 | 14,601 | 15,000 | ||||||||||||||||||||||||||||
Accrued Interest Payable | Accrued Interest Payable | Level 2 | 444 | 444 | 486 | 486 | Accrued Interest Payable | Level 2 | 515 | 515 | 486 | 486 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||
Standby Letters of Credit | Standby Letters of Credit | $ | 110 | $ | 110 | Standby Letters of Credit | $ | 110 | $ | 110 | ||||||
Performance Letters of Credit | Performance Letters of Credit | 1,675 | 2,873 | Performance Letters of Credit | 1,657 | 2,873 | ||||||||||
Construction Mortgages | Construction Mortgages | 43,650 | 55,597 | Construction Mortgages | 39,631 | 55,597 | ||||||||||
Personal Lines of Credit | Personal Lines of Credit | 7,101 | 7,055 | Personal Lines of Credit | 6,992 | 7,055 | ||||||||||
Overdraft Protection Lines | Overdraft Protection Lines | 5,484 | 5,709 | Overdraft Protection Lines | 5,402 | 5,709 | ||||||||||
Home Equity Lines of Credit | Home Equity Lines of Credit | 22,999 | 21,187 | Home Equity Lines of Credit | 23,526 | 21,187 | ||||||||||
Commercial Lines of Credit | Commercial Lines of Credit | 78,929 | 83,316 | Commercial Lines of Credit | 65,443 | 83,316 | ||||||||||
Total Commitments | Total Commitments | $ | 159,948 | $ | 175,847 | Total Commitments | $ | 142,761 | $ | 175,847 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Operating Lease Expense | Operating Lease Expense | $ | 89 | $ | 88 | $ | 171 | $ | 183 | Operating Lease Expense | $ | 89 | $ | 74 | $ | 261 | $ | 257 | ||||||||||
Short-Term Lease Expense | Short-Term Lease Expense | 1 | 9 | 1 | 17 | Short-Term Lease Expense | — | 8 | — | 25 | ||||||||||||||||||
Variable Lease Expense | Variable Lease Expense | 7 | 8 | 14 | 16 | Variable Lease Expense | 7 | 8 | 21 | 24 | ||||||||||||||||||
Total Lease Expense | Total Lease Expense | $ | 97 | $ | 105 | $ | 186 | $ | 216 | Total Lease Expense | $ | 96 | $ | 90 | $ | 282 | $ | 306 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||
Operating Leases: | Operating Leases: | Operating Leases: | ||||||||||||||
ROU Assets | ROU Assets | $ | 1,807 | $ | 674 | ROU Assets | $ | 1,730 | $ | 674 | ||||||
Weighted Average Lease Term in Years | Weighted Average Lease Term in Years | 8.77 | 7.33 | Weighted Average Lease Term in Years | 8.71 | 7.33 | ||||||||||
Weighted Average Discount Rate | Weighted Average Discount Rate | 2.56 | % | 2.51 | % | Weighted Average Discount Rate | 2.58 | % | 2.51 | % |
2022 | |||||
(Dollars in thousands) | |||||
Maturity Analysis: | |||||
Due in One Year | $ | ||||
Due After One Year to Two Years | |||||
Due After Two Years to Three Years | |||||
Due After Three Years to Four Years | |||||
Due After Four to Five Years | |||||
Due After Five Years | |||||
Total | $ | ||||
Less: Present Value Discount | |||||
Lease Liabilities | $ |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Non-Employee Compensation | Non-Employee Compensation | $ | 139 | $ | 141 | $ | 270 | $ | 290 | Non-Employee Compensation | $ | 139 | $ | 184 | $ | 410 | $ | 473 | ||||||||||
Printing and Supplies | Printing and Supplies | 46 | 65 | 127 | 164 | Printing and Supplies | 63 | 55 | 190 | 218 | ||||||||||||||||||
Postage | Postage | 33 | 115 | 137 | 178 | Postage | 163 | 86 | 300 | 265 | ||||||||||||||||||
Telephone | Telephone | 119 | 140 | 258 | 328 | Telephone | 132 | 145 | 390 | 472 | ||||||||||||||||||
Charitable Contributions | Charitable Contributions | 39 | 21 | 80 | 35 | Charitable Contributions | 39 | 45 | 120 | 80 | ||||||||||||||||||
Dues and Subscriptions | Dues and Subscriptions | 39 | 37 | 97 | 88 | Dues and Subscriptions | 24 | 33 | 121 | 121 | ||||||||||||||||||
Loan Expenses | Loan Expenses | 124 | 110 | 250 | 202 | Loan Expenses | 209 | 86 | 459 | 288 | ||||||||||||||||||
Meals and Entertainment | Meals and Entertainment | 38 | 26 | 68 | 60 | Meals and Entertainment | 33 | 31 | 101 | 91 | ||||||||||||||||||
Travel | Travel | 34 | 28 | 73 | 50 | Travel | 43 | 27 | 116 | 77 | ||||||||||||||||||
Training | Training | 13 | 7 | 31 | 24 | Training | 10 | 5 | 41 | 29 | ||||||||||||||||||
Bank Assessment | Bank Assessment | 47 | 44 | 94 | 88 | Bank Assessment | 47 | 46 | 141 | 134 | ||||||||||||||||||
Insurance | Insurance | 69 | 59 | 131 | 119 | Insurance | 70 | 54 | 201 | 173 | ||||||||||||||||||
Miscellaneous | Miscellaneous | 98 | 152 | 221 | 301 | Miscellaneous | 91 | 106 | 309 | 409 | ||||||||||||||||||
Total Other Noninterest Expense | Total Other Noninterest Expense | $ | 838 | $ | 945 | $ | 1,837 | $ | 1,927 | Total Other Noninterest Expense | $ | 1,063 | $ | 903 | $ | 2,899 | $ | 2,830 |
Community Bank | Exchange Underwriters, Inc. | CB Financial Services, Inc. | Net Eliminations | Consolidated | Community Bank | Exchange Underwriters, Inc. | CB Financial Services, Inc. | Net Eliminations | Consolidated | |||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||
June 30, 2022 | ||||||||||||||||||||||||||||||||||
September 30, 2022 | September 30, 2022 | |||||||||||||||||||||||||||||||||
Assets | Assets | $ | 1,385,888 | $ | 4,782 | $ | 128,432 | $ | (132,641) | $ | 1,386,461 | Assets | $ | 1,425,905 | $ | 5,173 | $ | 121,522 | $ | (126,680) | $ | 1,425,920 | ||||||||||||
Liabilities | Liabilities | 1,275,170 | 1,674 | 14,660 | (18,815) | 1,272,689 | Liabilities | 1,321,603 | 1,835 | 14,815 | (19,039) | 1,319,214 | ||||||||||||||||||||||
Stockholders' Equity | Stockholders' Equity | 110,718 | 3,108 | 113,772 | (113,826) | 113,772 | Stockholders' Equity | 104,302 | 3,338 | 106,707 | (107,641) | 106,706 | ||||||||||||||||||||||
December 31, 2021 | December 31, 2021 | December 31, 2021 | ||||||||||||||||||||||||||||||||
Assets | Assets | $ | 1,425,588 | $ | 5,110 | $ | 147,829 | $ | (153,048) | $ | 1,425,479 | Assets | $ | 1,425,588 | $ | 5,110 | $ | 147,829 | $ | (153,048) | $ | 1,425,479 | ||||||||||||
Liabilities | Liabilities | 1,299,325 | 1,731 | 14,705 | (23,406) | 1,292,355 | Liabilities | 1,299,325 | 1,731 | 14,705 | (23,406) | 1,292,355 | ||||||||||||||||||||||
Stockholders' Equity | Stockholders' Equity | 126,263 | 3,379 | 133,124 | (129,642) | 133,124 | Stockholders' Equity | 126,263 | 3,379 | 133,124 | (129,642) | 133,124 | ||||||||||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||
Interest and Dividend Income | Interest and Dividend Income | $ | 10,940 | $ | 2 | $ | 1,255 | $ | (1,239) | $ | 10,958 | Interest and Dividend Income | $ | 12,267 | $ | 1 | $ | 1,246 | $ | (1,227) | $ | 12,287 | ||||||||||||
Interest Expense | Interest Expense | 640 | — | 155 | — | 795 | Interest Expense | 1,117 | — | 155 | — | 1,272 | ||||||||||||||||||||||
Net Interest and Dividend Income | Net Interest and Dividend Income | 10,300 | 2 | 1,100 | (1,239) | 10,163 | Net Interest and Dividend Income | 11,150 | 1 | 1,091 | (1,227) | 11,015 | ||||||||||||||||||||||
Provision for Loan Losses | Provision for Loan Losses | 3,784 | — | — | — | 3,784 | Provision for Loan Losses | — | — | — | — | — | ||||||||||||||||||||||
Net Interest and Dividend Income After Provision for Loan Losses | Net Interest and Dividend Income After Provision for Loan Losses | 6,516 | 2 | 1,100 | (1,239) | 6,379 | Net Interest and Dividend Income After Provision for Loan Losses | 11,150 | 1 | 1,091 | (1,227) | 11,015 | ||||||||||||||||||||||
Noninterest Income (Loss) | Noninterest Income (Loss) | 903 | 1,369 | (167) | — | 2,105 | Noninterest Income (Loss) | 1,343 | 1,406 | (10) | — | 2,739 | ||||||||||||||||||||||
Noninterest Expense | Noninterest Expense | 7,420 | 985 | 5 | — | 8,410 | Noninterest Expense | 7,741 | 1,082 | 4 | — | 8,827 | ||||||||||||||||||||||
Undistributed Net Income (Loss) of Subsidiary | Undistributed Net Income (Loss) of Subsidiary | 273 | — | (897) | 624 | — | Undistributed Net Income (Loss) of Subsidiary | 230 | — | 2,807 | (3,037) | — | ||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) | Income Before Income Tax Expense (Benefit) | 272 | 386 | 31 | (615) | 74 | Income Before Income Tax Expense (Benefit) | 4,982 | 325 | 3,884 | (4,264) | 4,927 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (70) | 113 | (87) | — | (44) | Income Tax Expense (Benefit) | 948 | 95 | (45) | — | 998 | ||||||||||||||||||||||
Net Income (Loss) | $ | 342 | $ | 273 | $ | 118 | $ | (615) | $ | 118 | ||||||||||||||||||||||||
Net Income | Net Income | $ | 4,034 | $ | 230 | $ | 3,929 | $ | (4,264) | $ | 3,929 | |||||||||||||||||||||||
Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||
Interest and Dividend Income | Interest and Dividend Income | $ | 21,535 | $ | 3 | $ | 2,534 | $ | (2,498) | $ | 21,574 | Interest and Dividend Income | $ | 33,802 | $ | 4 | $ | 3,779 | $ | (3,724) | $ | 33,861 | ||||||||||||
Interest Expense | Interest Expense | 1,208 | — | 310 | — | 1,518 | Interest Expense | 2,325 | — | 467 | — | 2,792 | ||||||||||||||||||||||
Net Interest and Dividend Income | Net Interest and Dividend Income | 20,327 | 3 | 2,224 | (2,498) | 20,056 | Net Interest and Dividend Income | 31,477 | 4 | 3,312 | (3,724) | 31,069 | ||||||||||||||||||||||
Provision for Loan Losses | Provision for Loan Losses | 3,784 | — | — | — | 3,784 | Provision for Loan Losses | 3,784 | — | — | — | 3,784 | ||||||||||||||||||||||
Net Interest and Dividend Income After Provision for Loan Losses | Net Interest and Dividend Income After Provision for Loan Losses | 16,543 | 3 | 2,224 | (2,498) | 16,272 | Net Interest and Dividend Income After Provision for Loan Losses | 27,693 | 4 | 3,312 | (3,724) | 27,285 | ||||||||||||||||||||||
Noninterest Income (Loss) | Noninterest Income (Loss) | 1,680 | 3,166 | (128) | — | 4,718 | Noninterest Income (Loss) | 3,023 | 4,572 | (136) | — | 7,459 | ||||||||||||||||||||||
Noninterest Expense | Noninterest Expense | 15,065 | 1,992 | 9 | — | 17,066 | Noninterest Expense | 22,806 | 3,074 | 13 | — | 25,893 | ||||||||||||||||||||||
Undistributed Net Income of Subsidiary | Undistributed Net Income of Subsidiary | 834 | — | 955 | (1,789) | — | Undistributed Net Income of Subsidiary | 1,064 | — | 3,762 | (4,826) | — | ||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) | Income Before Income Tax Expense (Benefit) | 3,992 | 1,177 | 3,042 | (4,287) | 3,924 | Income Before Income Tax Expense (Benefit) | 8,974 | 1,502 | 6,925 | (8,550) | 8,851 | ||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 540 | 343 | (124) | — | 759 | Income Tax Expense (Benefit) | 1,488 | 438 | (169) | — | 1,757 | ||||||||||||||||||||||
Net Income (Loss) | $ | 3,452 | $ | 834 | $ | 3,166 | $ | (4,287) | $ | 3,165 | ||||||||||||||||||||||||
Net Income | Net Income | $ | 7,486 | $ | 1,064 | $ | 7,094 | $ | (8,550) | $ | 7,094 |
Community Bank | Exchange Underwriters, Inc. | CB Financial Services, Inc. | Net Eliminations | Consolidated | Community Bank | Exchange Underwriters, Inc. | CB Financial Services, Inc. | Net Eliminations | Consolidated | |||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||
Interest and Dividend Income | Interest and Dividend Income | $ | 10,798 | $ | 1 | $ | 5,825 | $ | (5,804) | $ | 10,820 | Interest and Dividend Income | $ | 10,768 | $ | 1 | $ | 1,311 | $ | (1,294) | $ | 10,786 | ||||||||||||
Interest Expense | Interest Expense | 886 | — | — | — | 886 | Interest Expense | 776 | — | — | — | 776 | ||||||||||||||||||||||
Net Interest and Dividend Income | Net Interest and Dividend Income | 9,912 | 1 | 5,825 | (5,804) | 9,934 | Net Interest and Dividend Income | 9,992 | 1 | 1,311 | (1,294) | 10,010 | ||||||||||||||||||||||
(Recovery) Provision for Loan Losses | (1,200) | — | — | — | (1,200) | |||||||||||||||||||||||||||||
Net Interest and Dividend Income After (Recovery) Provision for Loan Losses | 11,112 | 1 | 5,825 | (5,804) | 11,134 | |||||||||||||||||||||||||||||
Provision for Loan Losses | Provision for Loan Losses | — | — | — | — | — | ||||||||||||||||||||||||||||
Net Interest and Dividend Income After Provision for Loan Losses | Net Interest and Dividend Income After Provision for Loan Losses | 9,992 | 1 | 1,311 | (1,294) | 10,010 | ||||||||||||||||||||||||||||
Noninterest Income | Noninterest Income | 1,002 | 1,209 | 8 | — | 2,219 | Noninterest Income | 975 | 1,195 | 28 | — | 2,198 | ||||||||||||||||||||||
Noninterest Expense | Noninterest Expense | 12,757 | 962 | 3 | — | 13,722 | Noninterest Expense | 8,750 | 1,020 | 3 | — | 9,773 | ||||||||||||||||||||||
Undistributed Net Income (Loss) of Subsidiary | 177 | — | (6,050) | 5,873 | — | |||||||||||||||||||||||||||||
(Loss) Income Before Income Tax Expense (Benefit) | (466) | 248 | (220) | 69 | (369) | |||||||||||||||||||||||||||||
Income Tax (Benefit) Expense | (220) | 71 | 3 | — | (146) | |||||||||||||||||||||||||||||
Net (Loss) Income | $ | (246) | $ | 177 | $ | (223) | $ | 69 | $ | (223) | ||||||||||||||||||||||||
Undistributed Net Income of Subsidiary | Undistributed Net Income of Subsidiary | 124 | — | 654 | (778) | — | ||||||||||||||||||||||||||||
Income Before Income Tax Expense | Income Before Income Tax Expense | 2,341 | 176 | 1,990 | (2,072) | 2,435 | ||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 393 | 52 | 7 | — | 452 | ||||||||||||||||||||||||||||
Net Income | Net Income | $ | 1,948 | $ | 124 | $ | 1,983 | $ | (2,072) | $ | 1,983 | |||||||||||||||||||||||
Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||
Interest and Dividend Income | Interest and Dividend Income | $ | 21,768 | $ | 3 | $ | 7,145 | $ | (7,108) | $ | 21,808 | Interest and Dividend Income | $ | 32,536 | $ | 4 | $ | 8,456 | $ | (8,402) | $ | 32,594 | ||||||||||||
Interest Expense | Interest Expense | 1,897 | — | — | — | 1,897 | Interest Expense | 2,673 | — | — | — | 2,673 | ||||||||||||||||||||||
Net Interest and Dividend Income | Net Interest and Dividend Income | 19,871 | 3 | 7,145 | (7,108) | 19,911 | Net Interest and Dividend Income | 29,863 | 4 | 8,456 | (8,402) | 29,921 | ||||||||||||||||||||||
(Recovery) Provision for Loan Losses | (1,200) | — | — | — | (1,200) | |||||||||||||||||||||||||||||
Net Interest and Dividend Income After (Recovery) Provision for Loan Losses | 21,071 | 3 | 7,145 | (7,108) | 21,111 | |||||||||||||||||||||||||||||
(Recovery) for Loan Losses | (Recovery) for Loan Losses | (1,200) | — | — | — | (1,200) | ||||||||||||||||||||||||||||
Net Interest and Dividend Income After (Recovery) for Loan Losses | Net Interest and Dividend Income After (Recovery) for Loan Losses | 31,063 | 4 | 8,456 | (8,402) | 31,121 | ||||||||||||||||||||||||||||
Noninterest Income | Noninterest Income | 2,345 | 2,800 | 248 | — | 5,393 | Noninterest Income | 3,319 | 3,995 | 277 | — | 7,591 | ||||||||||||||||||||||
Noninterest Expense | Noninterest Expense | 21,147 | 1,964 | 6 | — | 23,117 | Noninterest Expense | 29,898 | 2,983 | 9 | — | 32,890 | ||||||||||||||||||||||
Undistributed Net Income (Loss) of Subsidiary | Undistributed Net Income (Loss) of Subsidiary | 585 | — | (4,750) | 4,165 | — | Undistributed Net Income (Loss) of Subsidiary | 710 | — | (4,096) | 3,386 | — | ||||||||||||||||||||||
Income Before Income Tax Expense | Income Before Income Tax Expense | 2,854 | 839 | 2,637 | (2,943) | 3,387 | Income Before Income Tax Expense | 5,194 | 1,016 | 4,628 | (5,016) | 5,822 | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 496 | 254 | 15 | — | 765 | Income Tax Expense | 888 | 306 | 23 | — | 1,217 | ||||||||||||||||||||||
Net Income (Loss) | $ | 2,358 | $ | 585 | $ | 2,622 | $ | (2,943) | $ | 2,622 | ||||||||||||||||||||||||
Net Income | Net Income | $ | 4,306 | $ | 710 | $ | 4,605 | $ | (5,016) | $ | 4,605 |
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life in Years | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life in Years | |||||||||||||||||
Outstanding Options at December 31, 2021 | Outstanding Options at December 31, 2021 | 207,641 | $ | 24.01 | 4.8 | Outstanding Options at December 31, 2021 | 207,641 | $ | 24.01 | 4.8 | ||||||||||||
Granted | Granted | 89,465 | 25.79 | Granted | 89,465 | 25.79 | ||||||||||||||||
Exercised | Exercised | (7,500) | 22.25 | Exercised | (12,500) | 22.25 | ||||||||||||||||
Forfeited | Forfeited | (3,088) | 26.87 | Forfeited | (12,858) | 26.43 | ||||||||||||||||
Outstanding Options at June 30, 2022 | 286,518 | $ | 24.58 | 5.4 | ||||||||||||||||||
Outstanding Options at September 30, 2022 | Outstanding Options at September 30, 2022 | 271,748 | $ | 24.56 | 5.4 | |||||||||||||||||
Exercisable Options at June 30, 2022 | 188,353 | $ | 24.33 | 3.6 | ||||||||||||||||||
Exercisable Options at September 30, 2022 | Exercisable Options at September 30, 2022 | 177,683 | $ | 24.32 | 3.6 | |||||||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Service Period in Years | Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Service Period in Years | |||||||||||||||||
Nonvested Options at June 30, 2022 | 98,165 | $ | 25.07 | 9.0 | ||||||||||||||||||
Nonvested Options at September 30, 2022 | Nonvested Options at September 30, 2022 | 94,065 | $ | 25.02 | 9.0 | |||||||||||||||||
Summary of Significant Assumptions for Newly Issued Stock Options | Summary of Significant Assumptions for Newly Issued Stock Options | Summary of Significant Assumptions for Newly Issued Stock Options | ||||||||||||||||||||
Expected Term in Years | Expected Term in Years | 6.5 | Expected Term in Years | 6.5 | ||||||||||||||||||
Expected Volatility | Expected Volatility | 28.7 | % | Expected Volatility | 28.7 | % | ||||||||||||||||
Expected Dividends | Expected Dividends | $ | 0.96 | Expected Dividends | $ | 0.96 | ||||||||||||||||
Risk Free Rate of Return | Risk Free Rate of Return | 1.60 | % | Risk Free Rate of Return | 1.60 | % | ||||||||||||||||
Weighted Average Grant Date Fair Value (per share) | Weighted Average Grant Date Fair Value (per share) | $ | 4.86 | Weighted Average Grant Date Fair Value (per share) | $ | 4.86 |
Number of Shares | Weighted Average Grant Date Fair Value Price | Weighted Average Remaining Service Period in Years | Number of Shares | Weighted Average Grant Date Fair Value Price | Weighted Average Remaining Service Period in Years | |||||||||||||||||
Nonvested Restricted Stock at December 31, 2021 | Nonvested Restricted Stock at December 31, 2021 | 56,140 | $ | 23.90 | 5.3 | Nonvested Restricted Stock at December 31, 2021 | 56,140 | $ | 23.90 | 5.3 | ||||||||||||
Granted | Granted | 21,765 | 26.07 | Granted | 21,765 | 26.07 | ||||||||||||||||
Vested | Vested | (120) | 23.60 | Vested | (1,120) | 19.14 | ||||||||||||||||
Forfeited | Forfeited | (2,325) | 23.80 | Forfeited | (3,715) | 24.01 | ||||||||||||||||
Nonvested Restricted Stock at June 30, 2022 | 75,460 | $ | 24.53 | 4.2 | ||||||||||||||||||
Nonvested Restricted Stock at September 30, 2022 | Nonvested Restricted Stock at September 30, 2022 | 73,070 | $ | 24.61 | 4.2 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
June 30, | September 30, | |||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Interest Income (GAAP) | Interest Income (GAAP) | $ | 10,958 | $ | 10,820 | $ | 21,574 | $ | 21,808 | Interest Income (GAAP) | $ | 12,287 | $ | 10,786 | $ | 33,861 | $ | 32,594 | ||||||||||
Adjustment to FTE Basis | Adjustment to FTE Basis | 34 | 43 | 71 | 89 | Adjustment to FTE Basis | 31 | 41 | 105 | 131 | ||||||||||||||||||
Interest Income (FTE) (Non-GAAP) | Interest Income (FTE) (Non-GAAP) | 10,992 | 10,863 | 21,645 | 21,897 | Interest Income (FTE) (Non-GAAP) | 12,318 | 10,827 | 33,966 | 32,725 | ||||||||||||||||||
Interest Expense (GAAP) | Interest Expense (GAAP) | 795 | 886 | 1,518 | 1,897 | Interest Expense (GAAP) | 1,272 | 776 | 2,792 | 2,673 | ||||||||||||||||||
Net Interest Income (FTE) (Non-GAAP) | Net Interest Income (FTE) (Non-GAAP) | $ | 10,197 | $ | 9,977 | $ | 20,127 | $ | 20,000 | Net Interest Income (FTE) (Non-GAAP) | $ | 11,046 | $ | 10,051 | $ | 31,174 | $ | 30,052 | ||||||||||
Net Interest Rate Spread (GAAP) | Net Interest Rate Spread (GAAP) | 3.00 | % | 2.72 | % | 3.00 | % | 2.81 | % | Net Interest Rate Spread (GAAP) | 3.10 | % | 2.77 | % | 3.03 | % | 2.80 | % | ||||||||||
Adjustment to FTE Basis | Adjustment to FTE Basis | 0.01 | 0.02 | 0.01 | 0.01 | Adjustment to FTE Basis | 0.01 | 0.01 | 0.01 | 0.01 | ||||||||||||||||||
Net Interest Rate Spread (FTE) (Non-GAAP) | Net Interest Rate Spread (FTE) (Non-GAAP) | 3.01 | 2.74 | 3.01 | 2.82 | Net Interest Rate Spread (FTE) (Non-GAAP) | 3.11 | 2.78 | 3.04 | 2.81 | ||||||||||||||||||
Net Interest Margin (GAAP) | Net Interest Margin (GAAP) | 3.12 | % | 2.84 | % | 3.10 | % | 2.94 | % | Net Interest Margin (GAAP) | 3.29 | % | 2.88 | % | 3.17 | % | 2.92 | % | ||||||||||
Adjustment to FTE Basis | Adjustment to FTE Basis | 0.01 | 0.01 | 0.01 | 0.01 | Adjustment to FTE Basis | 0.01 | 0.01 | 0.01 | 0.01 | ||||||||||||||||||
Net Interest Margin (FTE) (Non-GAAP) | Net Interest Margin (FTE) (Non-GAAP) | 3.13 | 2.85 | 3.11 | 2.95 | Net Interest Margin (FTE) (Non-GAAP) | 3.30 | 2.89 | 3.18 | 2.93 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||
Allowance for Loan Losses (Numerator) | Allowance for Loan Losses (Numerator) | $ | 12,833 | $ | 11,582 | Allowance for Loan Losses (Numerator) | $ | 12,854 | $ | 11,582 | ||||||||||||
Total Loans | Total Loans | 1,027,969 | $ | 1,020,796 | Total Loans | 1,042,942 | $ | 1,020,796 | ||||||||||||||
PPP Loans | PPP Loans | (3,853) | (24,523) | PPP Loans | (768) | (24,523) | ||||||||||||||||
Total Loans, Excluding PPP Loans (Non-GAAP) (Denominator) | Total Loans, Excluding PPP Loans (Non-GAAP) (Denominator) | $ | 1,024,116 | $ | 996,273 | Total Loans, Excluding PPP Loans (Non-GAAP) (Denominator) | $ | 1,042,174 | $ | 996,273 | ||||||||||||
Allowance for Loan Losses to Total Loans (GAAP) | Allowance for Loan Losses to Total Loans (GAAP) | 1.25 | % | 1.13 | % | Allowance for Loan Losses to Total Loans (GAAP) | 1.23 | % | 1.13 | % | ||||||||||||
Allowance for Loan Losses to Total Loans, Excluding PPP Loans (Non-GAAP) | Allowance for Loan Losses to Total Loans, Excluding PPP Loans (Non-GAAP) | 1.25 | % | 1.16 | % | Allowance for Loan Losses to Total Loans, Excluding PPP Loans (Non-GAAP) | 1.23 | % | 1.16 | % |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||
(Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | (Dollars in thousands, except share and per share data) | ||||||||||||||||||||
Stockholders' Equity (GAAP) | Stockholders' Equity (GAAP) | $ | 113,772 | $ | 133,124 | Stockholders' Equity (GAAP) | $ | 106,706 | $ | 133,124 | ||||||||||||
Goodwill and Other Intangible Assets, Net | Goodwill and Other Intangible Assets, Net | (14,136) | (15,027) | Goodwill and Other Intangible Assets, Net | (13,691) | (15,027) | ||||||||||||||||
Tangible Common Equity or Tangible Book Value (Non-GAAP) (Numerator) | Tangible Common Equity or Tangible Book Value (Non-GAAP) (Numerator) | $ | 99,636 | $ | 118,097 | Tangible Common Equity or Tangible Book Value (Non-GAAP) (Numerator) | $ | 93,015 | $ | 118,097 | ||||||||||||
Common Shares Outstanding (Denominator) | Common Shares Outstanding (Denominator) | 5,128,333 | 5,260,672 | Common Shares Outstanding (Denominator) | 5,096,672 | 5,260,672 | ||||||||||||||||
Book Value per Common Share (GAAP) | Book Value per Common Share (GAAP) | $ | 22.18 | $ | 25.31 | Book Value per Common Share (GAAP) | $ | 20.94 | $ | 25.31 | ||||||||||||
Tangible Book Value per Common Share (Non-GAAP) | Tangible Book Value per Common Share (Non-GAAP) | $ | 19.43 | $ | 22.45 | Tangible Book Value per Common Share (Non-GAAP) | $ | 18.25 | $ | 22.45 |
Three Months Ended June 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||
Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Earning Assets: | Interest-Earning Assets: | Interest-Earning Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Loans, Net (2) | Loans, Net (2) | $ | 1,007,874 | $ | 9,751 | 3.88 | % | $ | 1,016,868 | $ | 9,959 | 3.93 | % | Loans, Net (2) | $ | 1,024,363 | $ | 10,833 | 4.20 | % | $ | 1,004,474 | $ | 9,740 | 3.85 | % | ||||||||||||||||||||
Debt Securities | Debt Securities | Debt Securities | ||||||||||||||||||||||||||||||||||||||||||||
Taxable | Taxable | 228,315 | 988 | 1.73 | 124,685 | 635 | 2.04 | Taxable | 222,110 | 985 | 1.77 | 197,763 | 843 | 1.71 | ||||||||||||||||||||||||||||||||
Exempt From Federal Tax | Exempt From Federal Tax | 9,109 | 73 | 3.21 | 12,276 | 94 | 3.06 | Exempt From Federal Tax | 7,998 | 62 | 3.10 | 11,647 | 90 | 3.09 | ||||||||||||||||||||||||||||||||
Equity Securities | Equity Securities | 2,693 | 20 | 2.97 | 2,649 | 24 | 3.62 | Equity Securities | 2,693 | 21 | 3.12 | 2,655 | 19 | 2.86 | ||||||||||||||||||||||||||||||||
Interest Bearing Deposits at Banks | Interest Bearing Deposits at Banks | 56,379 | 122 | 0.87 | 242,348 | 106 | 0.17 | Interest Bearing Deposits at Banks | 67,870 | 378 | 2.23 | 160,935 | 92 | 0.23 | ||||||||||||||||||||||||||||||||
Other Interest-Earning Assets | Other Interest-Earning Assets | 3,235 | 38 | 4.71 | 4,044 | 45 | 4.46 | Other Interest-Earning Assets | 2,784 | 39 | 5.56 | 3,512 | 43 | 4.86 | ||||||||||||||||||||||||||||||||
Total Interest-Earning Assets | Total Interest-Earning Assets | 1,307,605 | 10,992 | 3.37 | 1,402,870 | 10,863 | 3.11 | Total Interest-Earning Assets | 1,327,818 | 12,318 | 3.68 | 1,380,986 | 10,827 | 3.11 | ||||||||||||||||||||||||||||||||
Noninterest-Earning Assets | Noninterest-Earning Assets | 84,323 | 82,794 | Noninterest-Earning Assets | 68,796 | 88,291 | ||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 1,391,928 | $ | 1,485,664 | Total Assets | $ | 1,396,614 | $ | 1,469,277 | ||||||||||||||||||||||||||||||||||||
Liabilities and Stockholders' Equity: | Liabilities and Stockholders' Equity: | Liabilities and Stockholders' Equity: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Bearing Liabilities: | Interest-Bearing Liabilities: | Interest-Bearing Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Bearing Demand Deposits (3) | Interest-Bearing Demand Deposits (3) | $ | 260,655 | 111 | 0.17 | % | $ | 275,752 | 55 | 0.08 | % | Interest-Bearing Demand Deposits (3) | $ | 278,412 | 393 | 0.56 | % | $ | 275,411 | 48 | 0.07 | % | ||||||||||||||||||||||||
Savings (3) | Savings (3) | 248,356 | 20 | 0.03 | 247,238 | 25 | 0.04 | Savings (3) | 251,148 | 20 | 0.03 | 251,801 | 21 | 0.03 | ||||||||||||||||||||||||||||||||
Money Market (3) | Money Market (3) | 188,804 | 61 | 0.13 | 199,652 | 71 | 0.14 | Money Market (3) | 189,371 | 269 | 0.56 | 198,167 | 55 | 0.11 | ||||||||||||||||||||||||||||||||
Time Deposits (3) | Time Deposits (3) | 127,832 | 412 | 1.29 | 177,506 | 676 | 1.53 | Time Deposits (3) | 123,438 | 397 | 1.28 | 168,654 | 591 | 1.39 | ||||||||||||||||||||||||||||||||
Total Interest-Bearing Deposits (3) | Total Interest-Bearing Deposits (3) | 825,647 | 604 | 0.29 | 900,148 | 827 | 0.37 | Total Interest-Bearing Deposits (3) | 842,369 | 1,079 | 0.51 | 894,033 | 715 | 0.32 | ||||||||||||||||||||||||||||||||
Short-Term Borrowings | Short-Term Borrowings | Short-Term Borrowings | ||||||||||||||||||||||||||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase | 34,135 | 18 | 0.21 | 49,325 | 24 | 0.20 | Securities Sold Under Agreements to Repurchase | 28,738 | 19 | 0.26 | 40,818 | 25 | 0.24 | ||||||||||||||||||||||||||||||||
Other Borrowings | Other Borrowings | 17,611 | 173 | 3.94 | 6,000 | 35 | 2.34 | Other Borrowings | 17,621 | 174 | 3.92 | 6,000 | 36 | 2.38 | ||||||||||||||||||||||||||||||||
Total Interest-Bearing Liabilities | Total Interest-Bearing Liabilities | 877,393 | 795 | 0.36 | 955,473 | 886 | 0.37 | Total Interest-Bearing Liabilities | 888,728 | 1,272 | 0.57 | 940,851 | 776 | 0.33 | ||||||||||||||||||||||||||||||||
Noninterest-Bearing Demand Deposits | Noninterest-Bearing Demand Deposits | 391,975 | 387,317 | Noninterest-Bearing Demand Deposits | 390,658 | 387,746 | ||||||||||||||||||||||||||||||||||||||||
Other Liabilities | Other Liabilities | 4,415 | 7,999 | Other Liabilities | 2,636 | 8,019 | ||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 1,273,783 | 1,350,789 | Total Liabilities | 1,282,022 | 1,336,616 | ||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity | Stockholders' Equity | 118,145 | 134,875 | Stockholders' Equity | 114,592 | 132,661 | ||||||||||||||||||||||||||||||||||||||||
Total Liabilities and Stockholders' Equity | Total Liabilities and Stockholders' Equity | $ | 1,391,928 | $ | 1,485,664 | Total Liabilities and Stockholders' Equity | $ | 1,396,614 | $ | 1,469,277 | ||||||||||||||||||||||||||||||||||||
Net Interest Income (FTE) (Non-GAAP) (4) | Net Interest Income (FTE) (Non-GAAP) (4) | $ | 10,197 | $ | 9,977 | Net Interest Income (FTE) (Non-GAAP) (4) | $ | 11,046 | $ | 10,051 | ||||||||||||||||||||||||||||||||||||
Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | 3.01 | % | 2.74 | % | Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | 3.11 | % | 2.78 | % | ||||||||||||||||||||||||||||||||||||
Net Interest-Earning Assets (5) | Net Interest-Earning Assets (5) | $ | 430,212 | $ | 447,397 | Net Interest-Earning Assets (5) | $ | 439,090 | $ | 440,135 | ||||||||||||||||||||||||||||||||||||
Net Interest Margin (GAAP) (7)) | Net Interest Margin (GAAP) (7)) | 3.12 | 2.84 | Net Interest Margin (GAAP) (7)) | 3.29 | 2.88 | ||||||||||||||||||||||||||||||||||||||||
Net Interest Margin (FTE) (Non-GAAP) (4)(7) | Net Interest Margin (FTE) (Non-GAAP) (4)(7) | 3.13 | 2.85 | Net Interest Margin (FTE) (Non-GAAP) (4)(7) | 3.30 | 2.89 | ||||||||||||||||||||||||||||||||||||||||
Return on Average Assets (1) | Return on Average Assets (1) | 0.03 | (0.06) | Return on Average Assets (1) | 1.12 | 0.54 | ||||||||||||||||||||||||||||||||||||||||
Return on Average Equity (1) | Return on Average Equity (1) | 0.40 | (0.66) | Return on Average Equity (1) | 13.60 | 5.93 | ||||||||||||||||||||||||||||||||||||||||
Average Equity to Average Assets | Average Equity to Average Assets | 8.49 | 9.08 | Average Equity to Average Assets | 8.20 | 9.03 | ||||||||||||||||||||||||||||||||||||||||
Average Interest-Earning Assets to Average Interest-Bearing Liabilities | Average Interest-Earning Assets to Average Interest-Bearing Liabilities | 149.03 | 146.82 | Average Interest-Earning Assets to Average Interest-Bearing Liabilities | 149.41 | 146.78 | ||||||||||||||||||||||||||||||||||||||||
PPP Loans | PPP Loans | $ | 5,546 | $ | 144 | 10.41 | $ | 57,661 | $ | 636 | 4.42 | PPP Loans | $ | 2,424 | $ | 123 | 20.13 | $ | 40,313 | $ | 484 | 4.76 |
Three Months Ended June 30, 2022 Compared to Three Months Ended June 30, 2021 | Three Months Ended September 30, 2022 Compared to Three Months Ended September 30, 2021 | |||||||||||||||||||||
(Decrease) Increase Due to | Increase (Decrease) Due to | |||||||||||||||||||||
Volume | Rate | Total | Volume | Rate | Total | |||||||||||||||||
(Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | ||||||||||||||||||||
Interest and Dividend Income: | Interest and Dividend Income: | Interest and Dividend Income: | ||||||||||||||||||||
Loans, net | Loans, net | $ | (82) | $ | (126) | $ | (208) | Loans, net | $ | 192 | $ | 901 | $ | 1,093 | ||||||||
Debt Securities: | Debt Securities: | Debt Securities: | ||||||||||||||||||||
Taxable | Taxable | 462 | (109) | 353 | Taxable | 111 | 31 | 142 | ||||||||||||||
Exempt From Federal Tax | Exempt From Federal Tax | (26) | 5 | (21) | Exempt From Federal Tax | (28) | — | (28) | ||||||||||||||
Marketable Equity Securities | Marketable Equity Securities | — | (4) | (4) | Marketable Equity Securities | — | 2 | 2 | ||||||||||||||
Cash at Other Banks | Cash at Other Banks | (89) | 375 | 286 | ||||||||||||||||||
Other Interest-Earning Assets | Other Interest-Earning Assets | (10) | 3 | (7) | Other Interest-Earning Assets | (10) | 6 | (4) | ||||||||||||||
Total Interest-Earning Assets | Total Interest-Earning Assets | 211 | (82) | 129 | Total Interest-Earning Assets | 176 | 1,315 | 1,491 | ||||||||||||||
Interest Expense: | Interest Expense: | Interest Expense: | ||||||||||||||||||||
Deposits | Deposits | (54) | (169) | (223) | Deposits | (41) | 405 | 364 | ||||||||||||||
Short-Term Borrowings: | Short-Term Borrowings: | Short-Term Borrowings: | ||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase | (7) | 1 | (6) | Securities Sold Under Agreements to Repurchase | (8) | 2 | (6) | ||||||||||||||
Other Borrowings | Other Borrowings | 102 | 36 | 138 | Other Borrowings | 104 | 34 | 138 | ||||||||||||||
Total Interest-Bearing Liabilities | Total Interest-Bearing Liabilities | 41 | (132) | (91) | Total Interest-Bearing Liabilities | 55 | 441 | 496 | ||||||||||||||
Change in Net Interest and Dividend Income | Change in Net Interest and Dividend Income | $ | 170 | $ | 50 | $ | 220 | Change in Net Interest and Dividend Income | $ | 121 | $ | 874 | $ | 995 |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||
Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | Average Balance | Interest and Dividends | Yield/ Cost (1) | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Earning Assets: | Interest-Earning Assets: | Interest-Earning Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Loans, Net (2) | Loans, Net (2) | $ | 1,008,539 | $ | 19,322 | 3.86 | % | $ | 1,024,319 | $ | 20,131 | 3.96 | % | Loans, Net (2) | $ | 1,013,871 | $ | 30,157 | 3.98 | % | $ | 1,017,632 | $ | 29,872 | 3.92 | % | ||||||||||||||||||||
Debt Securities | Debt Securities | Debt Securities | ||||||||||||||||||||||||||||||||||||||||||||
Taxable | Taxable | 222,144 | 1,893 | 1.70 | 123,790 | 1,281 | 2.07 | Taxable | 222,132 | 2,878 | 1.73 | 148,718 | 2,124 | 1.90 | ||||||||||||||||||||||||||||||||
Tax Exempt | Tax Exempt | 9,649 | 156 | 3.23 | 12,608 | 192 | 3.05 | Tax Exempt | 9,093 | 218 | 3.20 | 12,284 | 282 | 3.06 | ||||||||||||||||||||||||||||||||
Marketable Equity Securities | Marketable Equity Securities | 2,693 | 42 | 3.12 | 2,641 | 44 | 3.33 | Marketable Equity Securities | 2,693 | 64 | 3.17 | 2,645 | 63 | 3.18 | ||||||||||||||||||||||||||||||||
Interest Bearing Deposits at Other Banks | Interest Bearing Deposits at Other Banks | 57,829 | 156 | 0.54 | 200,388 | 150 | 0.15 | Interest Bearing Deposits at Other Banks | 61,213 | 534 | 1.16 | 187,093 | 243 | 0.17 | ||||||||||||||||||||||||||||||||
Other Interest-Earning Assets | Other Interest-Earning Assets | 3,358 | 76 | 4.56 | 3,977 | 99 | 5.02 | Other Interest-Earning Assets | 3,165 | 115 | 4.86 | 3,820 | 141 | 4.93 | ||||||||||||||||||||||||||||||||
Total Interest-Earning Assets | Total Interest-Earning Assets | 1,304,212 | 21,645 | 3.35 | 1,367,723 | 21,897 | 3.23 | Total Interest-Earning Assets | 1,312,167 | 33,966 | 3.46 | 1,372,192 | 32,725 | 3.19 | ||||||||||||||||||||||||||||||||
Noninterest-Earning Assets | Noninterest-Earning Assets | 103,201 | 87,645 | Noninterest-Earning Assets | 91,607 | 87,863 | ||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 1,407,413 | $ | 1,455,368 | Total Assets | $ | 1,403,774 | $ | 1,460,055 | ||||||||||||||||||||||||||||||||||||
Liabilities and Stockholders' Equity: | Liabilities and Stockholders' Equity: | Liabilities and Stockholders' Equity: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Bearing Liabilities: | Interest-Bearing Liabilities: | Interest-Bearing Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
Interest-Bearing Demand Deposits (3) | Interest-Bearing Demand Deposits (3) | $ | 268,585 | 160 | 0.12 | % | $ | 267,455 | 133 | 0.10 | % | Interest-Bearing Demand Deposits (3) | $ | 271,897 | 554 | 0.27 | % | $ | 270,136 | 181 | 0.09 | % | ||||||||||||||||||||||||
Savings (3) | Savings (3) | 246,084 | 38 | 0.03 | 243,565 | 57 | 0.05 | Savings (3) | 247,790 | 58 | 0.03 | 246,340 | 78 | 0.04 | ||||||||||||||||||||||||||||||||
Money Market (3) | Money Market (3) | 190,605 | 102 | 0.11 | 198,530 | 168 | 0.17 | Money Market (3) | 190,189 | 371 | 0.26 | 198,408 | 223 | 0.15 | ||||||||||||||||||||||||||||||||
Time Deposits (3) | Time Deposits (3) | 129,914 | 834 | 1.29 | 182,283 | 1,416 | 1.57 | Time Deposits (3) | 127,732 | 1,231 | 1.29 | 177,690 | 2,007 | 1.51 | ||||||||||||||||||||||||||||||||
Total Interest-Bearing Deposits (3) | Total Interest-Bearing Deposits (3) | 835,188 | 1,134 | 0.27 | 891,833 | 1,774 | 0.40 | Total Interest-Bearing Deposits (3) | 837,608 | 2,214 | 0.35 | 892,574 | 2,489 | 0.37 | ||||||||||||||||||||||||||||||||
ST Borrowings | ST Borrowings | ST Borrowings | ||||||||||||||||||||||||||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase | 36,000 | 37 | 0.21 | 45,232 | 47 | 0.21 | Securities Sold Under Agreements to Repurchase | 33,553 | 56 | 0.22 | 43,745 | 72 | 0.22 | ||||||||||||||||||||||||||||||||
Other Borrowings | Other Borrowings | 17,608 | 347 | 3.97 | 6,597 | 76 | 2.32 | Other Borrowings | 17,612 | 522 | 3.96 | 6,396 | 112 | 2.34 | ||||||||||||||||||||||||||||||||
Total Interest-Bearing Liabilities | Total Interest-Bearing Liabilities | 888,796 | 1,518 | 0.34 | 943,662 | 1,897 | 0.41 | Total Interest-Bearing Liabilities | 888,773 | 2,792 | 0.42 | 942,715 | 2,673 | 0.38 | ||||||||||||||||||||||||||||||||
Noninterest-Bearing Demand Deposits | Noninterest-Bearing Demand Deposits | 388,103 | 368,318 | Noninterest-Bearing Demand Deposits | 388,964 | 374,865 | ||||||||||||||||||||||||||||||||||||||||
Other Liabilities | Other Liabilities | 6,468 | 8,433 | Other Liabilities | 5,177 | 8,293 | ||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 1,283,367 | 1,320,413 | Total Liabilities | 1,282,914 | 1,325,873 | ||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity | Stockholders' Equity | 124,046 | 134,955 | Stockholders' Equity | 120,860 | 134,182 | ||||||||||||||||||||||||||||||||||||||||
Total Liabilities and Stockholders' Equity | Total Liabilities and Stockholders' Equity | $ | 1,407,413 | $ | 1,455,368 | Total Liabilities and Stockholders' Equity | $ | 1,403,774 | $ | 1,460,055 | ||||||||||||||||||||||||||||||||||||
Net Interest Income (FTE) (Non-GAAP) (4) | Net Interest Income (FTE) (Non-GAAP) (4) | $ | 20,127 | $ | 20,000 | Net Interest Income (FTE) (Non-GAAP) (4) | $ | 31,174 | $ | 30,052 | ||||||||||||||||||||||||||||||||||||
Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | 3.01 | % | 2.82 | % | Net Interest Rate Spread (FTE) (Non-GAAP) (4)(6) | 3.04 | % | 2.81 | % | ||||||||||||||||||||||||||||||||||||
Net Interest-Earning Assets (5) | Net Interest-Earning Assets (5) | $ | 415,416 | $ | 424,061 | Net Interest-Earning Assets (5) | $ | 423,394 | $ | 429,477 | ||||||||||||||||||||||||||||||||||||
Net Interest Margin (GAAP) (7) | Net Interest Margin (GAAP) (7) | 3.10 | 2.94 | Net Interest Margin (GAAP) (7) | 3.17 | 2.92 | ||||||||||||||||||||||||||||||||||||||||
Net Interest Margin (FTE) (Non-GAAP) (4)(7) | Net Interest Margin (FTE) (Non-GAAP) (4)(7) | 3.11 | 2.95 | Net Interest Margin (FTE) (Non-GAAP) (4)(7) | 3.18 | 2.93 | ||||||||||||||||||||||||||||||||||||||||
Return on Average Assets (1) | Return on Average Assets (1) | 0.45 | 0.36 | Return on Average Assets (1) | 0.68 | 0.42 | ||||||||||||||||||||||||||||||||||||||||
Return on Average Equity (1) | Return on Average Equity (1) | 5.15 | 3.92 | Return on Average Equity (1) | 7.85 | 4.59 | ||||||||||||||||||||||||||||||||||||||||
Average Equity to Average Assets | Average Equity to Average Assets | 8.81 | 9.27 | Average Equity to Average Assets | 8.61 | 9.19 | ||||||||||||||||||||||||||||||||||||||||
Average Interest-Earning Assets to Average Interest-Bearing Liabilities | Average Interest-Earning Assets to Average Interest-Bearing Liabilities | 146.74 | 144.94 | Average Interest-Earning Assets to Average Interest-Bearing Liabilities | 147.64 | 145.56 | ||||||||||||||||||||||||||||||||||||||||
PPP Loans | PPP Loans | $ | 10,085 | $ | 589 | 11.78 | $ | 57,305 | $ | 1,313 | 4.62 | PPP Loans | $ | 7,503 | $ | 712 | 12.69 | $ | 51,579 | $ | 1,797 | 4.66 |
Six Months Ended June 30, 2022 Compared to Six Months Ended June 30, 2021 | Nine Months Ended September 30, 2022 Compared to Nine Months Ended September 30, 2021 | |||||||||||||||||||||
Increase (Decrease) Due to | Increase (Decrease) Due to | |||||||||||||||||||||
Volume | Rate | Total | Volume | Rate | Total | |||||||||||||||||
(Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | (Dollars in thousands) (Unaudited) | ||||||||||||||||||||
Interest and Dividend Income: | Interest and Dividend Income: | Interest and Dividend Income: | ||||||||||||||||||||
Loans, net | Loans, net | $ | (306) | $ | (503) | $ | (809) | Loans, net | $ | (170) | $ | 455 | $ | 285 | ||||||||
Debt Securities: | Debt Securities: | Debt Securities: | ||||||||||||||||||||
Taxable | Taxable | 874 | (262) | 612 | Taxable | 958 | (204) | 754 | ||||||||||||||
Exempt From Federal Tax | Exempt From Federal Tax | (46) | 10 | (36) | Exempt From Federal Tax | (77) | 13 | (64) | ||||||||||||||
Marketable Equity Securities | Marketable Equity Securities | 1 | (3) | (2) | Marketable Equity Securities | 1 | — | 1 | ||||||||||||||
Cash at Other Banks | Cash at Other Banks | (260) | 551 | 291 | ||||||||||||||||||
Other Interest-Earning Assets | Other Interest-Earning Assets | (14) | (9) | (23) | Other Interest-Earning Assets | (24) | (2) | (26) | ||||||||||||||
Total Interest-Earning Assets | Total Interest-Earning Assets | 342 | (594) | (252) | Total Interest-Earning Assets | 428 | 813 | 1,241 | ||||||||||||||
Interest Expense: | Interest Expense: | Interest Expense: | ||||||||||||||||||||
Deposits | Deposits | (96) | (544) | (640) | Deposits | (145) | (130) | (275) | ||||||||||||||
Short-Term Borrowings: | Short-Term Borrowings: | Short-Term Borrowings: | ||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase | (10) | — | (10) | Securities Sold Under Agreements to Repurchase | (16) | — | (16) | ||||||||||||||
Other Borrowings | Other Borrowings | 190 | 81 | 271 | Other Borrowings | 295 | 115 | 410 | ||||||||||||||
Total Interest-Bearing Liabilities | Total Interest-Bearing Liabilities | 84 | (463) | (379) | Total Interest-Bearing Liabilities | 134 | (15) | 119 | ||||||||||||||
Change in Net Interest and Dividend Income | Change in Net Interest and Dividend Income | $ | 258 | $ | (131) | $ | 127 | Change in Net Interest and Dividend Income | $ | 294 | $ | 828 | $ | 1,122 |
June 30, 2022 | December 31, 2021 | September 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||
Common Equity Tier 1 (to risk weighted assets) | Common Equity Tier 1 (to risk weighted assets) | Common Equity Tier 1 (to risk weighted assets) | ||||||||||||||||||||||||||
Actual | Actual | $ | 114,705 | 11.83 | % | $ | 113,086 | 11.95 | % | Actual | $ | 117,868 | 12.02 | % | $ | 113,086 | 11.95 | % | ||||||||||
For Capital Adequacy Purposes | For Capital Adequacy Purposes | 43,628 | 4.50 | 42,571 | 4.50 | For Capital Adequacy Purposes | 44,139 | 4.50 | 42,571 | 4.50 | ||||||||||||||||||
To Be Well Capitalized | To Be Well Capitalized | 63,019 | 6.50 | 61,491 | 6.50 | To Be Well Capitalized | 63,756 | 6.50 | 61,491 | 6.50 | ||||||||||||||||||
Tier 1 Capital (to risk weighted assets) | Tier 1 Capital (to risk weighted assets) | Tier 1 Capital (to risk weighted assets) | ||||||||||||||||||||||||||
Actual | Actual | 114,705 | 11.83 | 113,086 | 11.95 | Actual | 117,868 | 12.02 | 113,086 | 11.95 | ||||||||||||||||||
For Capital Adequacy Purposes | For Capital Adequacy Purposes | 58,171 | 6.00 | 56,761 | 6.00 | For Capital Adequacy Purposes | 58,852 | 6.00 | 56,761 | 6.00 | ||||||||||||||||||
To Be Well Capitalized | To Be Well Capitalized | 77,562 | 8.00 | 75,682 | 8.00 | To Be Well Capitalized | 78,469 | 8.00 | 75,682 | 8.00 | ||||||||||||||||||
Total Capital (to risk weighted assets) | Total Capital (to risk weighted assets) | Total Capital (to risk weighted assets) | ||||||||||||||||||||||||||
Actual | Actual | 126,832 | 13.08 | 124,668 | 13.18 | Actual | 130,136 | 13.27 | 124,668 | 13.18 | ||||||||||||||||||
For Capital Adequacy Purposes | For Capital Adequacy Purposes | 77,562 | 8.00 | 75,682 | 8.00 | For Capital Adequacy Purposes | 78,469 | 8.00 | 75,682 | 8.00 | ||||||||||||||||||
To Be Well Capitalized | To Be Well Capitalized | 96,952 | 10.00 | 94,602 | 10.00 | To Be Well Capitalized | 98,086 | 10.00 | 94,602 | 10.00 | ||||||||||||||||||
Tier 1 Leverage (to adjusted total assets) | Tier 1 Leverage (to adjusted total assets) | Tier 1 Leverage (to adjusted total assets) | ||||||||||||||||||||||||||
Actual | Actual | 114,705 | 8.33 | 113,086 | 7.76 | Actual | 117,868 | 8.51 | 113,086 | 7.76 | ||||||||||||||||||
For Capital Adequacy Purposes | For Capital Adequacy Purposes | 55,085 | 4.00 | 58,307 | 4.00 | For Capital Adequacy Purposes | 55,407 | 4.00 | 58,307 | 4.00 | ||||||||||||||||||
To Be Well Capitalized | To Be Well Capitalized | 68,856 | 5.00 | 72,884 | 5.00 | To Be Well Capitalized | 69,258 | 5.00 | 72,884 | 5.00 |
EVE | EVE as a Percent of Portfolio Value of Assets | Net Interest Earnings at Risk | EVE | EVE as a Percent of Portfolio Value of Assets | Net Interest Earnings at Risk | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in Interest Rates in Basis Points | Change in Interest Rates in Basis Points | Dollar Amount | Dollar Change | Percent Change | NPV Ratio | Basis Point Change | Dollar Amount | Dollar Change | Percent Change | Change in Interest Rates in Basis Points | Dollar Amount | Dollar Change | Percent Change | NPV Ratio | Basis Point Change | Dollar Amount | Dollar Change | Percent Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | (Dollars in thousands) | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
+300 | +300 | $ | 212,524 | $ | (18,020) | (7.8) | % | 16.81 | % | 9 | $ | 46,040 | $ | 5,279 | 13.0 | % | +300 | $ | 204,778 | $ | (36,873) | (15.3) | % | 15.92 | % | (125) | $ | 46,260 | $ | 946 | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||||||
+200 | +200 | 219,212 | (11,332) | (4.9) | % | 16.85 | 13 | 44,765 | 4,004 | 9.8 | +200 | 221,014 | (20,637) | (8.5) | % | 16.63 | (54) | 46,099 | 785 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
+100 | +100 | 225,463 | (5,081) | (2.2) | % | 16.84 | 12 | 42,985 | 2,224 | 5.5 | +100 | 238,932 | (2,719) | (1.1) | % | 17.38 | 21 | 45,930 | 616 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flat | Flat | 230,544 | — | — | % | 16.72 | — | 40,761 | — | — | Flat | 241,651 | — | — | % | 17.17 | — | 45,314 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(100) | (100) | 228,505 | (2,039) | (0.9) | % | 16.16 | (56) | 38,470 | (2,291) | (5.6) | (100) | 273,688 | 32,037 | 13.3 | % | 18.58 | 141 | 44,401 | (913) | (2.0) |
Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of the Publicly Announced Program | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program | ||||||||||||||||||||||
April 1-30, 2022 | — | $ | — | — | $ | 10,000,000 | ||||||||||||||||||||
May 1-31, 2022 | 9,609 | 22.46 | 9,609 | $ | 9,784,144 | |||||||||||||||||||||
June 1-30, 2022 | 17,830 | 21.84 | 17,830 | $ | 9,394,786 | |||||||||||||||||||||
Total | 27,439 | $ | 22.06 | 27,439 |
Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of the Publicly Announced Program | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program | ||||||||||||||||||||||
July 1-31, 2022 | 15,881 | $ | 22.13 | 15,881 | $ | 9,027,381 | ||||||||||||||||||||
August 1-31, 2022 | 13,054 | 22.75 | 13,054 | $ | 8,730,351 | |||||||||||||||||||||
September 1-30, 2022 | 1,336 | 22.06 | 1,336 | $ | 8,700,885 | |||||||||||||||||||||
Total | 30,271 | $ | 22.39 | 30,271 |
3.1 | ||||||||
3.2 | ||||||||
31.1 | ||||||||
31.2 | ||||||||
32.1 | ||||||||
101 | The following materials for the quarter ended | |||||||
104 | Cover Page Interactive Data File (Embedded within Inline XBRL contained in Exhibit 101) |
CB FINANCIAL SERVICES, INC. | |||||||||||
(Registrant) | |||||||||||
Date: | /s/ John H. Montgomery | ||||||||||
John H. Montgomery | |||||||||||
President and Chief Executive Officer | |||||||||||
Date: | /s/ Jamie L. Prah | ||||||||||
Jamie L. Prah | |||||||||||
Executive Vice President and Chief Financial Officer | |||||||||||
(Principal Financial Officer and Chief Accounting Officer) |