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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and dividend income        
Interest and fees on loans $ 8,803 $ 8,502 $ 25,659 $ 24,604
Interest on debt securities:        
Taxable 305 409 1,029 1,271
Tax exempt 160 131 477 373
Dividends 27 33 87 105
Interest on federal funds sold and overnight deposits 7 19 71 130
Interest on interest bearing deposits in banks 41 46 122 153
Total interest and dividend income 9,343 9,140 27,445 26,636
Interest expense        
Interest on deposits 1,101 1,198 3,662 3,439
Interest on borrowed funds 57 295 314 678
Total interest expense 1,158 1,493 3,976 4,117
    Net interest income 8,185 7,647 23,469 22,519
Provision for loan losses 800 150 1,600 350
    Net interest income after provision for loan losses 7,385 7,497 21,869 22,169
Noninterest income        
Trust income 173 168 524 519
Service fees 1,539 1,617 4,320 4,547
Net gains on sales of investment securities available-for-sale 0 0 11 8
Net gains on sales of loans held for sale 3,315 824 5,354 1,881
Net gain (loss) on other investments 76 (9) 114 72
Other income 405 123 691 399
Total noninterest income 5,508 2,723 11,014 7,426
Noninterest expenses        
Salaries and wages 3,718 3,072 9,668 8,773
Employee benefits 1,204 1,047 3,417 3,108
Occupancy expense, net 420 428 1,411 1,287
Equipment expense 770 625 2,266 1,764
Other expenses 1,883 1,833 5,516 5,400
Total noninterest expenses 7,995 7,005 22,278 20,332
        Income before provision for income taxes 4,898 3,215 10,605 9,263
Provision for income taxes 751 477 1,594 1,374
        Net income $ 4,147 $ 2,738 $ 9,011 $ 7,889
Earnings per common share (in usd per share) $ 0.92 $ 0.62 $ 2.01 $ 1.77
Weighted average number of common shares outstanding (in shares) 4,475,145 4,468,400 4,474,061 4,467,845
Dividends per common share (in usd per share) $ 0.32 $ 0.31 $ 0.96 $ 0.93