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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income    
Interest and fees on loans $ 13,284,000 $ 13,694,000
Interest on investment securities 236,000 319,000
Other interest income 112,000 332,000
Total interest income 13,632,000 14,345,000
Interest expense    
Interest on deposits 877,000 3,229,000
Total interest expense 877,000 3,229,000
Net interest income 12,755,000 11,116,000
Provision for loan losses 620,000 743,000
Net interest income after provision for loan losses 12,135,000 10,373,000
Noninterest income    
Service charges on deposits 274,000 368,000
Loan servicing fees, net of amortization 531,000 392,000
Gain on sale of loans 1,882,000 1,155,000
Other income 279,000 381,000
Total noninterest income 2,966,000 2,296,000
Noninterest expense    
Salaries and employee benefits 4,662,000 5,071,000
Occupancy and equipment 1,235,000 1,230,000
Data processing and communication 448,000 409,000
Professional fees 314,000 273,000
FDIC insurance and regulatory assessments 132,000 106,000
Promotion and advertising 177,000 162,000
Directors’ fees 116,000 233,000
Foundation donation and other contributions 507,000 330,000
Other expenses 375,000 393,000
Total noninterest expense 7,966,000 8,207,000
Income before income taxes 7,135,000 4,462,000
Income tax expense 2,058,000 1,163,000
Net income $ 5,077,000 $ 3,299,000
Earnings per share - Basic $ 0.33 $ 0.21
Earnings per share - Diluted $ 0.33 $ 0.21
Other comprehensive (loss)/income:    
Change in unrealized (loss)/income on securities available for sale $ (747,000) $ 1,294,000
Tax effect 221,000 (382,000)
Total other comprehensive (loss)/income (526,000) 912,000
Comprehensive income $ 4,551,000 $ 4,211,000