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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME ON:        
Loans, including fees $ 14,119 $ 13,381 $ 40,222 $ 39,619
Investment securities:        
Taxable 607 310 1,519 757
Tax -Exempt 180 216 545 661
Federal funds sold 353 25 433 44
Other interest income 1,198 149 1,914 404
TOTAL INTEREST INCOME 16,457 14,081 44,633 41,485
INTEREST EXPENSE ON:        
Deposits 1,071 1,639 3,440 5,234
Borrowings 511 538 1,524 1,723
TOTAL INTEREST EXPENSE 1,582 2,177 4,964 6,957
NET INTEREST INCOME 14,875 11,904 39,669 34,528
Provisions for credit losses 419 (30) 803 2,568
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 14,456 11,934 38,866 31,960
OTHER INCOME:        
Service charges on deposit accounts 255 225 727 575
Gain on sales and calls of investment securities (5) 3 (5) 22
Mortgage banking income, net 231 957 949 3,065
Gain on disposal of other assets, net       1
Impairment (loss) on restricted stock     (1)  
Other income 760 891 2,316 2,880
TOTAL OTHER INCOME 1,241 2,076 3,986 6,543
OTHER EXPENSES:        
Salaries and employee benefits 5,688 5,837 16,767 16,783
Premises and equipment 1,411 1,313 4,292 3,789
Amortization of core deposit intangible 128 148 394 455
(Gains) losses and expenses on other real estate owned, net   35 (9) 183
Merger related expenses 167   720  
Other expenses 2,953 3,026 8,484 9,074
TOTAL OTHER EXPENSES 10,347 10,359 30,648 30,284
INCOME BEFORE TAXES ON INCOME 5,350 3,651 12,204 8,219
Federal and state income taxes 1,292 839 2,914 1,847
NET INCOME 4,058 2,812 9,290 6,372
Net (income) loss attributable to noncontrolling interest 52 (116) 108 (426)
NET INCOME ATTRIBUTABLE TO PARTNERS BANCORP $ 4,110 $ 2,696 $ 9,398 $ 5,946
Earnings per common share        
Basic earnings per share $ 0.229 $ 0.152 $ 0.523 $ 0.335
Diluted earnings per share $ 0.228 $ 0.151 $ 0.522 $ 0.334