XML 74 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and Dividend Income        
Interest and fees on loans $ 10,160 $ 8,570 $ 28,276 $ 22,713
Interest and dividends on securities 655 578 1,976 1,762
Other income 10 5 51 14
Total interest and dividend income 10,825 9,153 30,303 24,489
Interest Expense        
Interest expense on deposits 1,957 1,112 4,980 2,927
Interest expense on borrowings 404 311 1,368 673
Total interest expense 2,361 1,423 6,348 3,600
Net interest income 8,464 7,730 23,955 20,889
Provision for loan losses 450 525 2,010 1,575
Net interest income after provision for loan losses 8,014 7,205 21,945 19,314
Noninterest Income        
Service charges on deposit accounts 729 785 2,141 2,030
Net realized loss on sales and calls of securities   (21) (40) (22)
Net gain on sales of loans 159 167 367 435
Increase in cash surrender value of life insurance 100 101 300 300
Write-downs of other real estate owned       (387)
Other real estate owned income 8 11 19 32
Investment advisory income 225 225 767 557
Other 238 230 602 685
Total noninterest income 1,459 1,498 4,156 3,630
Noninterest Expense        
Salaries and employee benefits 3,944 3,601 11,915 10,520
Occupancy 838 818 2,631 2,572
Data processing 353 283 1,003 851
Professional fees 361 217 987 635
Marketing 166 148 468 532
FDIC deposit insurance and other insurance 29 229 317 608
Other real estate owned expense 73 101 111 184
Amortization of intangible assets 10 11 32 32
Impairment loss on goodwill       95
Other 1,058 1,065 3,334 3,211
Total noninterest expense 6,832 6,473 20,798 19,240
Income before income taxes 2,641 2,230 5,303 3,704
Provision for income taxes 550 266 1,080 545
Net income $ 2,091 $ 1,964 $ 4,223 $ 3,159
Earnings per common share:        
Basic (in dollars per share) $ 0.20   $ 0.39  
Diluted (in dollars per share) $ 0.20   $ 0.39  
Weighted average shares outstanding, basic 10,710,500   10,705,046  
Weighted average shares outstanding, diluted 10,710,500   10,705,046