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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest Income      
Loans, including fees $ 55,768 $ 52,450 $ 48,200
Interest-bearing time deposits in other banks 169 525 1,709
Debt securities, taxable 143 0 0
Debt securities, tax-exempt 31 0 0
Other interest and dividend income 178 339 1,800
Total interest income 56,289 53,314 51,709
Interest Expense      
Deposits 3,053 6,153 9,516
Total interest expense 3,053 6,153 9,516
Net Interest Income 53,236 47,161 42,193
Provision for Loan Losses 4,175 5,350 0
Net Interest Income After Provision for Loan Losses 49,061 41,811 42,193
Noninterest Income      
Secondary market income 435 175 164
Service charges on deposit accounts 550 442 392
Other 1,265 1,048 752
Total noninterest income 2,250 1,665 1,308
Noninterest Expense      
Salaries and employee benefits 11,983 10,130 21,265
Furniture and equipment 883 868 829
Occupancy 1,899 1,957 1,677
Data and item processing 1,237 1,091 1,078
Accounting, marketing and legal fees 800 536 757
Regulatory assessments 604 506 126
Advertising and public relations 282 400 588
Travel, lodging and entertainment 409 241 368
Other 2,300 1,863 1,744
Total noninterest expense 20,397 17,592 28,432
Income Before Taxes 30,914 25,884 15,069
Income tax expense 7,755 6,618 6,844
Net Income $ 23,159 $ 19,266 $ 8,225
Earnings per common share - basic (in dollars per share) $ 2.56 $ 2.05 $ 0.81
Earnings per common share - diluted (in dollars per share) $ 2.55 $ 2.05 $ 0.81
Weighted average common shares outstanding - basic (in shares) 9,056,117 9,378,769 10,145,032
Weighted average common shares outstanding - diluted (in shares) 9,091,536 9,379,154 10,147,311
Other Comprehensive Income      
Unrealized gains on securities, net of tax benefit of $29,000 $ 144 $ 0 $ 0
Reclassification adjustment for gains included in net income 0 0 0
Other comprehensive gain, net of tax benefit of $29,000 144 0 0
Comprehensive Income $ 23,303 $ 19,266 $ 8,225