XML 71 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income:    
Loans $ 36,201 $ 34,877
Securities 930 1,196
Other earning assets 2,679 1,587
Total interest income 39,810 37,660
Interest expense:    
Deposits 7,350 5,688
Borrowings and subordinated debentures 1,953 2,915
Total interest expense 9,303 8,603
Net interest income 30,507 29,057
Reversal of provision for loan losses (500) (300)
Net interest income after reversal of provision for loan losses 31,007 29,357
Noninterest income:    
Mortgage-banking revenue 3,747 2,561
Real estate commissions 1,834 1,707
Real estate management fees 627 674
Deposit service charges 2,189 1,552
Title company revenue 1,126 1,045
ATM surcharges 239 195
Income from bank owned life insurance 152 161
Other noninterest income 350 534
Total noninterest income 10,264 8,429
Noninterest expense:    
Compensation and related expenses 19,738 17,819
Occupancy 1,703 1,555
Legal fees 157 149
Write-downs, losses, and costs of real estate acquired through foreclosure, net of gains 172 83
Federal Deposit Insurance Corporation insurance premiums 116 229
Professional fees 1,147 498
Advertising 936 1,021
Data processing 1,508 1,098
Credit report and appraisal fees 198 185
Licensing and software 946 596
Internal audit and compliance 338 242
Office expenses, printing, and postage 356 420
Telecommunications 378 326
Other noninterest expense 1,968 2,019
Total noninterest expense 29,661 26,240
Net income before income tax provision 11,610 11,546
Income tax provision 3,236 2,977
Net income 8,374 8,569
Dividends on preferred stock   (70)
Net income available to common stockholders $ 8,374 $ 8,499
Net income per common share - basic (in dollars per share) $ 0.66 $ 0.68
Net income per common share - diluted (in dollars per share) $ 0.65 $ 0.67