XML 94 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest and fees on loans:    
Taxable $ 59,673 $ 51,407
Tax-exempt 187 123
Interest on securities:    
Taxable 2,708 2,408
Tax-exempt 343 338
Other interest income 1,473 1,101
Total interest income 64,384 55,377
INTEREST EXPENSE:    
Deposits 9,436 6,492
Borrowings 1,041 1,755
Total interest expense 10,477 8,247
Net interest income 53,907 47,130
Provision for loan losses 385 500
Net interest income after provision for loan losses 53,522 46,630
OTHER INCOME:    
Deposit service fees 1,586 1,441
Income from mortgage loans sold on the secondary market 1,889 1,289
SBA/USDA loan sale gains 908 661
Net mortgage servicing fees 193 197
Realized security gains 208  
Other 1,169 675
Total other income 5,953 4,263
OTHER EXPENSE:    
Salaries and employee benefits 22,743 20,064
Occupancy 4,069 3,640
Furniture and equipment 3,000 2,548
Data processing 2,717 2,503
Advertising 889 905
Professional service fees 2,100 1,575
Loan origination expenses and deposit and card related fees 1,546 1,166
Writedowns and losses on other real estate held for sale 212 182
FDIC insurance assessment 70 700
Communications 885 726
Transaction related expenses   2,951
Other 3,534 3,340
Total other expenses 41,765 40,300
Income before provision for income taxes 17,710 10,593
Provision for income taxes 3,860 2,226
NET INCOME $ 13,850 $ 8,367
INCOME PER COMMON SHARE:    
Basic (in dollars per share) $ 1.29 $ 0.94
Diluted (in dollars per share) $ 1.29 $ 0.94