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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest and Dividend Income    
Interest and fees on loans $ 42,215 $ 38,255
Interest and dividends on securities 2,133 2,671
Other income 47 60
Total interest and dividend income 44,395 40,986
Interest Expense    
Interest expense on deposits 6,671 6,989
Interest expense on borrowings 1,348 1,750
Total interest expense 8,019 8,739
Net interest income 36,376 32,247
Provision for loan losses 7,138 2,460
Net interest income after provision for loan losses 29,238 29,787
Noninterest Income    
Service charges on deposit accounts 2,276 2,824
Net realized loss on sales and calls of securities (29) (69)
Net gain on sales of loans 3,762 1,171
Increase in cash surrender value of life insurance 380 398
Net gain from sale of other real estate owned 498  
Other real estate owned income   28
Gain on disposal of premises and equipment 13  
Investment advisory income 1,288 944
Other 115 334
Total noninterest income 8,303 5,630
Noninterest Expense    
Salaries and employee benefits 16,797 15,631
Occupancy 3,545 3,490
Data processing 1,399 1,340
Professional fees 1,648 1,386
Marketing 506 666
FDIC deposit insurance and other insurance 797 478
Other real estate owned expense 154 123
Amortization of intangible assets 42 43
Other 5,177 4,768
Total noninterest expense 30,065 27,925
Income before income taxes 7,476 7,492
Provision for income taxes 1,559 1,529
Net income $ 5,917 $ 5,963
Earnings per common share:    
Basic (in dollars per share) $ 0.55 $ 0.56
Diluted (in dollars per share) $ 0.55 $ 0.56
Weighted average shares outstanding, basic 10,729,596 10,707,776
Weighted average shares outstanding, diluted 10,739,841 10,707,776