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Consolidated Statement of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans $ 13,413 $ 12,496 $ 26,252 $ 24,686
Interest on investment securities: Taxable 1,344 1,450 2,652 2,917
Interest on investment securities: Exempt from federal income tax 273 242 533 522
Total investment income 1,617 1,692 3,185 3,439
Other 74 223 283 358
Total interest income 15,104 14,411 29,720 28,483
Interest expense        
Interest on deposits 1,612 1,965 3,482 3,736
Interest on short-term borrowings 21 28 49 131
Interest on long-term borrowings 815 891 1,646 1,743
Total interest expense 2,448 2,884 5,177 5,610
Net interest income 12,656 11,527 24,543 22,873
Provision for loan losses 2,167 333 4,821 682
Net interest income after provision for loan losses 10,489 11,194 19,722 22,191
Other operating income        
Net gains 794 81 835 95
Total other income 3,425 3,858 7,433 7,565
Total other operating income 4,219 3,939 8,268 7,660
Other operating expenses        
Salaries and employee benefits 4,943 6,146 10,866 12,364
FDIC premiums 160 183 203 294
Equipment 967 936 1,893 1,819
Occupancy 746 706 1,493 1,418
Data processing 973 1,054 2,025 1,995
Marketing 153 96 283 164
Professional services 1,181 318 1,904 522
Contract labor 149 175 300 331
Line rentals 221 198 438 415
Other real estate owned (3) 786 (3) 929
Investor relations 1,013 62 1,106 109
Other 924 1,081 1,924 2,071
Total other operating expenses 11,427 11,741 22,432 22,431
Income before income tax expense 3,281 3,392 5,558 7,420
Provision for income tax expense 711 790 1,233 1,667
Net Income $ 2,570 $ 2,602 $ 4,325 $ 5,753
Basic net income per common share $ 0.37 $ 0.37 $ 0.62 $ 0.81
Diluted net income per common share $ 0.37 $ 0.37 $ 0.62 $ 0.81
Weighted average number of basic shares outstanding 6,974,000 7,100,000 7,018,000 7,094,000
Weighted average number of diluted shares outstanding 6,992,000 7,100,000 7,032,000 7,094,000
Dividends declared per common share $ 0.13 $ 0.09 $ 0.26 $ 0.18
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 377 $ 504 $ 992 $ 1,023
Other Service Charges [Member]        
Other operating income        
Total other income 32 225 322 433
Trust Department [Member]        
Other operating income        
Total other income 1,731 1,832 3,484 3,547
Debit Card Income [Member]        
Other operating income        
Total other income 680 676 1,314 1,276
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 285 288 588 591
Brokerage Commissions [Member]        
Other operating income        
Total other income 202 203 479 441
Other [Member]        
Other operating income        
Total other income $ 118 $ 130 $ 254 $ 254