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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and dividend income        
Loans and leases, including fees $ 13,414 $ 9,759 $ 26,055 $ 19,511
Securities 166 42 299 85
FHLB and FRB stock dividends 57 50 112 94
Federal funds sold and other 24 17 52 124
Total interest and dividend income 13,661 9,868 26,518 19,814
Interest expense        
Deposits 2,108 3,001 4,605 6,317
FHLB advances and other debt 288 344 807 604
Subordinated debentures 225 240 449 487
Total interest expense 2,621 3,585 5,861 7,408
Net interest income 11,040 6,283 20,657 12,406
Provision for loan and lease losses (1,600) 3,125 (1,600) 3,125
Net interest income after provision for loan and lease losses 12,640 3,158 22,257 9,281
Noninterest income        
Service charges on deposit accounts 206 139 399 290
Net gains (losses) on sales of residential mortgage loans (744) 19,576 5,616 22,420
Net gains on sales of SBA loans 1,159 49 1,159 49
Swap fee income   14 182 407
Gain on redemption of life insurance policies 3   383  
Earnings on bank owned life insurance 138 36 228 72
Other 189 42 214 62
Total noninterest income 951 19,856 8,181 23,300
Noninterest expense        
Salaries and employee benefits 4,551 6,250 9,160 9,295
Occupancy and equipment 259 247 581 500
Data processing 524 427 1,060 874
Franchise and other taxes 243 184 482 363
Professional fees 1,381 1,182 2,596 2,187
Director fees 158 221 310 379
Postage, printing and supplies 47 58 86 116
Advertising and marketing 1,283 1,248 2,527 2,523
Telephone 67 52 126 106
Loan expenses 31 65 88 162
Depreciation 106 94 203 180
FDIC premiums 380 134 619 291
Regulatory assessment 65 45 130 90
Other insurance 40 27 68 54
Other 132 79 200 237
Total noninterest expense 9,267 10,313 18,236 17,357
Income before incomes taxes 4,324 12,701 12,202 15,224
Income tax expense 835 2,633 2,292 3,150
Net income 3,489 10,068 9,910 12,074
Earnings allocated to participating securities (Series C preferred stock)   (1,218)   (1,866)
Net income attributable to common stockholders $ 3,489 $ 8,850 $ 9,910 $ 10,208
Earnings per common share:        
Basic $ 0.53 $ 1.54 $ 1.52 $ 1.84
Diluted $ 0.52 $ 1.53 $ 1.48 $ 1.82