XML 28 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest income    
Loans $ 26,560,000 $ 24,784,000
Investment securities 1,052,000 983,000
Federal funds sold 55,000 59,000
Total interest income 27,667,000 25,826,000
Interest expense    
Deposits 1,576,000 3,098,000
Borrowed funds 596,000 1,335,000
Total interest expense 2,172,000 4,433,000
Net interest income 25,495,000 21,393,000
Provision for (recovery of) loan losses (500,000) 950,000
Net interest income after provision for (recovery of) loan losses 25,995,000 20,443,000
Noninterest income    
Service charges and fees 2,352,000 2,073,000
Mortgage banking income, net 9,521,000 9,732,000
Gain on sale of asset held for sale 0 1,000
Gain on sale of investment securities, net 0 12,000
Gain on sale of Small Business Administration loans   86,000
Other 470,000 341,000
Total noninterest income 12,343,000 12,245,000
Noninterest expense    
Salaries and benefits 14,105,000 12,920,000
Occupancy 1,375,000 1,290,000
Equipment 1,041,000 881,000
Supplies 174,000 188,000
Professional and outside services 2,835,000 3,104,000
Advertising and marketing 453,000 365,000
Foreclosed assets, net (8,000) (149,000)
FDIC insurance premium 192,000 217,000
Losses on debt extinguishment 0 696,000
Other operating expense 2,298,000 2,137,000
Total noninterest expense 22,465,000 21,649,000
Income before income tax expense 15,873,000 11,039,000
Income tax expense 3,420,000 2,485,000
Net income $ 12,453,000 $ 8,554,000
Earnings per share, basic $ 8.48 $ 5.86
Earnings per share, diluted $ 8.48 $ 5.86