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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and fees on loans:      
Taxable $ 20,322 $ 16,834 $ 13,924
Exempt from Federal income taxes 944 781 529
Interest on deposits in banks 88 201 33
Interest on Federal funds sold 5 348
Interest and dividends on investment securities:      
Taxable 6,401 7,589 6,901
Exempt from Federal income taxes 145 260 507
Total interest income 27,900 25,670 22,242
Interest expense:      
Interest on deposits (Note 9) 1,274 2,078 1,359
Interest on borrowings 308 383 237
Total interest expense 1,582 2,461 1,596
Net interest income 26,318 23,209 20,646
Provision for loan losses (Note 7) 1,520 660 175
Net interest income after provision for loan losses 24,798 22,549 20,471
Noninterest income:      
Service charges 500 558 476
Gain on sale of investment securities (Note 5) 38 115 31
Other income (Note 15) 988 1,015 1,006
Total noninterest income 1,526 1,688 1,513
Noninterest expense:      
Salaries and employee benefits (Notes 6 and 16) 11,202 11,316 10,203
Other real estate expense 81 134 20
Occupancy (Notes 8, 12 and 17) 1,031 1,023 1,050
Furniture and equipment (Notes 8 and 12) 558 542 553
Regulatory assessments 287 126 280
Other expense (Note 15) 3,554 3,705 3,404
Total noninterest expense 16,713 16,846 15,510
Income before provision for income taxes 9,611 7,391 6,474
Provision for income taxes (Note 11) 2,556 1,891 1,574
Net income $ 7,055 $ 5,500 $ 4,900
Basic earnings per share (Note 13) $ 1.20 $ 0.94 $ 0.83
Diluted earnings per share (Note 13) $ 1.20 $ 0.94 $ 0.83