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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 $ 3,606 $ 3,487 $ 7,215 $ 6,865
Interest on debt securities:        
Taxable 64 205 151 417
Non-taxable 224 136 414 251
Total interest on debt securities 288 341 565 668
Dividends 36 58 78 119
Total interest and dividend income 3,930 3,886 7,858 7,652
Interest expense:        
Interest on deposits 420 562 934 1,076
Interest on borrowed funds 239 505 515 1,020
Total interest expense 659 1,067 1,449 2,096
Net interest and dividend income 3,271 2,819 6,409 5,556
Provision for loan losses 160 25 275 25
Net interest income after provision for loan losses 3,111 2,794 6,134 5,531
Noninterest income:        
Customer service fees 225 254 457 473
Gain on sale of loans 166 24 218 35
Securities gains (losses), net 169 (2) 283 (10)
Income from bank-owned life insurance 21 29 25 59
Loan servicing fee income (loss) 18 (20) (7) (25)
Investment services fees 52 61 99 105
Other income 10 12 25 24
Total noninterest income 661 358 1,100 661
Noninterest expense:        
Salaries and employee benefits 1,962 1,773 3,952 3,525
Director compensation 67 76 125 156
Occupancy expense 171 169 324 340
Equipment expense 146 133 290 265
Marketing 67 165 158 247
Data processing 292 85 559 304
Deposit insurance fees 17 65 47 120
Professional fees and assessments 224 113 420 243
Debit card fees 67 40 116 75
Employee travel and education expenses 22 68 54 119
Other expense 183 246 355 397
Total noninterest expense 3,218 2,933 6,400 5,791
Income before income tax expense 554 219 834 401
Income tax expense 23 6 46 10
Net income $ 531 $ 213 $ 788 $ 391
Earnings per share:        
Basic $ 0.09   $ 0.13  
Diluted $ 0.09   $ 0.13  
Weighted Average Shares:        
Basic 5,862,913   5,861,423  
Diluted 5,862,913   5,861,423