XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME    
Interest and fees on loans receivable $ 55,029 $ 43,063
Interest on mortgage-backed and related securities 2,550 2,701
Interest on investment securities 5,819 5,569
Interest-bearing deposits and other 83 94
FHLB dividends 190 255
Total interest income 63,671 51,682
INTEREST EXPENSE    
Deposits 3,396 6,663
Borrowings 774 1,061
Subordinated debt 1,203 0
Total interest expense 5,373 7,724
Net interest income 58,298 43,958
PROVISION FOR LOAN LOSSES 1,350 5,046
Net interest income after provision for loan losses 56,948 38,912
NONINTEREST INCOME    
Loan and deposit service fees 3,860 3,454
Sold loan servicing fees, net of amortization 946 137
Net gain on sale of loans 5,278 6,433
Net gain on sale of investment securities 2,410 3,147
Increase in cash surrender value of bank-owned life insurance, net 965 1,826
Other income 2,179 849
Total noninterest income 15,638 15,846
NONINTEREST EXPENSE    
Compensation and benefits 33,515 24,590
Data processing 6,244 4,637
Occupancy and equipment 4,312 3,879
Supplies, postage, and telephone 1,189 985
Regulatory assessments and state taxes 1,213 930
Advertising 2,040 1,506
Professional fees 1,997 1,523
FDIC insurance premium 752 245
FHLB prepayment penalty 0 210
Other 3,151 2,959
Total noninterest expense 54,413 41,464
INCOME BEFORE PROVISION FOR INCOME TAXES 18,173 13,294
PROVISION FOR INCOME TAXES 3,194 2,954
NET INCOME 14,979 10,340
Net loss attributable to noncontrolling interest in Quin Ventures, Inc. 439 0
NET INCOME ATTRIBUTABLE TO PARENT $ 15,418 $ 10,340
Basic and diluted earnings per common share (in dollars per share) $ 1.63 $ 1.07