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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST INCOME        
Loans, including fees $ 11,371 $ 11,930 $ 34,013 $ 34,849
Securities:        
Taxable 596 553 1,821 1,725
Tax-exempt 88 113 270 327
Federal funds sold   6 2 31
Interest-bearing deposit accounts 6 145 119 432
Certificates of deposit 9 18 37 57
Total interest income 12,070 12,765 36,262 37,421
INTEREST EXPENSE        
Deposits 2,104 3,123 7,364 9,019
Securities sold under repurchase agreements   4 3 11
Subordinated notes 510 142 1,531 417
Federal Home Loan Bank advances 50 465 374 1,784
Federal Reserve Bank advances 29   49  
Total interest expense 2,693 3,734 9,321 11,231
Net interest income 9,377 9,031 26,941 26,190
Provision for loan losses 869 495 5,673 871
Net interest income after provision for loan losses 8,508 8,536 21,268 25,319
NONINTEREST INCOME        
Secondary market sales and servicing 1,082 293 2,015 632
Increase in cash surrender value of bank owned life insurance 117 122 351 362
Net gains (losses) on sales and calls of available-for-sale securities   1 29 (1)
Net gains (losses) on disposition of other assets 12   5 (2)
Net gains (losses) gains on rabbi trust assets 74   (76) 130
Referral fees 86   1,052  
Other 8 15 54 44
Total noninterest income 2,286 1,200 5,870 3,585
NONINTEREST EXPENSE        
Salaries and employee benefits 3,801 3,666 11,267 11,532
Occupancy 700 805 2,156 2,510
Data processing 491 541 1,526 1,738
Bank franchise tax 256 209 770 655
Telecommunications and other technology 396 258 1,176 727
FDIC assessments 262 (7) 557 371
Foreclosed property 22 48 58 110
Consulting 54 156 195 418
Advertising and marketing 47 124 140 300
Directors’ fees 187 148 568 525
Audit and accounting 92 193 402 586
Legal (210) 20 135 130
Core deposit intangible amortization 134 164 425 517
Net other real estate owned losses 176 375 256 441
Goodwill impairment     10,374  
Merger-related 1,456   1,456  
Other 782 747 1,947 2,108
Total noninterest expense 8,646 7,447 33,408 22,668
Income (loss) before income taxes 2,148 2,289 (6,270) 6,236
Income tax expense 655 448 378 1,180
Net income (loss) $ 1,493 $ 1,841 $ (6,648) $ 5,056
Basic and diluted earnings (loss) per share $ 0.11 $ 0.14 $ (0.51) $ 0.39
Trust Management        
NONINTEREST INCOME        
Non-Interest Income $ 220 $ 201 $ 615 $ 621
Service Charges and Fees on Deposit Accounts        
NONINTEREST INCOME        
Non-Interest Income 155 243 529 727
Wealth Management        
NONINTEREST INCOME        
Non-Interest Income 350 185 824 654
Interchange Fees, Net        
NONINTEREST INCOME        
Non-Interest Income 149 108 378 330
Other Service Charges and Fees        
NONINTEREST INCOME        
Non-Interest Income $ 33 $ 32 $ 94 $ 88