XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Loans $ 14,086 $ 13,515 $ 27,675 $ 26,557
Federal funds sold and interest-earning deposits in other banks 33 456 201 999
Investments 381 601 802 1,066
TOTAL INTEREST INCOME 14,500 14,572 28,678 28,622
INTEREST EXPENSE        
Money market, NOW and savings deposits 648 407 996 763
Time deposits 1,576 1,985 3,507 3,738
Short-term debt 141 26 228 52
Long-term debt 281 457 633 915
TOTAL INTEREST EXPENSE 2,646 2,875 5,364 5,468
NET INTEREST INCOME 11,854 11,697 23,314 23,154
PROVISION FOR LOAN LOSSES 1,933 (207) 4,206 (95)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,921 11,904 19,108 23,249
NON-INTEREST INCOME        
Fees on the sale of mortgages 355 230 648 387
Other fees and income 850 814 1,663 1,588
TOTAL NON-INTEREST INCOME 1,411 1,328 2,855 2,525
NON-INTEREST EXPENSE        
Personnel 5,786 5,031 11,418 10,002
Occupancy and equipment 986 922 1,917 1,649
Deposit insurance 76 90 64 195
Professional fees 451 483 823 865
CDI amortization 195 205 374 424
Merger/acquisition related expenses 709 107 748 107
Information systems 972 877 2,010 1,666
Foreclosure-related expenses 187 10 192 40
Other 1,140 1,086 2,203 2,167
TOTAL NON-INTEREST EXPENSE 10,502 8,811 19,749 17,115
INCOME BEFORE INCOME TAX 830 4,421 2,214 8,659
INCOME TAXES 149 973 429 1,904
NET INCOME $ 681 $ 3,448 $ 1,785 $ 6,755
NET INCOME PER COMMON SHARE        
Basic $ 0.04 $ 0.18 $ 0.10 $ 0.35
Diluted $ 0.04 $ 0.18 $ 0.10 $ 0.35
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic 18,013,863 19,318,358 18,134,607 19,317,029
Diluted 18,030,136 19,359,492 18,157,992 19,360,039
Deposit Account [Member]        
NON-INTEREST INCOME        
Revenue from Contract with Customer, Excluding Assessed Tax $ 206 $ 284 $ 544 $ 550