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Unaudited Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income        
Loans, including fees $ 13,385 $ 12,101 $ 26,491 $ 23,723
Interest-bearing time deposits in other banks 133 497 295 914
Interest-bearing deposits in other banks 38 468 277 1,006
Total interest income 13,556 13,066 27,063 25,643
Interest Expense        
Deposits 1,627 2,483 3,702 4,707
Total interest expense 1,627 2,483 3,702 4,707
Net Interest Income 11,929 10,583 23,361 20,936
Provision for Loan Losses 1,400 0 2,050 0
Net Interest Income After Provision for Loan Losses 10,529 10,583 21,311 20,936
Noninterest Income        
Secondary market income 39 40 77 77
Service charges on deposit accounts 95 109 214 169
Other 167 146 340 272
Total noninterest income 301 295 631 518
Noninterest Expense        
Salaries and employee benefits 2,597 2,365 5,071 4,536
Furniture and equipment 218 218 434 377
Occupancy 413 378 874 721
Data and item processing 269 276 545 538
Accounting, marketing and legal fees 77 142 203 289
Regulatory assessments 94 31 117 63
Advertising and public relations 29 92 298 278
Travel, lodging and entertainment 43 92 96 134
Other 383 454 838 867
Total noninterest expense 4,123 4,048 8,476 7,803
Income Before Taxes 6,707 6,830 13,466 13,651
Income tax expense 1,671 1,704 3,379 3,409
Net Income $ 5,036 $ 5,126 $ 10,087 $ 10,242
Earnings per common share - basic (in dollars per share) $ 0.54 $ 0.50 $ 1.05 $ 1.00
Earnings per common share - diluted (in dollars per share) $ 0.54 $ 0.50 $ 1.05 $ 1.00
Weighted average common shares outstanding - basic (in shares) 9,232,509 10,187,500 9,598,232 10,187,500
Weighted average common shares outstanding - diluted (in shares) 9,232,509 10,192,649 9,598,232 10,187,500