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CONSOLIDATED STATEMENT 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 and fees on loans:        
Taxable $ 5,275 $ 4,397 $ 15,034 $ 12,329
Exempt from Federal income taxes 202 186 635 501
Interest on Federal funds sold 5
Interest on deposits in banks 19 71 73 151
Interest and dividends on investment securities:        
Taxable 1,523 1,846 4,894 5,756
Exempt from Federal income taxes 36 55 109 221
Total interest income 7,055 6,555 20,745 18,963
Interest expense:        
Interest on deposits 261 545 1,074 1,558
Interest on borrowings 74 82 243 300
Total interest expense 335 627 1,317 1,858
Net interest income 6,720 5,928 19,428 17,105
Provision for loan losses 445 120 1,485 480
Net interest income after provision for loan losses 6,275 5,808 17,943 16,625
Noninterest income:        
Service charges on deposit accounts 115 149 381 409
Other noninterest income 259 259 743 766
Total noninterest income 374 417 1,162 1,249
Noninterest expense:        
Salaries and employee benefits 2,889 2,898 8,265 8,423
Occupancy 258 256 773 768
Furniture and equipment 140 120 422 400
Federal Deposit Insurance Corporation assessments 62 (47) 138 48
Expenses related to other real estate owned 4 7 27 15
Other expense 870 859 2,730 2,847
Total noninterest expense 4,223 4,093 12,355 12,501
Income before provision for income taxes 2,426 2,132 6,750 5,373
Provision for income taxes 647 561 1,798 1,380
Net income $ 1,779 $ 1,571 $ 4,952 $ 3,993
Basic earnings per share $ 0.30 $ 0.27 $ 0.84 $ 0.68
Diluted earnings per share $ 0.30 $ 0.27 $ 0.84 $ 0.68