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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest and dividend income    
Interest and fees on loans $ 10,477 $ 9,987
Interest on debt securities    
Taxable 423 455
Tax exempt 162 185
Other interest and dividends 34 91
Total interest and dividend income 11,096 10,718
Interest expense    
Deposits 555 1,509
Repurchase agreements 3 7
Finance lease 32 36
Note payable 3 4
Subordinated Debt 119 156
Federal Home Loan Bank of Boston advances 34 219
Total interest expense 746 1,931
Net interest and dividend income 10,350 8,787
Provision for loan losses 158 1,706
Net interest and dividend income after provision for loan losses 10,192 7,081
Non-interest income    
Trust and wealth advisory 1,146 1,030
Service charges and fees 950 905
Mortgage banking activities, net 608 128
(Losses) gains on CRA mutual fund (16) 14
Gains on sales and calls of available -for-sale- securities, net 1
BOLI income and gains 125 134
Other 28 33
Total non-interest income 2,841 2,245
Non-interest expense    
Salaries 2,901 2,850
Employee benefits 1,312 1,146
Premises and equipment 954 911
Data processing 565 540
Professional fees 711 628
Collections, OREO, and loan related 84 25
FDIC insurance 145 105
Marketing and community support 82 125
Amortization of intangibles 71 87
Other 434 519
Total non-interest expense 7,259 6,936
Income before income taxes 5,774 2,390
Income tax provision 1,248 343
Net income 4,526 2,047
Net income available to common shareholders $ 4,462 $ 2,013
Basic earnings per common share $ 1.59 $ 0.72
Diluted earnings per common share 1.59 0.72
Common dividends per share $ 0.29 $ 0.29