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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and Dividend Income      
Loans, including fees $ 65,602 $ 59,755 $ 49,611
Interest and dividends on investment securities 6,414 5,153 3,906
Interest on deposits with banks 437 265 53
Total Interest and Dividend Income 72,453 65,173 53,570
Interest Expense      
Deposits 15,378 10,682 5,946
Short-term borrowings 774 767 1,057
Long-term debt 2,767 2,837 3,179
Total Interest Expense 18,919 14,286 10,182
Net interest income 53,534 50,887 43,388
Provision for loan losses 2,130 1,405 1,010
Net interest income after provision 51,404 49,482 42,378
Noninterest Income      
Gain on sale of assets 0 1 47
Net gains on sale of investment securities 226 0 175
Unrealized gain (loss) on equity securities (134) 81 0
Gain (loss) on disposition of property plant equipment (1) 0 0
Income from bank owned life insurance 885 902 773
Gain on sale of loans held for sale 0 0 294
Total Noninterest Income 5,766 4,068 4,041
Noninterest Expense      
Salary and employee benefits 20,445 19,548 16,758
Occupancy expense 3,101 3,116 2,632
Advertising 762 671 543
Data processing expense 3,048 3,020 2,354
Professional fees 2,196 1,513 1,662
Merger and acquisition costs 0 3,625 829
Depreciation of premises and equipment 685 810 786
Telephone communications 203 277 191
Office supplies 149 149 119
FDIC Insurance 334 654 638
OREO valuation allowance and expenses 963 657 703
Core deposit intangible amortization 688 784 0
Other 3,659 3,325 2,839
Total Noninterest Expense 36,233 38,149 30,054
Income before income taxes 20,937 15,401 16,365
Income tax expense 5,665 4,173 9,157
Net Income $ 15,272 $ 11,228 $ 7,208
Earnings Per Common Share      
Basic $ 2.75 $ 2.02 $ 1.56
Diluted (in dollars per share) 2.75 2.02 1.56
Cash dividends paid per common share (in dollars per share) $ 0.5 $ 0.4 $ 0.4
Bank Servicing [Member]      
Interest Expense      
Revenue from contract with customer $ 335 $ 183 $ 157
Deposit Account [Member]      
Interest Expense      
Revenue from contract with customer 3,308 3,063 2,595
Referral Fee Income [Member]      
Interest Expense      
Revenue from contract with customer $ 879 $ 0 $ 0