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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - 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 $ 9,010 $ 9,236 $ 17,484 $ 18,121
Interest on debt securities:        
Taxable 1,038 456 2,010 860
Tax exempt 221 154 443 305
Dividends 4 4 10 8
Interest on federal funds sold and overnight deposits 94 14 113 33
Interest on interest bearing deposits in banks 37 34 70 71
Total interest and dividend income 10,404 9,898 20,130 19,398
Interest expense        
Interest on deposits 591 924 1,212 1,971
Interest on borrowed funds 0 55 0 109
Interest on subordinated notes 142 0 284 0
Total interest expense 733 979 1,496 2,080
    Net interest income 9,671 8,919 18,634 17,318
Provision for loan losses 0 75 0 225
    Net interest income after provision for loan losses 9,671 8,844 18,634 17,093
Noninterest income        
Trust income 217 198 426 383
Service fees 1,738 1,581 3,373 3,104
Net gains on sales of investment securities available-for-sale 5 0 31 0
Net gains on sales of loans held for sale 286 1,151 300 2,045
Net (losses) gains on other investments (142) 15 (60) 59
Other income 61 194 150 169
Total noninterest income 2,165 3,139 4,220 5,760
Noninterest expenses        
Salaries and wages 3,520 3,553 6,930 6,636
Employee benefits 1,295 1,203 2,600 2,372
Occupancy expense, net 462 527 989 1,004
Equipment expense 934 872 1,850 1,670
Other expenses 2,084 2,234 4,040 4,160
Total noninterest expenses 8,295 8,389 16,409 15,842
        Income before provision for income taxes 3,541 3,594 6,445 7,011
Provision for income taxes 610 603 1,032 1,144
        Net income $ 2,931 $ 2,991 $ 5,413 $ 5,867
Basic earnings per common share (in usd per share) $ 0.65 $ 0.67 $ 1.20 $ 1.31
Diluted earnings per common share (in usd per share) $ 0.65 $ 0.66 $ 1.20 $ 1.30
Weighted average number of common shares outstanding (in shares) 4,494,027 4,482,597 4,494,447 4,481,475
Weighted average common and potential common shares for diluted EPS (in shares) 4,513,411 4,511,169 4,510,106 4,506,150
Dividends per common share (in usd per share) $ 0.35 $ 0.33 $ 0.70 $ 0.66