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Consolidated Statements of Income - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and dividend income:    
Loans, including fees $ 5,108,000 $ 4,777,000
Taxable securities 1,377,000 1,006,000
Tax-exempt securities 40,000 38,000
Other interest income 7,000 5,000
Total interest income 6,532,000 5,826,000
Interest expense:    
Deposits 462,000 619,000
Short-term borrowings and repurchase agreements 13,000 32,000
FRB advances 0 18,000
Long-term debt 116,000 212,000
Other interest bearing liabilities 1,000 2,000
Total interest expense 592,000 883,000
Net interest income 5,940,000 4,943,000
Provision for loan losses 28,000 (79,000)
Net interest income after provision for loan losses 5,912,000 5,022,000
Non-interest income:    
Earnings on bank-owned life insurance and annuities 52,000 54,000
Gain on sales and calls of securities 0 4,000
Change in value of equity securities (23,000) 93,000
Other non-interest income 84,000 79,000
Total non-interest income 1,276,000 1,272,000
Non-interest expense:    
Employee compensation expense 2,022,000 1,969,000
Employee benefits 701,000 545,000
Occupancy 331,000 330,000
Equipment 175,000 189,000
Data processing expense 579,000 583,000
Professional fees 176,000 188,000
Taxes, other than income 131,000 124,000
FDIC Insurance premiums 92,000 81,000
Gain on other real estate owned (7,000) (49,000)
Amortization of intangible assets 13,000 16,000
Amortization of investment in low income housing partnerships 200,000 200,000
Other non-interest expense 451,000 412,000
Total non-interest expense 4,864,000 4,588,000
Income before income taxes 2,324,000 1,706,000
Income tax provision 209,000 71,000
Net income $ 2,115,000 $ 1,635,000
Earnings per share    
Basic $ 0.42 $ 0.33
Diluted $ 0.42 $ 0.33
Customer Service Fees [Member]    
Non-interest income:    
Non-interest income $ 357,000 $ 325,000
Debit Card fee Income [Member]    
Non-interest income:    
Non-interest income 410,000 413,000
Trust Fees [Member]    
Non-interest income:    
Non-interest income 155,000 112,000
Commissions from Sales of Non-Deposit Products [Member]    
Non-interest income:    
Non-interest income 104,000 80,000
Fees Derived From Loan Activity [Member]    
Non-interest income:    
Non-interest income 130,000 104,000
Mortgage Banking Income [Member]    
Non-interest income:    
Non-interest income $ 7,000 $ 8,000