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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 and Dividend Income        
Interest and fees on loans $ 10,569 $ 9,401 $ 20,615 $ 18,116
Interest and dividends on securities 631 713 1,314 1,321
Other income 13 6 24 41
Total interest and dividend income 11,213 10,120 21,953 19,478
Interest Expense        
Interest expense on deposits 1,859 1,641 3,876 3,023
Interest expense on borrowings 377 558 779 964
Total interest expense 2,236 2,199 4,655 3,987
Net interest income 8,977 7,921 17,298 15,491
Provision for loan losses 2,255 780 3,455 1,560
Net interest income after provision for loan losses 6,722 7,141 13,843 13,931
Noninterest Income        
Service charges on deposit accounts 495 714 1,147 1,412
Net realized loss on sales and calls of securities   (40) (29) (40)
Net gain on sales of loans 941 251 1,406 417
Increase in cash surrender value of life insurance 96 100 193 200
Other real estate owned income   1   11
Investment advisory income 250 329 562 542
Other (32) 78 31 155
Total noninterest income 1,750 1,433 3,310 2,697
Noninterest Expense        
Salaries and employee benefits 3,995 3,942 8,147 7,830
Occupancy 878 898 1,728 1,793
Data processing 361 343 715 650
Professional fees 353 360 675 626
Marketing 82 147 225 302
FDIC deposit insurance and other insurance 197 147 365 288
Other real estate owned expense 9   26 38
Amortization of intangible assets 10 11 21 22
Other 880 1,200 2,162 2,417
Total noninterest expense 6,765 7,048 14,064 13,966
Income before income taxes 1,707 1,526 3,089 2,662
Provision for income taxes 359 305 666 530
Net income $ 1,348 $ 1,221 $ 2,423 $ 2,132
Earnings per common share:        
Basic (in dollars per share) $ 0.13 $ 0.11 $ 0.23 $ 0.20
Diluted (in dollars per share) $ 0.13 $ 0.11 $ 0.23 $ 0.20
Weighted average shares outstanding, basic 10,726,867 10,705,047 10,724,140 10,702,320
Weighted average shares outstanding, diluted 10,726,867 10,705,047 10,724,140 10,702,320