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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and dividend income    
Loans and leases, including fees $ 9,752 $ 7,490
Securities 43 42
FHLB and FRB stock dividends 44 54
Federal funds sold and other 107 355
Total interest and dividend income 9,946 7,941
Interest expense    
Deposits 3,316 2,433
FHLB advances and other debt 260 151
Subordinated debentures 247 257
Total interest expense 3,823 2,841
Net interest income 6,123 5,100
Provision for loan and lease losses
Net interest income after provision for loan and lease losses 6,123 5,100
Noninterest income    
Service charges on deposit accounts 151 124
Net gains on sales of loans 2,844 1,503
Swap fee income 393  
Earnings on bank owned life insurance 36 34
Other 20 33
Total noninterest income 3,444 1,694
Noninterest expense    
Salaries and employee benefits 3,045 2,501
Occupancy and equipment 253 218
Data processing 447 316
Franchise and other taxes 179 106
Professional fees 1,005 288
Director fees 158 131
Postage, printing and supplies 58 67
Advertising and marketing 1,275 626
Telephone 54 45
Loan expenses 97 46
Foreclosed assets, net   (9)
Depreciation 86 71
FDIC premiums 157 152
Regulatory assessment 45 42
Other insurance 27 23
Other 158 71
Total noninterest expense 7,044 4,694
Income before incomes taxes 2,523 2,100
Income tax expense 517 419
Net income 2,006 1,681
Accretion of discount and value of warrants exercised related to Series B preferred stock [1]   26
Earnings allocated to participating securities (Series C preferred stock) (377)  
Net income attributable to common stockholders $ 1,629 $ 1,707
Earnings per common share:    
Basic $ 0.31 $ 0.39
Diluted $ 0.30 $ 0.39
[1] All outstanding warrants expired on July 15, 2019.