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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans, including fees $ 18,451 $ 20,136 $ 56,348 $ 62,511
Investment securities and interest bearing deposits in banks 1,275 875 3,193 3,400
FHLB dividends 125 95 346 274
FRB dividends 112 117 341 339
Total interest and dividend income 19,963 21,223 60,228 66,524
Interest expense:        
Deposits 1,240 1,562 3,674 5,564
Subordinated debt 896 600 2,686 818
Other borrowings 85 56 261 150
Total interest expense 2,221 2,218 6,621 6,532
Net interest income 17,742 19,005 53,607 59,992
(Reversal of) provision for loan losses 477 2,293 (30) 8,404
Net interest income after provision for loan losses 17,265 16,712 53,637 51,588
Noninterest income:        
Gain on sale of loans 2,176 176 3,705 1,030
Loan servicing and other loan fees 458 608 1,423 1,849
(Loss)/gain on sale of premises   (25) 12 (25)
Income on investment in Small Business Investment Company ("SBIC") fund 526 188 1,021 223
(Loss)/gain on sale of OREO (21)   15 28
Other income and fees 257 233 704 640
Total noninterest income 4,007 1,828 8,699 5,708
Noninterest expense:        
Salaries and employee benefits 8,163 8,482 25,158 25,442
Occupancy and equipment 1,945 1,749 5,610 5,334
Data processing 1,482 1,642 4,235 6,716
Other expense 2,290 2,283 6,371 7,118
Total noninterest expense 13,880 14,156 41,374 44,610
Income before provision for income taxes 7,392 4,384 20,962 12,686
Provision for income taxes 1,980 1,135 5,709 3,500
Net income $ 5,412 $ 3,249 $ 15,253 $ 9,186
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.51 $ 0.27 $ 1.39 $ 0.76
Weighted average shares outstanding (in shares) 10,692,781 11,865,058 10,949,286 12,078,407
Diluted earnings per common share (in dollars per share) $ 0.51 $ 0.27 $ 1.39 $ 0.76
Weighted average shares outstanding (in shares) 10,692,781 11,865,058 10,949,286 12,078,407
Bank Servicing and Other        
Noninterest income:        
Revenue from contract with customer, excluding assessed tax $ 611 $ 648 $ 1,819 $ 1,963