XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income:        
Interest and fees on loans $ 7,713 $ 8,443 $ 16,059 $ 17,085
Interest on investment securities 356 444 784 921
Interest on deposits in FRB 38 1,424 605 2,722
Total interest income 8,107 10,311 17,448 20,728
Interest Expense:        
Interest on deposits 447 890 1,111 1,724
Interest on other borrowed funds 83 118 180 241
Total interest expense 530 1,008 1,291 1,965
Net Interest Income 7,577 9,303 16,157 18,763
Provision for Credit Losses 428 4 2,134 10
Net Interest Income after Provision for Credit Losses 7,149 9,299 14,023 18,753
Noninterest Income:        
Customer service fees 618 830 1,346 1,639
Increase in cash surrender value of bank-owned life insurance 127 147 258 292
Unrealized gain on fair value of marketable equity securities 71 53 85 110
Gain on proceeds from bank-owned life insurance 310 0 310 0
(Loss) gain on fair value of junior subordinated debentures (30) 497 1,469 911
Loss on dissolution of real estate investment trust 0 (5) 0 (114)
Gain on sale of assets 0 6 0 6
Other 118 201 328 408
Total noninterest income 1,214 1,729 3,796 3,252
Noninterest Expense:        
Salaries and employee benefits 2,414 2,760 5,409 5,532
Occupancy expense 869 808 1,723 1,621
Data processing 135 144 247 251
Professional fees 555 746 1,257 1,559
Regulatory assessments 77 83 162 176
Director fees 94 95 188 186
Correspondent bank service charges 17 14 33 28
Net cost on operation and sale of OREO 780 87 933 152
Other 612 525 1,193 1,104
Total noninterest expense 5,553 5,262 11,145 10,609
Income Before Provision for Taxes 2,810 5,766 6,674 11,396
Provision for Taxes on Income 798 1,669 1,906 3,292
Net Income $ 2,012 $ 4,097 $ 4,768 $ 8,104
Net Income per common share        
Basic (in dollars per share) $ 0.12 $ 0.24 $ 0.28 $ 0.48
Diluted (in dollars per share) $ 0.12 $ 0.24 $ 0.28 $ 0.48
Shares on which net income per common shares were based        
Basic (in shares) 16,975,588 16,950,564 16,974,845 16,948,810
Diluted (in shares) 16,988,778 16,981,705 16,992,223 16,977,224