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Consolidated Statements of Income (Unaudited) - 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 $ 8,565 $ 8,200 $ 16,856 $ 16,102
Interest on debt securities:        
Taxable 337 461 724 862
Tax exempt 160 111 317 242
Dividends 26 30 60 72
Interest on federal funds sold and overnight deposits 11 50 64 111
Interest on interest bearing deposits in banks 40 52 81 107
Total interest and dividend income 9,139 8,904 18,102 17,496
Interest expense        
Interest on deposits 1,252 1,176 2,561 2,241
Interest on borrowed funds 109 221 257 383
Total interest expense 1,361 1,397 2,818 2,624
Net interest income 7,778 7,507 15,284 14,872
Provision for loan losses 500 150 800 200
Net interest income after provision for loan losses 7,278 7,357 14,484 14,672
Noninterest income        
Trust Income 178 183 351 351
Service fees 1,284 1,504 2,781 2,930
Net gains on sales of investment securities available-for-sale 0 4 11 8
Net gains on sales of loans held for sale 1,227 683 2,039 1,057
Net gain on other investments 162 19 38 81
Other income 137 78 286 276
Total noninterest income 2,988 2,471 5,506 4,703
Noninterest expenses        
Salaries and wages 2,829 2,903 5,950 5,701
Employee benefits 1,231 1,062 2,213 2,061
Occupancy expense, net 477 421 991 859
Equipment expense 756 574 1,496 1,139
Other expenses 1,818 1,840 3,633 3,567
Total noninterest expenses 7,111 6,800 14,283 13,327
Income before provision for income taxes 3,155 3,028 5,707 6,048
Provision for income taxes 487 498 843 897
Net income $ 2,668 $ 2,530 $ 4,864 $ 5,151
Earnings per common share $ 0.60 $ 0.56 $ 1.09 $ 1.15
Weighted average number of common shares outstanding 4,474,139 4,467,748 4,473,512 4,467,563
Dividends per common share $ 0.32 $ 0.31 $ 0.64 $ 0.62