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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        
Loans, Including Fees $ 25,913 $ 23,321 $ 51,026 $ 45,500
Investment Securities 2,091 1,928 4,287 3,829
Other 162 271 321 458
Total Interest Income 28,166 25,520 55,634 49,787
INTEREST EXPENSE        
Deposits 5,170 6,020 10,894 11,723
Notes Payable 111 130 226 251
FHLB Advances 1,064 827 2,091 1,602
Subordinated Debentures 479 393 872 770
Federal Funds Purchased   12 107 172
Total Interest Expense 6,824 7,382 14,190 14,518
NET INTEREST INCOME 21,342 18,138 41,444 35,269
Provision for Loan Losses 3,000 600 5,100 1,200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,342 17,538 36,344 34,069
NONINTEREST INCOME        
Customer Service Fees 135 189 375 380
Net Gain on Sales of Available for Sale Securities 1,361 463 1,364 458
Other Income 481 482 1,957 930
Total Noninterest Income 1,977 1,134 3,696 1,768
NONINTEREST EXPENSE        
Salaries and Employee Benefits 6,348 5,124 12,802 9,926
Occupancy and Equipment 672 785 1,385 1,441
Other Expense 3,691 3,565 6,270 5,992
Total Noninterest Expense 10,711 9,474 20,457 17,359
INCOME BEFORE INCOME TAXES 9,608 9,198 19,583 18,478
Provision for Income Taxes 2,010 1,189 4,542 3,451
NET INCOME $ 7,598 $ 8,009 $ 15,041 $ 15,027
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.26 $ 0.27 $ 0.52 $ 0.50
Diluted (in dollars per share) $ 0.26 $ 0.26 $ 0.51 $ 0.49