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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income:        
Interest and fees on loans $ 26,365 $ 25,182 $ 51,114 $ 54,139
Interest and dividends on taxable securities 1,340 959 2,665 1,878
Interest and dividends on tax exempt securities 105 114 210 237
Interest and dividends on other earning assets 448 376 854 685
Total interest and dividend income 28,258 26,631 54,843 56,939
Interest expense:        
Interest on deposits 2,311 3,389 4,684 7,205
Interest on borrowings 1,341 1,442 2,699 2,979
Total interest expense 3,652 4,831 7,383 10,184
Net interest income 24,606 21,800 47,460 46,755
Provision for (recovery of) credit losses 422 (4,215) 521 (5,587)
Net interest income after (recovery of) provision for credit losses 24,184 26,015 46,939 52,342
Noninterest income:        
Account maintenance and deposit service fees 1,442 1,586 2,793 3,250
Income from bank-owned life insurance 378 379 753 765
Net gains on sale of mortgage loans 593   593 0
Other noninterest income 217 453 581 752
Total noninterest income 2,630 2,418 4,720 4,767
Noninterest expenses:        
Salaries and benefits 10,573 8,810 20,198 18,182
Occupancy expenses 1,418 1,447 2,875 2,986
Furniture and equipment expenses 1,128 864 2,228 1,680
Amortization of core deposit intangible 341 341 682 682
Virginia franchise tax expense 814 759 1,627 1,434
Data processing expense 1,293 1,016 2,783 1,815
Telephone and communication expense 366 414 748 936
Net (gain) loss on other real estate owned   77 (59) 17
Loss on bank premises and equipment 620   620  
Professional fees 827 1,091 1,921 2,225
Other operating expenses 3,050 2,376 5,794 5,261
Total noninterest expenses 20,430 17,195 39,417 35,218
Income from continuing operations before income taxes 6,384 11,238 12,242 21,891
Income tax expense 1,375 2,434 2,640 4,735
Income from continuing operations 5,009 8,804 9,602 17,156
Income from discontinued operation before income taxes   1,878   3,193
Income tax expense   407   691
Income from discontinued operation   1,471   2,502
Net income 5,009 10,275 9,602 19,658
Other comprehensive income (loss):        
Unrealized gain (loss) on available-for-sale securities (10,723) 1,238 (24,099) (498)
Accretion of amounts previously recorded upon transfer to held to maturity from available for sale       189
Net unrealized gain (loss) (10,723) 1,238 (24,099) (309)
Tax (benefit) expense (2,252) 260 (5,061) (65)
Other comprehensive income (loss): (8,471) 978 (19,038) (244)
Comprehensive income (loss) $ (3,462) $ 11,253 $ (9,436) $ 19,414
Earnings per share from continuing operations, basic (in dollars per share) $ 0.20 $ 0.36 $ 0.39 $ 0.71
Earnings per share from discontinued operation, basic (in dollars per share) 0.00 0.06 0.00 0.10
Earnings per share from continuing operations, diluted (in dollars per share) 0.20 0.36 0.39 0.70
Earnings per share from discontinued operation, diluted (in dollars per share) $ 0.00 $ 0.06 $ 0.00 $ 0.10