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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Loans $ 14,703 $ 12,466 $ 29,287 $ 24,248
Federal funds sold 84 108 172 437
Investment securities 392 207 752 398
Total interest income 15,179 12,781 30,211 25,083
Interest expense        
Deposits 1,138 1,521 2,329 3,515
Borrowings and subordinated debt 455 475 960 602
Total interest expense 1,593 1,996 3,289 4,117
Net interest income 13,586 10,785 26,922 20,966
Provision for credit losses (1,100) 2,930 (800) 3,330
Net interest income after provision for credit losses 14,686 7,855 27,722 17,636
Non-interest income        
Service charges and other fees 638 537 1,279 1,508
Other 318 240 598 560
Total non-interest income 956 777 1,877 2,068
Non-interest expense        
Salaries and benefits 6,374 2,121 12,741 8,598
Premises and equipment 1,209 1,132 2,406 2,271
Professional fees 527 1,267 1,116 2,222
Data processing 484 536 1,064 1,062
Other 1,241 1,384 2,588 2,694
Total non-interest expense 9,835 6,440 19,915 16,847
Income before provision for income taxes 5,807 2,192 9,684 2,857
Provision for income taxes 1,645 642 2,713 834
Net income $ 4,162 $ 1,550 $ 6,971 $ 2,023
Earnings per common share        
Basic $ 0.51 $ 0.19 $ 0.85 $ 0.25
Diluted $ 0.50 $ 0.19 $ 0.84 $ 0.25
Average common shares outstanding 8,209,678 8,127,911 8,195,380 8,115,575
Average common and equivalent shares outstanding 8,295,278 8,165,938 8,275,510 8,160,152