XML 17 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Loans $ 23,554 $ 22,098 $ 46,921 $ 42,988
Investment securities 384 539 780 1,087
Federal funds sold and interest-bearing deposits with banks 53 451 155 625
Total interest income 23,991 23,088 47,856 44,700
Interest expense        
Deposits 3,627 6,175 8,802 11,550
Borrowings 590 374 1,184 793
Total interest expense 4,217 6,549 9,986 12,343
Net interest income 19,774 16,539 37,870 32,357
Provision for loan losses 10,200 300 16,200 600
Net interest income after provision for loan losses 9,574 16,239 21,670 31,757
Noninterest income        
Mortgage banking income 5,776 2,830 8,444 4,687
Service fees on deposit accounts 197 265 459 530
ATM and debit card income 394 443 793 823
Income from bank owned life insurance 270 222 540 438
Other income 2,570 330 2,889 606
Total noninterest income 9,207 4,090 13,125 7,084
Noninterest expenses        
Compensation and benefits 8,450 7,399 16,322 14,182
Occupancy 1,498 1,343 3,033 2,682
Outside service and data processing costs 1,228 1,045 2,420 2,005
Insurance 298 280 619 598
Professional fees 527 414 1,023 853
Marketing 101 236 359 496
Other 542 651 1,240 1,200
Total noninterest expenses 12,644 11,368 25,016 22,016
Income before income tax expense 6,137 8,961 9,779 16,825
Income tax expense 1,459 1,721 2,269 3,576
Net income available to common shareholders $ 4,678 $ 7,240 $ 7,510 $ 13,249
Earnings per common share        
Basic $ 0.61 $ 0.97 $ 0.98 $ 1.77
Diluted $ 0.60 $ 0.93 $ 0.96 $ 1.71
Weighted average common shares outstanding        
Basic 7,722,419 7,495,508 7,700,508 7,477,525
Diluted 7,818,651 7,755,821 7,822,912 7,748,879