XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST INCOME:        
Interest and fees on loans $ 14,379 $ 14,872 $ 44,428 $ 44,072
With a readily determinable fair value 13 15 40 47
Without a readily determinable fair value 5 16 33 48
Taxable 633 918 2,250 2,720
Non-taxable 249 379 788 1,340
Interest Income, Other Domestic Deposits 0 3 0 11
Other investments 43 126 296 532
TOTAL INTEREST INCOME 15,322 16,329 47,835 48,770
INTEREST EXPENSE:        
Interest on deposits 1,567 2,475 5,416 7,225
Interest on short-term borrowings 0 3 7 224
Interest on long-term debt 226 273 707 762
TOTAL INTEREST EXPENSE 1,793 2,751 6,130 8,211
NET INTEREST INCOME 13,529 13,578 41,705 40,559
PROVISION FOR LOAN LOSSES 976 264 2,165 213
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,553 13,314 39,540 40,346
NON-INTEREST INCOME:        
Fiduciary income 1,275 1,123 3,579 3,215
Service charges and fees on deposit accounts 1,506 1,616 4,038 4,421
Realized (gain) loss from sales of debt securities, available-for-sale 0 20 (221) 37
Bank owned life insurance income 275 289 1,163 654
Gains from sales of loans 999 114 1,436 207
Other operating income 223 234 999 666
TOTAL NON-INTEREST INCOME 4,278 3,356 11,436 9,126
NON-INTEREST EXPENSE:        
Salaries and employee benefits 6,863 6,403 20,279 18,808
Equipment expenses 341 322 917 866
Occupancy expense, net 740 751 2,145 2,258
State financial institutions tax 424 433 1,280 1,307
Marketing 471 410 906 1,009
Amortization of intangibles 263 263 783 780
FDIC insurance premiums (credit), net 112 (13) 142 225
Contracted services 435 455 1,312 1,394
Merger-related expenses 0 27 0 114
Other non-interest expense 2,002 1,930 6,084 5,702
TOTAL NON-INTEREST EXPENSE 11,653 10,982 33,841 32,515
INCOME BEFORE INCOME TAXES 5,178 5,688 17,135 16,957
PROVISION FOR INCOME TAXES 928 961 2,802 2,875
NET INCOME $ 4,250 $ 4,727 $ 14,333 $ 14,082
Dividends declared per common share (usd per share) $ 0.18 $ 0.17 $ 0.54 $ 0.51
Earnings per common share:        
Basic (usd per share) 0.33 0.36 1.11 1.07
Diluted (usd per share) $ 0.33 $ 0.36 $ 1.11 $ 1.07
Weighted average common shares outstanding:        
Basic (in shares) 12,937,865 12,932,950 12,934,987 13,135,134
Diluted (in shares) 12,937,901 12,937,145 12,935,388 13,139,100
Foreclosed Real Estate Expense $ 2 $ 1 $ (7) $ 52