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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and dividend income:    
Loans and loans held for sale $ 31,298 $ 29,616
Investment securities 3,484 3,222
Other interest-earning assets 165 459
Total interest and dividend income 34,947 33,297
Interest expense:    
Deposits 4,405 4,706
Borrowed funds 415 279
Subordinated debt 231 228
Total interest expense 5,051 5,213
Net interest income 29,896 28,084
Provision for loan losses 6,147 (400)
Net interest income after provision for loan losses 23,749 28,484
Non-interest income:    
Wealth management fees 1,440 1,299
Deposit and interchange fees 1,691 1,564
Income on bank-owned life insurance, net 153 162
Net gains (losses) on sales of debt securities 100 (1)
Net gains on sales of loans 147 36
Other income 667 776
Total non-interest income 4,198 3,836
Non-interest expense:    
Salaries and employee benefits 14,819 13,481
Occupancy and equipment expenses 2,176 2,212
Technology and telecommunications expenses 2,188 1,726
Advertising and public relations expenses 645 705
Audit, legal and other professional fees 605 423
Deposit insurance premiums 404 351
Supplies and postage expenses 247 224
Other operating expenses 1,595 1,728
Total non-interest expense 22,679 20,850
Income before income taxes 5,268 11,470
Provision for income taxes 1,251 2,774
Net income $ 4,017 $ 8,696
Basic earnings per share $ 0.34 $ 0.74
Diluted earnings per share $ 0.34 $ 0.74
Basic weighted average common shares outstanding 11,841,392 11,730,482
Diluted weighted average common shares outstanding 11,877,031 11,783,405