XML 16 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Loans $ 23,042 $ 22,817 $ 69,963 $ 65,804
Investment securities 310 576 1,090 1,664
Federal funds sold and interest-bearing deposits with banks 63 663 218 1,288
Total interest income 23,415 24,056 71,271 68,756
Interest expense        
Deposits 2,393 6,409 11,195 17,959
Borrowings 385 368 1,569 1,161
Total interest expense 2,778 6,777 12,764 19,120
Net interest income 20,637 17,279 58,507 49,636
Provision for loan losses 11,100 650 27,300 1,250
Net interest income after provision for loan losses 9,537 16,629 31,207 48,386
Noninterest income        
Mortgage banking income 6,277 3,055 14,721 7,741
Service fees on deposit accounts 211 271 670 802
ATM and debit card income 465 464 1,258 1,287
Income from bank owned life insurance 270 282 810 720
Other income 361 324 3,249 930
Total noninterest income 7,584 4,396 20,708 11,480
Noninterest expenses        
Compensation and benefits 8,894 7,668 25,216 21,850
Occupancy 1,602 1,416 4,635 4,099
Real estate owned expenses 673 673
Outside service and data processing costs 1,225 1,073 3,646 3,078
Insurance 377 145 995 743
Professional fees 568 399 1,591 1,252
Marketing 176 237 535 733
Other 668 546 1,907 1,745
Total noninterest expenses 14,183 11,484 39,198 33,500
Income before income tax expense 2,938 9,541 12,717 26,366
Income tax expense 721 2,129 2,990 5,705
Net income available to common shareholders $ 2,217 $ 7,412 $ 9,727 $ 20,661
Earnings per common share        
Basic $ 0.29 $ 0.98 $ 1.26 $ 2.75
Diluted $ 0.28 $ 0.95 $ 1.24 $ 2.66
Weighted average common shares outstanding        
Basic 7,732,293 7,548,184 7,711,181 7,501,337
Diluted 7,815,265 7,780,504 7,820,345 7,759,611