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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and Dividend Income        
Interest and fees on loans $ 10,386 $ 10,160 $ 31,001 $ 28,276
Interest and dividends on securities 476 655 1,790 1,976
Other income 12 10 36 51
Total interest and dividend income 10,874 10,825 32,827 30,303
Interest Expense        
Interest expense on deposits 1,553 1,957 5,429 4,980
Interest expense on borrowings 293 404 1,072 1,368
Total interest expense 1,846 2,361 6,501 6,348
Net interest income 9,028 8,464 26,326 23,955
Provision for loan losses 2,250 450 5,705 2,010
Net interest income after provision for loan losses 6,778 8,014 20,621 21,945
Noninterest Income        
Service charges on deposit accounts 558 729 1,705 2,141
Net realized loss on sales and calls of securities     (29) (40)
Net gain on sales of loans 976 289 2,382 706
Increase in cash surrender value of life insurance 97 100 290 300
Net gain from sale of other real estate owned 42   42  
Other real estate owned income   8   19
Gain on disposal of premises and equipment 13   13  
Investment advisory income 380 225 942 767
Other 30 108 61 263
Total noninterest income 2,096 1,459 5,406 4,156
Noninterest Expense        
Salaries and employee benefits 4,158 3,876 12,305 11,706
Occupancy 885 838 2,613 2,631
Data processing 325 353 1,040 1,003
Professional fees 380 361 1,055 987
Marketing 95 166 320 468
FDIC deposit insurance and other insurance 248 29 613 317
Other real estate owned expense 54 73 80 111
Amortization of intangible assets 11 10 32 32
Other 1,276 1,126 3,438 3,543
Total noninterest expense 7,432 6,832 21,496 20,798
Income before income taxes 1,442 2,641 4,531 5,303
Provision for income taxes 292 550 958 1,080
Net income $ 1,150 $ 2,091 $ 3,573 $ 4,223
Earnings per common share:        
Basic (in dollars per share) $ 0.10 $ 0.20 $ 0.33 $ 0.39
Diluted (in dollars per share) $ 0.10 $ 0.20 $ 0.33 $ 0.39
Weighted average shares outstanding, basic 10,732,321 10,710,500 10,726,867 10,705,046
Weighted average shares outstanding, diluted 10,732,321 10,710,500 10,726,867 10,705,046