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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and Dividend Income        
Loans, including fees $ 16,772 $ 16,320 $ 32,382 $ 32,912
Interest and dividends on investment securities 1,924 1,101 3,590 2,165
Interest on deposits with banks 78 23 138 45
Total Interest and Dividend Income 18,774 17,444 36,110 35,122
Interest Expense        
Deposits 819 640 1,332 1,442
Short-term borrowings 16 0 16 0
Long-term debt 371 369 725 736
Total Interest Expense 1,206 1,009 2,073 2,178
Net Interest Income 17,568 16,435 34,037 32,944
Provision for credit losses 425 291 875 586
Provision (recovery) for unfunded commitments 26 0 (5) 0
Net Interest Income After Provision For Credit Losses 17,117 16,144 33,167 32,358
Noninterest Income        
Gain on sale of assets 0 68 0 68
Net gains on sale of investment securities 0 0 0 586
Unrealized (losses) gains on equity securities (155) 13 (377) (72)
Income from bank owned life insurance 217 218 431 432
Net losses on sale of loans held for sale 1 0 (3) 0
Gains (losses) on sale of loans 209 0 209 (191)
Total Noninterest Income 1,424 1,856 2,875 4,216
Noninterest Expense        
Compensation and benefits 5,051 5,332 10,106 10,120
Occupancy expense 820 688 1,552 1,449
Advertising 159 148 223 227
Data processing expense 1,008 990 2,015 1,926
Professional fees 845 604 1,576 1,244
Depreciation of premises and equipment 150 135 299 282
FDIC Insurance 177 140 356 392
OREO valuation allowance and expenses 0 488 6 669
Core deposit intangible amortization 102 126 211 259
Fraud losses (recoveries) 30 (217) 70 1,112
Other expenses 996 944 2,004 1,846
Total Noninterest Expense 9,338 9,378 18,418 19,526
Income before income taxes 9,203 8,622 17,624 17,048
Income tax expense 2,369 2,190 4,502 4,317
Net Income $ 6,834 $ 6,432 $ 13,122 $ 12,731
Earnings Per Common Share        
Basic (in dollars per share) $ 1.21 $ 1.10 $ 2.32 $ 2.17
Diluted (in dollars per share) 1.21 1.10 2.31 2.17
Cash dividends paid per common share (in dollars per share) $ 0.175 $ 0.150 $ 0.35 $ 0.28
Loan appraisal, credit, and miscellaneous charges        
Noninterest Income        
Noninterest Income $ 44 $ 44 $ 220 $ 242
Service charges        
Noninterest Income        
Noninterest Income 1,108 892 2,034 2,079
Referral fee income        
Noninterest Income        
Noninterest Income $ 0 $ 621 $ 361 $ 1,072