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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and Dividend Income        
Interest and fees on loans $ 10,727 $ 9,650 $ 20,808 $ 20,320
Interest and dividends on securities 968 574 1,842 937
Other income 44 13 63 32
Total interest and dividend income 11,739 10,237 22,713 21,289
Interest Expense        
Interest expense on deposits 766 930 1,511 1,950
Interest expense on borrowings 106 178 221 428
Total interest expense 872 1,108 1,732 2,378
Net interest income 10,867 9,129 20,981 18,911
Provision for (credit to) loan losses 346 (1,148) 567 (1,217)
Net interest income after provision for (credit to) loan losses 10,521 10,277 20,414 20,128
Non-interest Income        
Service charges on deposit accounts 706 618 1,412 1,227
Net realized loss on sales and calls of securities (162)   (162)  
Net gain on sales of loans 293 618 693 1,677
Increase in cash surrender value of life insurance 161 160 318 254
Net gain from sale of other real estate owned   2   2
Gain on disposal of premises and equipment       17
Gain on life insurance       195
Investment advisory income 363 358 703 575
Other 142 100 250 150
Total non-interest income 1,503 1,856 3,214 4,097
Non-interest Expense        
Salaries and employee benefits 5,517 4,995 11,036 9,587
Occupancy 1,199 1,038 2,297 1,992
Data processing 456 424 942 819
Professional fees 479 528 873 936
Marketing 201 146 318 234
FDIC deposit insurance and other insurance 194 170 376 341
Other real estate owned expense   2   3
Amortization of intangible assets 24 29 51 42
Other 1,415 1,544 2,697 2,875
Total non-interest expense 9,485 8,876 18,590 16,829
Income before income taxes 2,539 3,257 5,038 7,396
Provision for income taxes 510 692 956 1,510
Net income $ 2,029 $ 2,565 $ 4,082 $ 5,886
Earnings per common share:        
Basic (in dollars per share) $ 0.19 $ 0.24 $ 0.38 $ 0.55
Diluted (in dollars per share) $ 0.18 $ 0.23 $ 0.37 $ 0.54
Weighted average shares outstanding, basic 10,820,802 10,748,688 10,818,075 10,745,961
Weighted average shares outstanding, diluted 10,992,428 10,928,343 11,001,460 10,902,916