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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Interest and fees on loans $ 15,484 $ 14,139 $ 44,231 $ 41,879
Interest and dividends on investment securities:        
Taxable 1,318 730 3,343 2,087
Interest on deposits with other banks 97 33 199 216
Total interest income 16,899 14,902 47,773 44,182
INTEREST EXPENSE        
Interest on deposits 949 1,470 3,189 5,085
Interest on short-term borrowings 2 1 5 4
Interest on long-term borrowings 359 148 1,088 261
Total interest expense 1,310 1,619 4,282 5,350
NET INTEREST INCOME 15,589 13,283 43,491 38,832
Provision for credit losses 290 1,500 1,365 2,850
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 15,299 11,783 42,126 35,982
NONINTEREST INCOME        
Service charges on deposit accounts 805 647 2,162 2,057
Trust and investment fee income 477 381 1,359 1,119
Gains on sales and calls of investment securities 2   2 347
Other noninterest income 1,625 1,553 4,846 4,179
Total noninterest income 2,909 2,581 8,369 7,702
NONINTEREST EXPENSE        
Salaries and wages 5,091 4,143 13,495 10,569
Employee benefits 1,654 1,489 4,991 4,746
Occupancy expense 843 774 2,427 2,174
Furniture and equipment expense 449 294 1,168 858
Data processing 1,170 1,114 3,514 3,195
Directors' fees 147 132 450 386
Amortization of other intangible assets 107 125 353 407
FDIC insurance premium expense 245 132 653 347
Other real estate owned expenses, net 4   6 18
Legal and professional fees 428 447 1,592 1,634
Merger-related expenses 538   915  
Other noninterest expenses 1,259 1,181 3,745 3,509
Total noninterest expense 11,935 9,831 33,309 27,843
Income before income taxes 6,273 4,533 17,186 15,841
Income tax expense 1,657 1,142 4,541 3,997
NET INCOME $ 4,616 $ 3,391 $ 12,645 $ 11,844
Earnings per common share - Basic and diluted        
Earnings per common share - Basic and diluted $ 0.39 $ 0.27 $ 1.08 $ 0.95
Dividends paid per common share $ 0.12 $ 0.12 $ 0.36 $ 0.36