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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 16,328 $ 15,448 $ 44,831 $ 44,311
Interest and fees on loans held for sale 23 24 69 79
Interest on investment securities:        
Taxable 781 679 2,361 2,057
Nontaxable 621 493 1,822 1,114
Federal funds sold 0 1 5 6
Other interest-bearing deposits and certificates of deposit in other banks 76 78 179 263
Dividends on other investments 64 81 204 246
Total interest income 17,893 16,804 49,471 48,076
Interest on deposits:        
Savings, interest checking and money market 1,382 280 2,275 865
Time deposit accounts $250,000 and over 345 117 588 473
Time deposits 239 320 709 1,139
Total interest expense on deposits 1,966 717 3,572 2,477
Interest on federal funds purchased and securities sold under agreements to repurchase 13 19 32 72
Interest on Federal Home Loan Bank advances 277 383 778 1,164
Interest on subordinated notes 570 305 1,316 921
Total interest expense on borrowings 860 707 2,126 2,157
Total interest expense 2,826 1,424 5,698 4,634
Net interest income 15,067 15,380 43,773 43,442
Provision for (release of) loan losses 300 300 (1,000) 700
Net interest income after provision for (release of) loan losses 14,767 15,080 44,773 42,742
NON-INTEREST INCOME        
Gain on sale of mortgage loans, net 628 1,369 2,322 5,881
Other 464 203 1,376 514
Total non-interest income 3,485 3,776 10,859 13,010
Investment securities gains (losses), net 1 126 (12) 140
NON-INTEREST EXPENSE        
Salaries and employee benefits 6,750 6,665 20,251 20,766
Occupancy expense, net 789 808 2,339 2,298
Furniture and equipment expense 774 787 2,301 2,284
Processing, network, and bank card expense 1,261 1,288 3,545 3,520
Legal, examination, and professional fees 395 357 1,210 1,146
Advertising and promotion 430 310 1,027 862
Postage, printing, and supplies 237 218 653 608
Loan expense 123 209 426 612
Other 1,436 1,127 4,210 3,295
Total non-interest expense 12,195 11,769 35,962 35,391
Income before income taxes 6,058 7,213 19,658 20,501
Income tax expense 1,131 1,417 3,633 3,974
Net income $ 4,927 $ 5,796 $ 16,025 $ 16,527
Basic earnings per share (in dollars per share) $ 0.73 $ 0.84 $ 2.36 $ 2.40
Diluted earnings per share (in dollars per share) $ 0.73 $ 0.84 $ 2.36 $ 2.40
Service charges and other fees        
NON-INTEREST INCOME        
Income from fees $ 693 $ 782 $ 2,322 $ 2,285
Bank card income and fees        
NON-INTEREST INCOME        
Income from fees 1,030 1,043 3,054 2,925
Trust department income        
NON-INTEREST INCOME        
Income from fees 287 308 924 910
Real estate servicing fees, net        
NON-INTEREST INCOME        
Income from fees $ 383 $ 71 $ 861 $ 495