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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans, including fees $ 18,703 $ 21,756 $ 37,896 $ 42,375
Investment securities and interest bearing deposits in banks 1,051 888 1,919 2,526
FHLB dividends 122 54 221 179
FRB dividends 117 114 229 222
Total interest and dividend income 19,993 22,812 40,265 45,302
Interest expense:        
Deposits 1,228 1,675 2,434 4,002
Subordinated debt 896 100 1,791 219
Other borrowings 87 87 174 94
Total interest expense 2,211 1,862 4,399 4,315
Net interest income 17,782 20,950 35,866 40,987
(Reversal of) provision for loan losses (507) 4,398 (507) 6,111
Net interest income after provision for loan losses 18,289 16,552 36,373 34,876
Noninterest income:        
Gain on sale of loans 953 212 1,529 854
Loan servicing and other loan fees 436 595 965 1,241
Gain on sale of premises     12  
Income on investment in Small Business Investment Company ("SBIC") fund 232 (309) 495 35
Gain on sale of OREO   28 36 28
Other income and fees 228 166 445 407
Total noninterest income 2,453 1,302 4,690 3,880
Noninterest expense:        
Salaries and employee benefits 8,109 8,252 16,994 16,960
Occupancy and equipment 1,850 1,774 3,665 3,585
Data processing 1,269 1,450 2,753 5,074
Other expense 2,181 2,060 4,082 4,835
Total noninterest expense 13,409 13,536 27,494 30,454
Income before provision for income taxes 7,333 4,318 13,569 8,302
Provision for income taxes 2,025 1,199 3,729 2,365
Net income $ 5,308 $ 3,119 $ 9,840 $ 5,937
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.49 $ 0.26 $ 0.89 $ 0.49
Weighted average shares outstanding (in shares) 10,893,371 12,025,098 11,079,741 12,186,254
Diluted earnings per common share (in dollars per share) $ 0.49 $ 0.26 $ 0.89 $ 0.49
Weighted average shares outstanding (in shares) 10,893,371 12,025,098 11,079,741 12,186,254
Bank Servicing and Other        
Noninterest income:        
Revenue from contract with customer, excluding assessed tax $ 604 $ 610 $ 1,208 $ 1,315