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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and dividend income        
Loans, including fees $ 12,027 $ 15,371 $ 38,307 $ 46,112
Securities 183 508 758 1,712
Other 275 749 1,267 1,852
Total interest income 12,485 16,628 40,332 49,676
Interest expense        
Deposits 1,488 3,385 6,041 10,023
Borrowings 0 1 0 89
Total interest expense 1,488 3,386 6,041 10,112
Net interest income 10,997 13,242 34,291 39,564
Provision for (recovery of ) loan losses (187) (134) 326 3,736
Net interest income after provision for (recovery of) loan losses 11,184 13,376 33,965 35,828
Noninterest income        
Deposit service charges and fees 833 983 2,456 2,887
Loan servicing fees [1] 44 99 189 178
Mortgage brokerage and banking fees [1] 44 28 84 77
Gain on sale of equity securities [1] 0 0 0 295
Loss on disposal of other assets 0 0 (2) (19)
Trust and insurance commissions and annuities income 222 198 728 627
Earnings on bank-owned life insurance [1] 10 37 51 105
Other [1] 111 129 319 374
Total noninterest income 1,264 1,474 3,825 4,524
Noninterest expense        
Compensation and benefits 5,398 5,218 16,084 16,128
Office occupancy and equipment 1,860 1,879 5,383 5,348
Advertising and public relations 135 182 405 488
Information technology 781 892 2,453 2,351
Professional fees 307 213 831 757
Supplies, telephone, and postage 288 312 875 1,037
Amortization of intangibles 6 13 27 47
Nonperforming asset management 57 17 154 129
Operations of other real estate owned, net 23 19 13 22
FDIC insurance premiums 105 (127) 241 127
Other 827 891 2,198 2,645
Total noninterest expense 9,787 9,509 28,664 29,079
Income before income taxes 2,661 5,341 9,126 11,273
Income tax expense 713 1,417 2,408 2,991
Net income $ 1,948 $ 3,924 $ 6,718 $ 8,282
Basic and diluted earnings per common share (in dollars per share) $ 0.13 $ 0.26 $ 0.45 $ 0.53
Basic and diluted weighted average common shares outstanding (in shares) 14,842,150 15,373,964 15,008,271 15,679,927
[1] Not within the scope of ASC 606