Summary of Quarterly Results of Operation (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operation (unaudited)

Summary of Quarterly Results of Operations (unaudited)

The following table sets forth the results of operations for the four quarters of 2020 and 2019, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods.

	2020 Quarters Ended
	December 31,		September 30,		June 30,		March 31,
	(dollars in thousands, except per share data)
Interest income:
Loans, including fees	$	8,672	$	7,563	$	7,713	$	8,346
Investment securities, interest bearing cash at Banks	369		405		394		995
Total interest income	9,041		7,968		8,107		9,341
Interest expense	499		500		530		761
Net interest income	8,542		7,468		7,577		8,580
Provision for credit losses	631		4		427		1,707
Net interest income after provision for credit losses	7,911		7,464		7,150		6,873
Noninterest income	467		911		1,216		2,580
Noninterest expense	5,805		5,210		5,554		5,591
Income before provision for taxes	2,573		3,165		2,812		3,862
Provision for taxes on income	651		894		798		1,108
Net income	$	1,922	$	2,271	$	2,014	$	2,754
Net income per common share
Basic	$	0.11	$	0.13	$	0.12	$	0.16
Diluted	$	0.11	$	0.13	$	0.12	$	0.16

	2019 Quarters Ended
	December 31,		September 30,		June 30,		March 31,
	(dollars in thousands, except per share data)
Interest income:
Loans, including fees	$	8,872	$	8,648	$	8,443	$	8,642
Investment securities, interest bearing cash at Banks	1,266		1,769		1,867		1,775
Total interest income	10,138		10,417		10,310		10,417
Interest expense	862		1,061		1,008		957
Net interest income	9,276		9,356		9,302		9,460
Provision for credit losses	5		5		4		6
Net interest income after provision for credit losses	9,271		9,351		9,298		9,454
Noninterest income	647		1,853		1,731		1,523
Noninterest expense	5,915		5,335		5,262		5,347
Income before provision for taxes	4,003		5,869		5,767		5,630
Provision for taxes on income	1,108		1,696		1,670		1,623
Net income	$	2,895	$	4,173	$	4,097	$	4,007
Net income per common share
Basic	$	0.17	$	0.25	$	0.24	$	0.24
Diluted	$	0.17	$	0.25	$	0.24	$	0.24