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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Interest and fees on loans $ 13,764 $ 12,909 $ 27,345 $ 26,047
Taxable securities 533 358 999 626
Tax-exempt securities 69 70 138 140
Interest-earning deposits 218 23 258 42
Other 14 31 29 65
Total interest income 14,598 13,391 28,769 26,920
Interest expense:        
Deposits 758 803 1,445 1,796
Federal Home Loan Bank advances 5 36 10 71
Junior subordinated notes 450 432 883 865
Total interest expense 1,213 1,271 2,338 2,732
Net interest income 13,385 12,120 26,431 24,188
Provision for loan losses 119 309 427 551
Net interest income after provision for loan losses 13,266 11,811 26,004 23,637
Noninterest income:        
Service charges on deposit accounts 368 322 702 590
Bank owned life insurance 78 85 157 177
Net gain on sale of premises and equipment 12 78 36 84
Other 179 283 368 492
Total noninterest income 637 768 1,263 1,343
Noninterest expenses:        
Compensation and employee benefits 5,679 4,987 11,216 10,061
Net occupancy 571 584 1,157 1,148
Federal deposit insurance 102 172 218 325
Professional and advisory 1,177 265 1,407 574
Data processing 520 494 1,014 1,027
Marketing and advertising 42 35 111 79
Net cost of operation of real estate owned 13 19 37 129
Other 923 847 1,852 1,727
Total noninterest expenses 9,027 7,403 17,012 15,070
Income before taxes 4,876 5,176 10,255 9,910
Income tax expense 1,183 1,213 2,454 2,353
Net income 3,693 3,963 7,801 7,557
Preferred stock dividends (39) (30) (77) (60)
Net income applicable to common shareholders $ 3,654 $ 3,933 $ 7,724 $ 7,497
Earnings per common share:        
Basic $ 0.67 $ 0.73 $ 1.42 $ 1.38
Diluted $ 0.65 $ 0.71 $ 1.37 $ 1.36
Weighted average common shares outstanding:        
Basic 5,201,806 5,134,112 5,192,202 5,167,763
Diluted 5,393,637 5,259,588 5,389,183 5,254,908