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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and Dividend Income        
Loans, including fees $ 16,176 $ 16,542 $ 48,955 $ 49,037
Interest and dividends on investment securities 1,269 1,606 4,079 4,906
Interest on deposits with banks 38 111 126 231
Total Interest and Dividend Income 17,483 18,259 53,160 54,174
Interest Expense        
Deposits 1,534 3,867 6,515 11,601
Short-term borrowings 14 140 111 709
Long-term debt 567 727 1,589 2,043
Total Interest Expense 2,115 4,734 8,215 14,353
Net Interest Income 15,368 13,525 44,945 39,821
Provision for loan losses 2,500 450 10,100 1,325
Net Interest Income After Provision For Loan Losses 12,868 13,075 34,845 38,496
Noninterest Income        
Gain on sale of assets 6 0 6 0
Net gains on sale of investment securities 229 0 670 0
Unrealized gain on equity securities 0 35 115 156
Income from bank owned life insurance 222 223 661 662
Total Noninterest Income 1,666 1,239 6,046 3,553
Noninterest Expense        
Compensation and benefits 5,099 5,353 15,001 15,037
Occupancy expense 734 730 2,204 2,289
Advertising 129 250 380 610
Data processing expense 990 793 2,842 2,268
Professional fees 652 523 1,755 1,547
Depreciation of premises and equipment 142 165 451 520
Telephone communications 43 46 139 164
Office supplies 31 34 92 104
FDIC Insurance 249 2 679 337
OREO valuation allowance and expenses 421 263 2,303 751
Core deposit intangible amortization 144 169 452 525
Other 817 896 2,233 2,593
Total Noninterest Expense 9,451 9,224 28,531 26,745
Income before income taxes 5,083 5,090 12,360 15,304
Income tax expense 1,284 1,397 2,363 4,107
Net Income $ 3,799 $ 3,693 $ 9,997 $ 11,197
Earnings Per Common Share        
Basic (in dollars per share) $ 0.64 $ 0.66 $ 1.70 $ 2.01
Diluted (in dollars per share) $ 0.64 $ 0.66 $ 1.70 $ 2.01
Loan appraisal, credit, and miscellaneous charges        
Noninterest Income        
Noninterest Income $ 49 $ 109 $ 98 $ 204
Service charges        
Noninterest Income        
Noninterest Income 839 834 2,530 2,392
Referral Fee Income        
Noninterest Income        
Noninterest Income $ 321 $ 38 $ 1,966 $ 139