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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and Dividend Income        
Loans, including fees $ 16,277 $ 16,366 $ 32,779 $ 32,495
Interest and dividends on investment securities 1,341 1,677 2,810 3,300
Interest on deposits with banks 20 75 88 120
Total Interest and Dividend Income 17,638 18,118 35,677 35,915
Interest Expense        
Deposits 1,937 3,966 4,981 7,734
Short-term borrowings 28 235 97 569
Long-term debt 449 658 1,022 1,316
Total Interest Expense 2,414 4,859 6,100 9,619
Net Interest Income 15,224 13,259 29,577 26,296
Provision for loan losses 3,500 375 7,600 875
Net Interest Income After Provision For Loan Losses 11,724 12,884 21,977 25,421
Noninterest Income        
Net gains on sale of investment securities 112 0 441 0
Unrealized gain on equity securities 40 65 115 121
Income from bank owned life insurance 220 222 439 439
Total Noninterest Income 2,259 1,253 4,380 2,314
Noninterest Expense        
Compensation and benefits 4,714 4,881 9,902 9,684
Occupancy expense 736 753 1,470 1,559
Advertising 130 163 251 360
Data processing expense 924 755 1,852 1,475
Professional fees 477 606 1,103 1,024
Depreciation of premises and equipment 151 166 309 355
Telephone communications 53 66 96 118
Office supplies 30 33 61 70
FDIC Insurance 260 160 430 335
OREO valuation allowance and expenses 1,100 432 1,882 488
Core deposit intangible amortization 151 175 308 356
Other 671 926 1,416 1,697
Total Noninterest Expense 9,397 9,116 19,080 17,521
Income before income taxes 4,586 5,021 7,277 10,214
Income tax expense 1,136 1,394 1,079 2,710
Net Income $ 3,450 $ 3,627 $ 6,198 $ 7,504
Earnings Per Common Share        
Basic (in dollars per share) $ 0.59 $ 0.65 $ 1.05 $ 1.35
Diluted (in dollars per share) $ 0.59 $ 0.65 $ 1.05 $ 1.35
Loan appraisal, credit, and miscellaneous charges        
Noninterest Income        
Noninterest Income $ 35 $ 38 $ 49 $ 96
Service charges        
Noninterest Income        
Noninterest Income 709 828 1,691 1,558
Referral Fee Income        
Noninterest Income        
Noninterest Income $ 1,143 $ 100 $ 1,645 $ 100