XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
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 and Dividend Income        
Loans, including fees $ 7,679 $ 8,171 $ 15,492 $ 16,187
Mortgage-backed securities 377 570 840 1,118
Investments:        
Taxable 107 118 221 233
Tax-exempt 416 389 831 768
Federal Home Loan Bank and other restricted stock 91 155 234 329
Interest-earning deposits and federal funds sold 14 98 102 178
Total Interest and Dividend Income 8,684 9,501 17,720 18,813
Interest Expense        
Deposits 1,319 1,791 2,991 3,384
Federal Home Loan Bank short-term borrowings   9   37
Long-term borrowings 556 534 1,087 1,070
Securities sold under agreements to repurchase 3 4 7 10
Total Interest Expense 1,878 2,338 4,085 4,501
Net Interest Income 6,806 7,163 13,635 14,312
Provision for Loan Losses 1,620 181 2,170 290
Net Interest Income after Provision for Loan Losses 5,186 6,982 11,465 14,022
Noninterest Income        
Earnings on bank-owned life insurance 139 134 277 265
Net gain loss on sales of securities   6   (1)
Net equity securities fair value adjustment (losses) gains (116) 8 (790) 35
Net loan sale gains and referral fees 382 48 481 82
Other income 33 16 53 78
Total Noninterest Income 1,335 1,093 1,870 2,231
Noninterest Expenses        
Compensation and employee benefits 3,022 3,213 6,387 6,434
Data processing 178 176 366 353
Premises and occupancy costs 604 596 1,220 1,269
Automatic teller machine expense 135 148 281 285
Federal deposit insurance 66 68 22 136
Core deposit amortization 108 145 253 338
Other operating expenses 1,097 1,044 2,191 2,042
Total Noninterest Expenses 5,210 5,390 10,720 10,857
Income before Income Tax Expense 1,311 2,685 2,615 5,396
Income Tax Expense        
Federal 149 485 259 842
State 25 102 109 288
Total Income Tax Expense 174 587 368 1,130
Net Income $ 1,137 $ 2,098 $ 2,247 $ 4,266
Earnings Per Share:        
Basic earnings per common share (in dollars per share) $ 0.25 $ 0.45 $ 0.50 $ 0.92
Diluted earnings per common share (in dollars per share) 0.25 0.44 0.49 0.90
Cash dividends paid per common share (in dollars per share) $ 0.22 $ 0.22 $ 0.44 $ 0.44
Basic weighted average shares outstanding (in shares) 4,513,403 4,652,673 4,528,905 4,655,985
Diluted weighted average shares outstanding (in shares) 4,581,846 4,745,975 4,606,365 4,755,480
Service charges        
Noninterest Income        
Fees and commissions $ 768 $ 714 $ 1,500 $ 1,403
Investment management fees        
Noninterest Income        
Fees and commissions $ 129 $ 167 $ 349 $ 369