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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income    
Loans and fees on loans $ 29,177 $ 24,574
Interest-bearing deposits with banks 288 106
Federal funds sold 249 228
Interest on taxable securities 967 1,181
Dividends 121 97
30,802 26,186
Interest expense    
Deposits 2,852 1,867
Interest on borrowings 17 34
2,869 1,901
Net interest income 27,933 24,285
Provision for loan losses 655 325
Net interest income after provision for loan losses 27,278 23,960
Noninterest income    
Net realized gains on securities 49 5
Increase in cash value of life insurance 442 433
Life insurance income 303
Other income 309 122
4,915 4,637
Noninterest expenses    
Salaries and employee benefits 13,245 11,802
Occupancy and equipment 2,953 2,671
Foreclosed asset expense, net 3 32
Data processing expense 1,546 1,353
FDIC Assessments 50 231
Advertising 603 569
Bank franchise tax 438 438
Director fees 356 370
Professional fees 667 452
Telephone expense 371 415
Core deposit intangible amortization 822 578
Merger related expenses 1,978
Other expense 2,204 1,968
23,258 22,857
Income before income taxes 8,935 5,740
Income tax expense 1,780 1,214
Net income $ 7,155 $ 4,526
Basic earnings per share (in dollars per share) $ 1.16 $ 0.81
Weighted average shares outstanding (in shares) 6,184,133 5,622,224
Dividends declared per share (in dollars per share) $ 0.24 $ 0.20
Deposit Account [Member]    
Noninterest income    
Noninterest income $ 1,652 $ 1,538
Financial Service, Other [Member]    
Noninterest income    
Noninterest income 2,004 1,840
Mortgage Banking [Member]    
Noninterest income    
Noninterest income $ 459 $ 396