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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Interest and fees on loans $ 13,667 $ 12,940 $ 39,496 $ 39,192
Interest on investment securities: Taxable 880 960 2,864 3,612
Interest on investment securities: Exempt from federal income tax 266 276 809 809
Total investment income 1,146 1,236 3,673 4,421
Other 97 77 239 360
Total interest income 14,910 14,253 43,408 43,973
Interest expense        
Interest on deposits 732 1,515 2,877 4,997
Interest on short-term borrowings 17 19 67 68
Interest on long-term borrowings 536 817 1,840 2,463
Total interest expense 1,285 2,351 4,784 7,528
Net interest income 13,625 11,902 38,624 36,445
Provision for loan losses (597) 160 68 4,981
Net interest income after provision for loan losses 14,222 11,742 38,556 31,464
Other operating income        
Net gains on investments, available for sale   575 154 622
Net gains on investments, held to maturity (54)   (54) 60
Gains on sale of residential mortgage loans 136 734 996 1,480
Gains/(losses) on disposal of fixed assets   (133) 16 (151)
Net gains 82 1,176 1,112 2,011
Total other income 4,523 3,978 13,586 11,411
Total other operating income 4,605 5,154 14,698 13,422
Other operating expenses        
Salaries and employee benefits 5,719 5,378 16,214 16,244
FDIC premiums 209 201 575 404
Equipment 1,032 978 2,837 2,871
Occupancy 684 707 2,102 2,200
Data processing 819 1,130 2,420 3,155
Marketing 129 122 408 405
Professional services 615 602 3,276 2,506
Contract labor 153 180 486 480
Line rentals 123 216 606 654
Other real estate owned 150 6 (460) 3
Investor relations 116 54 546 1,160
Settlement expense     3,300  
FHLB prepayment penalty 2,368   2,368  
Other 910 966 2,308 2,890
Total other operating expenses 13,027 10,540 36,986 32,972
Income before income tax expense 5,800 6,356 16,268 11,914
Provision for income tax expense 1,412 1,396 4,047 2,629
Net Income $ 4,388 $ 4,960 $ 12,221 $ 9,285
Basic net income per share $ 0.66 $ 0.70 $ 1.81 $ 1.32
Diluted net income per share $ 0.66 $ 0.70 $ 1.81 $ 1.32
Weighted average number of basic shares outstanding 6,617 6,988 6,741 7,008
Weighted average number of diluted shares outstanding 6,624 6,993 6,746 7,019
Dividends declared per common share $ 0.15 $ 0.13 $ 0.45 $ 0.39
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 475 $ 447 $ 1,292 $ 1,439
Other Service Charges [Member]        
Other operating income        
Total other income 232 195 664 517
Trust Department [Member]        
Other operating income        
Total other income 2,166 1,871 6,441 5,355
Debit Card Income [Member]        
Other operating income        
Total other income 900 738 2,623 2,052
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 298 373 877 961
Brokerage Commissions [Member]        
Other operating income        
Total other income 229 234 854 713
Other [Member]        
Other operating income        
Total other income $ 223 $ 120 $ 835 $ 374