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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 $ 18,558 $ 15,298 $ 36,770 $ 30,995
Interest and dividends on debt securities available-for-sale 194 186 373 355
Interest on short-term investments 400 29 459 52
Total interest and dividend income 19,152 15,513 37,602 31,402
Interest expense:        
Interest on deposits 476 839 931 1,750
Interest on long-term borrowings 71 71 141 141
Total interest expense 547 910 1,072 1,891
Net interest and dividend income 18,605 14,603 36,530 29,511
Provision for loan losses 1,005 1,669 1,088 2,422
Net interest and dividend income after provision for loan losses 17,600 12,934 35,442 27,089
Noninterest income:        
Customer service fees on deposit accounts 619 433 1,200 812
Service charges and fees - other 452 438 828 788
Bank owned life insurance income 258 223 514 442
Gain on loans sold, net 187   284 9
Other income 36 9 46 70
Total noninterest income 1,552 1,103 2,872 2,121
Noninterest expense:        
Salaries and employee benefits 7,322 6,704 14,511 13,181
Occupancy expense 398 417 837 829
Equipment expense 143 127 281 249
Deposit insurance 154 111 305 217
Data processing 344 314 679 635
Marketing expense 70 81 197 118
Professional fees 709 469 1,437 900
Directors' compensation 267 261 521 515
Software depreciation and implementation 327 241 621 487
Write down of other assets and receivables     395  
Insurance expense 448 38 895 72
Other 1,161 765 2,075 1,538
Total noninterest expense 11,343 9,528 22,754 18,741
Income before income tax expense 7,809 4,509 15,560 10,469
Income tax expense 2,190 1,343 4,416 3,006
Net income $ 5,619 $ 3,166 $ 11,144 $ 7,463
Earnings per share:        
Basic $ 0.34 $ 0.19 $ 0.68 $ 0.44
Diluted $ 0.33 $ 0.18 $ 0.66 $ 0.43
Weighted Average Shares:        
Basic 16,460,248 16,778,698 16,488,941 17,019,889
Diluted 16,882,933 17,338,662 16,957,186 17,442,411