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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans $ 8,678 $ 8,020 $ 17,119 $ 15,212
Securities 752 1,058 1,638 2,123
Interest earning deposits and other 36 244 283 471
Total interest income 9,466 9,322 19,040 17,806
Interest expense:        
Savings, NOW and money market deposits 197 611 494 1,040
Time deposits 96 126 192 251
Borrowings 1 1 3 3
Total interest expense 294 738 689 1,294
Net interest income 9,172 8,584 18,351 16,512
Provision for loan losses 1,900 400 3,800 825
Net interest income after provision for loan losses 7,272 8,184 14,551 15,687
Non-interest income:        
Total non-interest income 2,955 3,090 6,075 5,171
Non-interest expense:        
Employee compensation and benefits 4,099 3,587 8,076 7,023
Occupancy and equipment, net 574 443 1,119 882
Professional and consulting services 690 837 1,537 1,330
FDIC and regulatory assessments 94 86 185 172
Advertising and marketing 62 278 153 330
Travel and business relations 12 124 140 237
Data processing 771 713 1,500 1,219
Other operating expenses 479 439 936 795
Total non-interest expense 6,781 6,507 13,646 11,988
Net income before income taxes 3,446 4,767 6,980 8,870
Income tax expense 913 1,299 1,850 2,417
Net income $ 2,533 $ 3,468 $ 5,130 $ 6,453
Earnings per share        
Basic (in dollars per share) $ 0.34 $ 0.47 $ 0.69 $ 0.87
Diluted (in dollars per share) $ 0.33 $ 0.45 $ 0.67 $ 0.83
Merchant processing income        
Non-interest income:        
Noninterest income $ 2,850 $ 2,895 $ 5,806 $ 4,709
Customer related fees and service charges        
Non-interest income:        
Noninterest income $ 105 $ 195 $ 269 $ 462