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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 17,076 $ 15,945 $ 33,542 $ 31,448
Interest on securities 1,876 1,784 3,667 3,547
Interest on federal funds sold 37 212 150 425
Interest on deposits in other banks 32 306 238 722
Dividends on stock 2 9 6 19
Total Interest and Dividend Income 19,023 18,256 37,603 36,161
INTEREST EXPENSE        
Interest on deposits 2,051 2,449 4,543 4,746
Interest on other borrowed funds 16 0 16 0
Interest on junior subordinated debentures 0 156 0 312
Total Interest Expense 2,067 2,605 4,559 5,058
Net Interest Income 16,956 15,651 33,044 31,103
Provision for loan losses 1,525 529 2,028 1,055
Net Interest Income After Provision for Loan Losses 15,431 15,122 31,016 30,048
NONINTEREST INCOME        
Service charges on deposit accounts 718 1,083 1,946 2,109
Debit card income, net 896 785 1,651 1,481
Mortgage loan income 1,947 657 2,835 1,171
Brokerage income 395 626 1,139 991
Loan and deposit income 627 382 927 727
Bank-owned life insurance income 144 137 287 270
Gain (Loss) on equity securities 33 56 96 104
Gain (Loss) on sale of securities 840 0 1,223 0
SBIC income 190 376 368 496
Other income (loss) 33 (3) 82 46
Total Noninterest Income 5,823 4,099 10,554 7,395
OPERATING EXPENSES        
Personnel expenses 7,646 7,005 14,995 13,645
Occupancy and equipment expenses 1,235 1,334 2,419 2,509
Technology expenses 615 558 1,202 1,101
Advertising 215 396 476 605
Other business development expenses 256 277 551 560
Data processing expense 471 483 921 942
Other taxes 438 455 875 808
Loan and deposit expenses 273 392 519 615
Legal and professional expenses 605 383 1,100 702
Regulatory assessment expenses 139 133 164 275
Other operating expenses 976 988 1,597 1,800
Total Operating Expenses 12,869 12,404 24,819 23,562
Income Before Income Tax Expense 8,385 6,817 16,751 13,881
Income tax expense 1,531 1,279 3,152 2,647
Net Income $ 6,854 $ 5,538 $ 13,599 $ 11,234
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.94 $ 0.79 $ 1.86 $ 1.64
Diluted (in dollars per share) $ 0.93 $ 0.78 $ 1.85 $ 1.63